Pharming Group N.V. (PHGUF)

[xr_biotech_consult]

PHGUF: BLA Filed For Ruconest, As Anticipated; Reiterate Buy

April 18, 2013
Biotech company Pharming Group NV announces the analyst report completed by Joseph Pantginis, Ph.D. and Raluca Pancrotov, Ph.D. from Roth Capital Partners is published today.

Pharming and Santarus (SNTS - Buy) announced the filing of a BLA with the FDA for Ruconest as treatment for acute hereditary angioedema (HAE), as anticipated. We view this announcement as positive for Pharming; upon the FDA accepting the BLA filing, the company is eligible for a $5 million milestone payment from SNTS. A $20 million milestone payment is also expected upon first commercial U.S. sale. We reiterate our Buy rating.