The financial services watchdog AFM has launched a probe into possible insider trading at biotech firm Pharming, the Financieele Dagblad reported on Friday.

The paper said the investigation had been triggered by unusual price movements in early Thursday trading.
Pharming fell sharply at the opening with very high volumes of shares changing hands. Trading was then haltered. Later Pharming announced it had still not received approval to bring out its Rhucin medicine in Europe. Pharming ended down nearly 25% at 88 cents.