Pharming limiting its cash burn

23 February 2001

The Dutch biopharmaceuticals firm Pharming NV reports a 48% rise to 18.5million euros ($17.1 million) in its revenues for 2000 and says that operating expenses increased 32% to 35.1 million euros, resulting in an increased loss of 18% to 16.6 million euros. However, at the same time Pharming notes that its cash burn has been limited to 7.8 million euros for the year, compared with 18.6 million euros in 1999. At the end of 2000, the company had cash available of 44.9 million euros.

Pharming's president and chief executive, George Hersbach, has said that he is positive about 2001, noting that "our strong focus on clinical development and manufacturing of our biopharmaceutical products will allow us to take major steps toward regulatory market authorization of our first products."

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