Biomarin Pharmaceutical Inc. · NASDAQ:BMRN
Biomarin Pharmaceutical — Q3 2025 Earnings Presentation
26 slides from Biomarin Pharmaceutical's earnings presentation, Oct 27, 2025
Slide 1: Third Quarter 2025 Earnings
Third Quarter 2025 Earnings October 27, 2025
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation and the associated conference call and webcast contain forward-looking statements about the business prospects of BioMarin Pharmaceutical Inc. (BioMarin), including, without limitation, statements about: future financial performance, including the expecta
Slide 3: Q3'25 Earnings Agenda
Q3’25 Earnings Agenda: 1 Key Business Updates 2 Financial Results 3 Commercial Update 4 Research & Development Update 5 Q&A Alexander Hardy Brian Mueller Cristin Hubbard Greg Friberg President and CEO Chief Financial Officer Chief Commercial Officer Chief R&D Officer 3
Slide 4: Q3'25 Key Business Updates
Q3'25 Key Business Updates Alexander Hardy President and Chief Executive Officer 4
Slide 5: Building on Our Strong Foundation to Drive Growth in 2025 and Beyond
Building on Our Strong Foundation to Drive Growth in 2025 and Beyond Year-to-date 2025 Total Revenues Executing on Focused Strategy 11% Y/Y Led by more than 20% Y/Y revenue ✓Raising Full-year 2025 Total Revenues growth for PALYNZIQ and VOXZOGO guidance to between $3,150M and $3,200M2; 11% FY'25 grow
Slide 6: Q3'25 Financial Results
Q3’25 Financial Results Brian Mueller Executive Vice President, Chief Financial Officer 6
Slide 7: VOXZOGO & PALYNZIQ Strength Drive Increased FY'25 Guidance
VOXZOGO & PALYNZIQ Strength Drive Increased FY’25 Guidance Total Revenues ($M) FY’25 Total Revenues guidance increased to $3,150M – $3,200M Y/Y Change Q3 YTD VOXZOGO $776 +4% +11% • Strong global demand and new patient increases Q/Q $746 • Q3 year-to-date revenue increased 24%, Y/Y 190 218 +15% +24%
Slide 8: Q3'25 Reflects Acquired IPR&D Impact; Strong Underlying Execution
Q3’25 Reflects Acquired IPR&D Impact; Strong Underlying Execution Q3 Results Include Impact of $221M Acquired Q3 2025 and YTD Results IPR&D Charges on a Pre-Tax Basis Non-GAAP Operating Margin and Q3’25 Q3 Y/Y YTD Y/Y In millions, except percentages Non-GAAP Diluted EPS • Q3 acquired IPR&D reduced N
Slide 9: Updated Full-year 2025 Guidance
Updated Full-year 2025 Guidance Prior Guidance Updated Guidance As of August 4, 2025 As of October 27, 2025 (In millions, except per share and % data) Total Revenues1 $3,125 to $3,200 $3,150 to $3,200 Non-GAAP Operating Margin %2 33% to 34% 26% to 27% Non-GAAP Diluted EPS2,3 $4.40 to $4.55 $3.50 to
Slide 10: Q3'25 Commercial Update
Q3’25 Commercial Update Cristin Hubbard Executive Vice President, Chief Commercial Officer 10
Slide 11: Enzyme Therapies Growth Reflects Broad Uptake Across Portfolio
Enzyme Therapies Enzyme Therapies Growth Reflects Broad Uptake Across Portfolio Enzyme Therapies Q3 YTD Revenue ($M) Year-to-date high-single-digit growth +8% Y/Y aligned with long-term outlook • Sustained PALYNZIQ growth driven by greater +7% numbers of patients titrating to daily maintenance dose
Slide 12: VOXZOGO: Q3 YTD 24% Y/Y; 2025 Outlook Reaffirmed
Skeletal Conditions VOXZOGO: Q3 YTD 24% Y/Y; 2025 Outlook Reaffirmed Revenue ($M) Q/Q new patient adds across all regions; Q4’25 VOXZOGO revenue expected to be +24% highest of the year • VOXZOGO available in 55 countries at end of Q3’25 • Continued new patient increases globally Q/Q • ~75% year-to-
Slide 13: Building on our Leadership in Skeletal Conditions
Skeletal Conditions Building on our Leadership in Skeletal Conditions Total Addressable Patient Population Expansion Across Multiple New Indications (TAPP): ~420,000 Focused on most severely impacted subset of • Achondroplasia (ACH): first of six indications for children, representing modest proport
Slide 14: VOXZOGO for HCH: Significant Breakthrough for Patients
Skeletal Conditions VOXZOGO for HCH: Significant Breakthrough for Patients Key Challenges to HCH Diagnosis Potential to Improve HCH Diagnosis • VOXZOGO in ACH launch experience and Heterogenous commercial leadership has laid the foundation to presentation scale and execute effectively in future indi
Slide 15: Q3'25 R&D Update
Q3’25 R&D Update Greg Friberg Executive Vice President, Chief R&D Officer 15
Slide 16: Potential to Address Significant Unmet Need in Hypochondroplasia
Skeletal Conditions Potential to Address Significant Unmet Need in Hypochondroplasia Hypochondroplasia Unmet Needs Comorbidity Event Rates in HCH • A retrospective study of children and adults with HCH showed higher co-morbidities, procedures, and health care resource utilization as compared to the
Slide 17: VOXZOGO Improves Spinal Morphology in Young Children with ACH, as Compared to Placebo Control
Skeletal Conditions VOXZOGO Improves Spinal Morphology in Young Children with ACH, as Compared to Placebo Control Positive effect of VOXZOGO on spinal measurements at Positive effect of VOXZOGO on curvature week 52 compared with placebo of spine at week 52 compared with placebo (mm) (mm) (degrees) •
Slide 18: BMN 333: Phase 2/3 Designed to Target Superior Profile
Skeletal Conditions BMN 333: Phase 2/3 Designed to Target Superior Profile BMN 333 for achondroplasia: Targeting initiation of registration-enabling Ph 2/3 study, expected to begin 1H’26 Biological Rationale for Phase 2/3 Registration- BMN 333 Designed for Potential Clinical Benefit enabling Study S
Slide 19: Anticipated Key Pipeline Highlights over Coming Quarters
Anticipated Key Pipeline Highlights over Coming Quarters 2H 2025 1H 2026 2H 2026 BMN 333 Ph1 PK presentation BMN 333 Ph1 PK data Skeletal BMN 333 Ph2/3 Conditions registration-enabling study initiation VOXZOGO for HCH Ph3 data VOXZOGO for HCH health authority readout submissions for approval PALYNZI
Slide 20: BioMarin
IOMARIN B
Slide 21: Appendix
Appendix Reconciliation of GAAP Reported to Selected Non-GAAP Adjusted Information
Slide 22: Reconciliation of GAAP Reported Net Income to Non-GAAP Income
Reconciliation of GAAP Reported Net Income to Non-GAAP Income(1) (1) Certain amounts may not sum or recalculate due to rounding. (2) These amounts were included in SG&A and represent severance costs incurred in the acquisition of Inozyme in July 2025. (3) Represents a payment triggered by a third pa
Slide 23: Reconciliation of GAAP and Non-GAAP R&D and SG&A Expenses
Reconciliation of GAAP and Non-GAAP R&D and SG&A Expenses(1) (1) Certain amounts may not sum or recalculate due to rounding. (2) These amounts were included in SG&A and represent severance costs incurred in the acquisition of Inozyme in July 2025. (4) These amounts were included in SG&A and represen
Slide 24: Reconciliation of GAAP Income from Operations to Non-GAAP Income from Operations
Reconciliation of GAAP Income from Operations to Non-GAAP Income from Operations(1) (1) Certain amounts may not sum or recalculate due to rounding. (2) These amounts were included in SG&A and represent severance costs incurred in the acquisition of Inozyme in July 2025. (3) Represents a payment trig
Slide 25: Reconciliation of GAAP Diluted EPS to Non-GAAP Diluted EPS
Reconciliation of GAAP Diluted EPS to Non-GAAP Diluted EPS(1) (1) Certain amounts may not sum or recalculate due to rounding. (2) These amounts were included in SG&A and represent severance costs incurred in the acquisition of Inozyme in July 2025. (3) Represents a payment triggered by a third party
Slide 26: Reconciliation of GAAP Weighted Average Diluted Shares Outstanding to Non-GAAP
Reconciliation of GAAP Weighted Average Diluted Shares Outstanding to Non-GAAP Weighted Average Diluted Shares Outstanding(1) 26 (1) Certain amounts may not sum or recalculate due to rounding.
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