Pharming Group Q2 Earnings Call: Revenue Falls, Outlook Cut Amid Market Shifts
Pharming Group (NASDAQ:PHAR) reported second-quarter revenue of $90.2 million in July 2026, a 3% decline year-over-year due to weaker sales of its hereditary angioedema therapy RUCONEST and ongoing market competition. The company cut its full-year revenue forecast by $30 million, now expecting between $375 million and $395 million for the year—flat to slightly up from 2025. Despite this, Joenja, a treatment for APDS, saw strong growth of 40% in Q2 to $17.9 million as international launches progressed. Pharming also reduced its operating expense forecast by $15 million and expects RUCONEST sales to stabilize and resume growth later in the year. Management cited improved patient retention metrics for RUCONEST, with 84 new patients enrolled during Q2 compared to about 50 in Q1. The company is advancing Phase II trials of leniolisib for broader immune-deficiency conditions like CVID, which could significantly expand its market potential. Cash and marketable securities dropped to $159.5 million at the end of Q2 as Pharming continues investing in growth initiatives.
Tickers: $PHAR
Topics: drug_sales financial_forecast pharma