Pharming Group N.V. GAAP EPS of $0.03, revenue of $96.8M misses by $2.43M

Aug. 04, 2022 7:56 AM ETPharming Group N.V. (PHGUF)By: Dania Nadeem, SA News Editor
  • Pharming Group N.V. press release (OTCPK:PHGUF): 1H GAAP EPS of $0.03.
  • Revenue of $96.8M (+3.9% Y/Y) misses by $2.43M.
  • For the remainder of 2022, we expect:
  • Single digit growth in Group revenues from RUCONEST® sales, driven by the US and expanded EU markets, are subject to potential business restrictions related to the COVID-19 pandemic. Quarterly fluctuations are expected.
  • The submission of leniolisib’s regulatory filings to EMA and UK MHRA are expected in the second half of 2022.
  • Subject to positive outcomes of the FDA review and granting of a Priority Review for leniolisib, we anticipate commercial approval from the FDA in the first quarter of 2023, with an anticipated launch and commercialization soon after.
  • Pharming will continue to allocate resources towards the anticipated launch and commercialization of leniolisib with the view of accelerating future growth. Investments in launch preparations and focused clinical development for leniolisib will continue to impact profit for 2022. With continued cash flow from RUCONEST® funding these investments, no additional financing to support the current business is expected.
  • Investment and continued focused on the potential acquisitions and in-licensing of new, latestage development opportunities and assets in rare diseases. Financing, if required, would come via a combination of our strong balance sheet and access to capital markets.

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