Key Points – Pharming cut its 2026 outlook, forecasting revenue of $375 million to $395 million after second-quarter revenue fell 3% to $90.2 million.
The company also lowered its operating-expense forecast by $15 million, while expecting RUCONEST sales to stabilize and resume growth in the second half of 2026. – Joenja remained the growth driver, with second-quarter revenue up 40% to $17.9 million
Pharming is advancing launches in Germany and Japan, pursuing additional pediatric doses in the U.S., and expects high-30% Joenja revenue growth in 2026. – Pharming expects fourth-quarter Phase II results for leniolisib in broader primary immunodeficiency conditions, including CVID, which management estimates could represent an addressable population up to 40 times larger than APDS. Despite positive operating profit, cash and marketable securities declined to $159.5 million at quarter-end. Pharming Group (NASDAQ:PHAR) reported second-quarter revenue of $90.2 million, down 3% from a year earlier, as growth from its Joenja treatment partly offset lower sales of hereditary angioedema therapy RUCONEST.
The company reduced its full-year revenue outlook by $30 million but said it expects RUCONEST sales to stabilize and return to growth during the second half of 2026. The company now expects 2026 revenue of $375 million to $395 million, representing approximately flat to 5% growth versus 2025. It also lowered its operating-expense forecast by $15 million to a range of $315 million to $320 million.