Pharming books €6m loss in first quarter

Biotechnology company Pharming said on Friday it had booked a loss of €6.2m in the first three months of 2009, compared with €2.9m in the same period in 2008.

Turnover reached €100,000, unchanged from the 2008 first quarter, the Leiden-based company said in a statement
Commenting on the figures, CEO Sijmen de Vries said Pharming anticipates receiving ‘milestone payments from our partnering agreements in the course of this year, which should keep the company securely financed into 2010.’
Pharming has two products in late stage development – Rhucin for hereditary angioedema (a blood protein deficiency which leads to swelling) and human lactoferrin, a protein, for use in food products.

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