Slide 1: Pharming Group N.V. Q1 Results 2021
Pharming Group N.V. Q1 Results 2021 Sijmen de Vries, CEO Jeroen Wakkerman, CFO 13 May 2021
Slide 2: Forward looking statement
Forward looking statement The information contained in this document and communicated verbally to you (together the "Presentation") is being supplied to you solely for your information and may not be copied, reproduced or further distributed to any person or published, in whole or in part, for any p
Slide 3: Recovery towards end of Q1 2021 following impact of COVID-19
Recovery towards end of Q1 2021 following impact of COVID-19 • Revenue for Q1 2021 decreased 20% to $43.6 million (Q1 2020: $54.5 million) • Similar to Q2 2020, this quarter results were impacted by effects of another COVID-19 surge during November, December and into 2021 • Patients stocking RUCONES
Slide 4: Expected return to growth in Q2 2021
Expected return to growth in Q2 2021 • Revenue in US decreased due to COVID-19 surge • Total value of HAE market is increasing again (2020) driven by increasing use of prophylaxis • No major shifts in volume and market shares observed between RUCONEST® and competitors • Return to growth in Q2 2021 a
Slide 5: RUCONEST® in a changing HAE landscape
RUCONEST® in a changing HAE landscape • RUCONEST® approved for the treatment of acute HAE attacks in adults and children • Patients’ treatment plans (if on prophylaxis) include break-through medication • New prophylactic treatments offer better attack reduction rates than previous IV plasma-derived
Slide 6: Investing for long-term sustainable revenue growth
Investing for long-term sustainable revenue growth
Slide 7: Three-pillar strategy for growth
Three-pillar strategy for growth Continuing to grow RUCONEST® sales Expanding indications In-licensing or through further country for rhC1INH & developing acquiring late-stage launches & increasing new recombinant proteins clinical development HAE market share using our platform candidates technolog
Slide 8: Progress towards an anticipated launch of leniolisib for APDS in Q4 2022
Progress towards an anticipated launch of leniolisib for APDS in Q4 2022 8
Slide 9: APDS is a primary immunodeficiency (PID)
APDS is a primary immunodeficiency (PID) Primary immunodeficiencies: The number of identified PID’s is • Prevalence: ~1 in 1200 growing steadily1 • Gene mutations: >400 • Clinical presentation: Highly variable • There is a growing understanding that PID patients are not just about infections – they
Slide 10: Significant market opportunity
Significant market opportunity APDS was fully characterized in 20131-4 IgG subclass ALPS XLA 2,6% 2,6% deficiency • Caused by autosomal dominant variations in one of two 5,1% genes, leading to APDS1 or APDS2 • Results in hyperactivation of phosphoinositide-3-kinase δ Recurrent (PI3Kδ) which suppress
Slide 11: Leniolisib: potential to address unmet needs in APDS
Leniolisib: potential to address unmet needs in APDS Burden of APDS1-4 Current treatment options for APDS5 • Estimated > 1,350 patients (500 US, 675 EU, 190 Japan) • Symptomatic therapies (e.g., antibiotics, Often used together live with APDS (based on prevalence) steroids) • APDS patients are chara
Slide 12: Investigational, first-in-class for APDS, oral, selective, PI3K delta inhibitor
Investigational, first-in-class for APDS, oral, selective, PI3K delta inhibitor Therapeutic Area US Regulatory Target Year End APDS : Activated PI3K Delta Syndrome Q4/2022 Topline Data Target Q4/2021 Leniolisib2,3 Effective oral selective PI3Kδ inhibitor Potential Broad Impact on Lymphocytes Precisi
Slide 13: Patient identification process
Patient identification process Access to leading global physicians with Sponsored genetic testing an integrated clinical network with access to the growing A.I algorithm to identify patients database of patients with within hospitals, in partnership with Cross-therapeutic Steering Committee APDS KOL
Slide 14: Leniolisib value proposition in APDS
Leniolisib value proposition in APDS Significant PI3Kδ inhibition with well-tolerated safety profile in phase 2 study Oral formulation for ease of use Normalization of biomarkers illustrating clinical effectiveness Targets the root cause of a complex disease with an array of symptoms Commercially av
Slide 15: Expansion of rhC1INH franchise for larger indications
Expansion of rhC1INH franchise for larger indications 15
Slide 16: Clinical development for rhC1INH
Clinical development for rhC1INH • Enrolment has begun for Phase IIb clinical trial for rhC1INH in acute kidney injury after myocardial infarction • Acute kidney injury (AKI) defined by rapid onset of renal damage and disfunction • University Hospital of Basel, Basel, Switzerland • Double-blind, ran
Slide 17: Financial Review
% Pharming Financial Review 17
Slide 18: Financial Summary
Financial Summary Amounts in US $m except per share data Q1 2021 Q1 2020 % Change Consolidated Income Statement Revenues 43.6 54.5 -20% Gross profit 38.7 48.5 -20% Operating result 6.3 21.5 -71% Finance cost, net 6.6 -7.8 -184% Income tax expense -4.3 -4.4 -3% Net result 8.5 9.3 -9% Consolidated Bal
Slide 19: Income statement
Income statement Amounts in $ ‘000 YTD 2021 YTD 2020 Revenues 43.564 54.469 Costs of sales (4.843) (5.955) Gross profit 38.721 48.514 Other income 259 267 Other Operating Costs (32.697) (27.293) Operating profit 6.283 21.488 Fair value loss on revaluation derivatives 30 134 Other finance income 8.15
Slide 20: Balance sheet – assets
Balance sheet – assets Amounts in $ ‘000 March 31, 2021 December 31, 2020 Non-current assets Intangible assets 89.943 94.083 Property, plant and equipment 13.093 12.226 Right-of-use assets 8.828 9.427 Deferred tax assets 27.559 31.877 Investment accounted for using the equity method 6.720 7.118 Rest
Slide 21: Balance sheet – liabilities
Balance sheet – liabilities Amounts in $ ‘000 March 31, 2021 December 31, 2020 Equity Share capital 7.195 7.163 Share premium 449.135 444.940 Legal reserves 11.358 19.859 Accumulated deficit (281.328) (288.527) Shareholders’ equity 186.360 183.435 Non-current liabilities Convertible bonds 141.169 14
Slide 22: Cash flow
Cash flow Amounts in $’000 YTD 2021 YTD 2020 Profit before tax 12.792 13.668 Net cash flows generated from (used in) operating activities 7.061 21.832 Capital expenditure for property, plant and equipment (1.956) (660) Investment intangible assets (460) (210) Investment associate 398 8 Acquisition o
Slide 23: Outlook for full year 2021
% Pharming Outlook for full year 2021 23
Slide 24: Outlook for 2021
Outlook for 2021 For the remainder of 2021, the Company expects: • Returning to growth of revenues from sales of RUCONEST®, mainly driven by the US and expanded EU operations, subject to the progression of the COVID-19 pandemic and quarterly fluctuations in revenues as a result of the ongoing effect
Slide 25: Tickers and investor contact
Tickers: • Euronext Amsterdam: PHARM • Nasdaq: PHAR investor@pharming.com 25