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Aandeel Pharming Group AEX:PHARM.NL, NL0010391025

  • 0,880 19 apr 2024 16:41
  • +0,012 (+1,38%) Dagrange 0,869 - 0,889
  • 6.835.150 Gem. (3M) 6,9M

FB Bank 7.90

8 Posts
| Omlaag ↓
  1. [verwijderd] 19 augustus 2005 17:00
    Key Points
    Pharming published H1/05 results today. The company
    achieved almost unchanged sales of €0.34m (H1/04: €0.34m)
    mostly generated from the Esteve milestone payment.
    Operating costs and expenses increased by approximately
    42% to €9.70m (H1/04: €6.84m) triggered mainly by
    increasing R&D costs from the Phase III trials of rhC1INH.
    These figures include non-cash IFRS 2 share-based
    compensation costs of €1.37m (H1/04: €2.23m). As a result,
    net operating loss amounted to €9.36m (H1/04: €6.50m) and
    net loss to €9.08m (H1/04: €6.31m). The company maintains
    a comfortable cash position of €24.69m (end of 2004:
    €25.80m), supported by the exercise of warrants in H1/05,
    which generated €5.70m in cash.
    In addition, Pharming announced it has recruited 150 patients
    for the US and EU Phase III trials with the lead drug candidate
    rhC1INH on HAE. Furthermore, the company outlined its
    intention to submit treatment results to specific European
    countries to apply for “compassionate use” status. This will
    enable the company to generate initial sales, albeit small, as
    patients will have to pay for the treatments themselves until
    the product receives final market approval. However, most
    important to us, the company will be able to learn more about
    the patients behaviour and carry out pre-marketing activities.
    Recommendation
    H1/05 figures are in-line with our expectations. Additionally,
    we believe the patient recruitment process for the lead drug
    candidate rhC1INH on HAE is well on track and still forecast
    a filing in H2/05. This reinforces our expectation that the
    company will be the first on the market for this indication
    (ahead of Jerini and Dyax). Our investment story remains
    intact. We continue to see Pharming as a very attractive
    investment at current levels. We therefore reiterate our buy
    recommendation and our price target of €7.90.
    Risks
    The main risks to our price target include, but are not limited
    to: delays or problems with the clinical trials of rhC1INH,
    possible future competition, and unforeseeable costs of
    development.
  2. [verwijderd] 19 augustus 2005 17:15
    Furthermore, the company outlined its
    intention to submit treatment results to specific European
    countries to apply for “compassionate use” status. This will
    enable the company to generate initial sales, albeit small, as
    patients will have to pay for the treatments themselves until
    the product receives final market approval.

    dus toch extra inkomsten in H2 met of zonder goedkeuring :))
  3. diederique 19 augustus 2005 18:59
    Op 4 mei jl. heeft First Berlin het 12 maands koersdoel van 7,90 afgegeven. Derhalve is volgens deze analist met een investering in Pharming -binnen een tijdsbestek van 8 1/2 maand- een rentabiliteit te behalen van meer dan 120%.
    Daarenboven moet volgens de Rabo al binnen de 5 1/2 maand de 7 zijn aangetikt.

    Bijna niet voorstelbaar, maar voorlopig the benefit of the doubt geven en maar hopen dat ze hierin gelijk krijgen. Nu de markt nog.
8 Posts
|Omhoog ↑

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