Pharming Group Nv · EURONEXT:PHARM
Pharming Group Nv — Q2 2025 Earnings Presentation
30 slides from Pharming Group Nv's earnings presentation, Jul 31, 2025
Slide 1: Second quarter and first half 2025 financial results and business update
Pharming Group N.V. Second quarter and first half 2025 financial results and business update July 31, 2025 NASDAQ: PHAR | EURONEXT Amsterdam: PHARM
Slide 2: Speakers
SPEAKERS Fabrice Chouraqui Stephen Toor Anurag Relan, MD Chief Executive Officer Chief Commercial Officer Chief Medical Officer
Slide 3: Forward-looking statements
Forward-looking statements This presentation may contain forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual resu
Slide 4: Introduction
CEO Fabrice Chouraqui Chief Executive Officer Introduction
Slide 5: Strong second quarter 2025 performance
Strong second quarter 2025 performance Revenues RUCONEST Joenja Amounts in US$ million 93.2 12.8 74.1 • Total revenues up 26% 11.1 63.0 80.4 • Meaningful operating profit and cash generated from operations 2Q 2024 2Q 2025 • Continued double-digit RUCONEST® revenue growth Adjusted (Non-GAAP) Operatin
Slide 6: Unique combination of commercial and pipeline assets poised to deliver strong value creation
Unique combination of commercial and pipeline assets poised to deliver strong value creation Commercial Pipeline HAE RUCONEST® > $290 million TTM revenue PIDs Joenja® for APDS PID / CVID > $1B with immune Significant near-term catalysts revenue dysregulation Up to 100x current prevalence Phase II tr
Slide 7: Vision for the future
Vision for the future Develop a leading global rare disease company with a diverse portfolio and presence in large markets, leveraging proven and efficient clinical development, supply chain, and commercial infrastructure 7
Slide 8: Commercial update
CCO Stephen Toor Chief Commercial Officer Commercial update
Slide 9: RUCONEST strong growth continues in acute HAE market
RUCONEST® strong growth continues in acute HAE market RUCONEST® revenues RUCONEST® U.S. new prescribers • Strong U.S. in-market demand in 2Q 2025 ₋ Continuing to add Amounts in US$ million prescribers and patients 80.4 26 22 24 ₋ New patient enrollments 63.0 20 20 remain high (~90) 15 • Continued ro
Slide 10: RUCONEST unique value proposition and positioning
RUCONEST® unique value proposition and positioning Type 1, Type 2, and Normal C1-INH HAE patients rely on RUCONEST 97% attacks treated with just 1 dose1 Time of taking 4 hours after 24 hours after RUCONEST 93% acute attacks stopped for at least 3 days2 RUCONEST® mostly used by patients experiencing
Slide 11: Joenja acceleration in patient growth in 12y+ APDS
Joenja® acceleration in patient growth in 12y+ APDS Joenja® revenues US patients on Joenja® 114 • Acceleration in APDS patients on therapy Amounts in US$ million 12.8 102 ₋ 114 U.S. patients 11.1 96 (+25% vs 2Q24) 93 91 ₋ 1H25 increase exceeded 83 total for 2024 81 • Launched in the U.K. in April •
Slide 12: Joenja near-term growth catalysts – APDS
Joenja® near-term growth catalysts – APDS Reclassification of Pediatric Geographic VUS* patients 2H25 label expansion 1H26 Expansion ongoing • >1400 patients in the US with • 4-11 years pediatric filing in • Launched and reimbursed in VUS results the US (3Q25) the UK • June 2025 publication in Cell
Slide 13: Joenja (leniolisib) lifecycle to realize $1Bn+ sales potential
Joenja® (leniolisib) lifecycle to realize $1Bn+ sales potential U.S. patient numbers used to illustrate estimated prevalence CVID with immune PIDs with immune dysregulation dysregulation linked APDS* to PI3Kδ signaling ~500 U.S. patient prevalence >2,500 U.S. patients >13,000 U.S. patients + (PID/CV
Slide 14: R&D update
CMO Anurag Relan, MD Chief Medical Officer R&D update
Slide 15: Newly published study expands characterization of APDS
Newly published study expands characterization of APDS Study uncovered >100 new variants leading to PI3Kδ hyperactivity (GOF variants) Leniolisib restored / improved PI3Kδ signaling defects and immune abnormalities caused by GOF variants Data suggests that VUS patients with these GOF Frequency of ne
Slide 16: Ongoing regulatory progress and pipeline execution
Ongoing regulatory progress and pipeline execution Japan NDA filed for adult and pediatric patients 4 years of age and older (June) APDS FDA filing for pediatric label expansion for children aged 4 to 11 years (3Q) PIDs with immune Genetic PID/CVID Phase II POC trials on track for 2026 read-outs dys
Slide 17: Diverse rare disease portfolio and pipeline
Diverse rare disease portfolio and pipeline 17
Slide 18: Financials and outlook
CEO Fabrice Chouraqui Chief Executive Officer Financials and outlook
Slide 19: Financial highlights: 2Q 2025 vs 2Q 2024
Financial highlights: 2Q 2025 vs 2Q 2024 Revenues Gross profit OpEx development* RUCONEST Joenja R&D G&A M&S Amounts in US$ million Amounts in US$ million Amounts in US$ million 93.2 12.8 84.2 74.1 70.1 75.2 11.1 66.1 31.0 32.9 80.4 20.5 63.0 15.6 21.6 23.7 2Q 2024 2Q 2025 2Q 2024 2Q 2025 2Q 2024 2Q
Slide 20: Financial highlights: 1H 2025 vs 1H 2024
Financial highlights: 1H 2025 vs 1H 2024 Revenues Gross profit OpEx development* RUCONEST Joenja R&D G&A M&S Amounts in US$ million Amounts in US$ million Amounts in US$ million 172.3 23.3 155.0 153.4 129.7 134.0 20.7 113.3 65.6 63.2 149.0 109.0 43.0 30.7 40.1 44.8 1H 2024 1H 2025 1H 2024 1H 2025 1
Slide 21: 2025 financial guidance and long-term capital outlook
2025 financial guidance and long-term capital outlook Revenue and operating expenses: FY 2025 Guidance Notes Total Revenues US$335 - 350 million 13 - 18% growth Assumes constant currency, Operating Expenses US$304 - 308 million Includes $10.2 million non-recurring Abliva- related transaction and int
Slide 22: Building a leading global rare disease biopharma company
Building a leading global rare disease biopharma company Strong start to Updated High value Significant 2025 2025 guidance pipeline catalysts Strong RUCONEST® Raising revenue Joenja® (leniolisib) for Joenja® for APDS: growth and acceleration guidance to PIDs/CVID with VUSs, pediatric label, of Joenj
Slide 23: Q&A
Q&A Fabrice Chouraqui Stephen Toor Anurag Relan, MD Chief Executive Officer Chief Commercial Officer Chief Medical Officer
Slide 24: www.pharming.com
www.pharming.com NASDAQ: PHAR | EURONEXT Amsterdam: PHARM
Slide 25: Appendix
Pharming Group N.V. Appendix
Slide 26: Statement of profit and loss
Statement of profit and loss 26
Slide 27: Balance sheet – assets
Balance sheet — assets Pharming’ June 30,2025 December 31, 202 Non-current assets Intangible assets 7 135,901 61,039 Property, plant and equipment 7,965 7,752 Right-of-use assets 16,601 16,382 Long-term prepayments 95 90 Deferred tax assets 14 31,200 30,544 Investment accounted for using the equity
Slide 28: Balance sheet – liabilities
Balance sheet – liabilities 28
Slide 29: Cash flow (1/2)
Cash flow (1/2) Pharming’ 1H 2025 1H 2024 Profit (loss) before tax (4,709) (16,684)) Adjustments to reconcile net profit (loss) to net cash used in operating activities: Depreciation, amortization, impairment of non-current assets 5,284 5,628 Equity settled share based payments 6,052 5,687 Fair valu
Slide 30: Cash flow (2/2)
Cash flow (2/2) Pharming’ Capital expenditure for property, plant and equipment (410) (294) Investment intangible assets (a) = Disposal of investment designated as at FVOCI = 1,964 Investment in associates using the equity method (429) = Purchases of marketable securities =| (212,453) Proceeds from