Pharming Group N.V. (PHAR) Q1 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good day and thank you for standing by. Welcome to the Farming Group NV first quarter 2026 results webcast and conference call. At this time, all participants are in a listen only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Fabrice Chiraki, CEO. Please go ahead. Thank you, operator, and good morning and good afternoon, everyone, and welcome to our Q1 2026 earning call. I'll be joined on this call today by Libran March, our Chief Commercial Officer, Anurag Relan, our Chief Medical Officer, and Kenneth Linus, our Chief Financial Officer. Next slide. In this call, we will be making forward-looking statements that are based upon our current insights and plans. As you know, this may differ from future results. Next slide. As you saw in our press release, we made important progress across the business in this first quarter, despite the drop in quarterly revenue driven by WKNF. The reconnaissance revenue decline was largely expected due to inventory drawdown at specialty pharmacies, which we discussed on our Q4 2025 call in March. The commercial exit from non-US markets also contributed to the year-on-year decline. We announced that decision last year as part of our renewed financial discipline, since the commercialization of reconnaissance in these markets was not financially sustainable. Now, if we look at the underlying fundamentals, we see limited interest from patients on RECON...