Pharming Q2 Preview: Can Joenja Help Swing Back To Profit, Offsetting Ruconest Weakness?
(RTTNews) - Pharming Group N.V. (PHAR) announced that it will release preliminary results for the second quarter of fiscal 2026 along with business update on July 30, 2026. The company's management will host a conference call at 13:30 CEST/ 07:30 am EDT to discuss the results.
As Pharming prepares to report second-quarter results, here's a brief review of its financial performance in the most recent quarter and the corresponding period last year.
Company Profile
Pharming Group N.V. is a commercial-stage biopharmaceutical company focused on developing and commercialising treatments for rare diseases.
Its marketed products include Joenja for activated PI3K delta syndrome (APDS) and Ruconest for the treatment of acute hereditary angioedema (HAE), while advancing a pipeline of therapies for immune-mediated and genetic disorders.
First Quarter FY26 Highlights
For the first quarter ended March 31, 2026, the company's net loss narrowed to $5.21 million, or $0.007 per share from $14.89 million, or $0.022 per share in the prior year.
Net revenue decreased by $6.65 million, or 8.4% to $72.45 million from $79.10 million in the same quarter last year.
Ruconest sales revenue for the quarter was $58.4 million, compared with $68.6 million for the same quarter of the last year. The company attributed the decline to volume decrease in the U.S and international markets, following the withdrawal from all non-U.S. markets.
In the first quarter 2026 Joenja revenue amounted to a 34% increase to $14.1 million, compared with $10.5 million for the same quarter in 2025.
The growth is driven by higher U.S. and U.K. patient uptake and expansion of government-supported access programs internationally.
Cash and cash equivalents, including restricted cash and marketable securities amounted to $171.8 million at the end of March 31, 2026.
Notable Q2 Catalysts
Joenja received marketing authorization from the European Commission in May 2026 for the treatment of activated PI3K delta syndrome in the European Union. The European launch is expected in Germany in the third quarter of 2026.
2026 Outlook
Pharming reaffirmed its full-year 2026 guidance at the end of the first quarter:
• Total revenues between $405 million and $425 million (8% to 13% growth), with quarterly fluctuations expected.
• Continued RUCONEST and Joenja growth in the U.S. and internationally.
Second Quarter FY25 Highlights
Going back to the second quarter of 2025, total net revenues were up 26% at $93.2 million. In the prior year of 2024, the company had reported $74.1 million.
Ruconest revenue amounted to $80.4 million, a 28% increase compared to the second quarter of 2024.
Joenja revenue increased 15.3% to $12.8 million from $11.1 million in the prior year.
For the second quarter 2025, Pharming earned a profit of $4.6 million, or $0.007 per diluted share, compared to loss of $1.2 million, or $0.002 per diluted share, in the second quarter of 2024.
PHAR closed Tuesday at $12.86, down 1.18%.
Pharming shares are trading up 2.93% at $12.76.
