Q2 2024 Pharming Group NV Earnings Call Transcript
Key Points
- RUCONEST sales grew by 23% in Q2 2024 compared to the previous year, and by 16% in the first half of 2024.
- Joenja sales increased by 16% in Q2 2024 compared to Q1 2024, and by 44% in the first half of 2024 compared to the last half of 2023.
- Pharming Group (PHGUF) is embarking on a Phase 2 study for a new indication for leniolisib and exploring a third indication.
- The company has identified significant commercial potential for Joenja in both APDS and subsequent indications.
- Pharming Group (PHGUF) is focusing on in-licensing or acquiring clinical stage opportunities in rare diseases to broaden its portfolio.
- Operating expenses increased from $65.8 million to $70.1 million, reflecting continued investment in Joenja and other areas.
- Net profit turned into a loss of $1.2 million in Q2 2024 compared to a profit of $1.3 million in Q2 2023.
- Cash and marketable securities decreased by almost $42 million, primarily due to bond repurchases.
- The CHMP review for leniolisib has been extended to January 2026, delaying potential European market entry.
- There is significant competition in the hereditary angioedema market, which could impact RUCONEST sales despite its unique position.
Good morning or good afternoon, ladies and gentlemen; I'm here. Next slide, please. Welcome to our results conference for the first half and second quarter of this year. And I'm here with my colleagues, Stephen Toor, our Chief Commercial Officer; Anurag Relan, our Chief Medical Officer; and Jeroen Wakkerman, our Chief Financial Officer who will -- we will collectively guide you through the story.
But before I do that, I would like to have this next slide and point you to these forward-looking statement slide. So we will be making forward-looking statements in this presentation. And as you well know, these are based upon our -- upon future expectations that are based on our current expectations and assumptions, and may involve known and unknown risks and uncertainties. As you well know, the results eventually could differ materially from what we have expressed or implied in our statements. Next slide, please.
And then, you can immediately move on to slide number 5, please. So what we're doing is -- this is
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
