Pharming Group N.V. (PHAR) Q2 2026 Earnings Call

Investor webinar replay

Replay transcript excerpt

Thank you, operator. Good morning and good afternoon, everyone, and welcome to our Q2 2026 earning calls. I'll be joined on this call today by Leverne Marsh, our chief commercial officer, Anurag Relan, our chief medical officer, and Kenneth Lynard, our chief financial officer. 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. As you saw in today's press release, while we lowered our full-year revenue guidance, we are encouraged by the resilience of Reconest with robust underlying demand indicators. Joe and Jack continue to deliver strong growth, and we are approaching a number of significant near-term catalysts. Before I go into more detail on the quarter, Let me take a step back and put these developments into the context of the ongoing transformation of farming. We are evolving farming into a more diversified rare disease company with an increasingly attractive long-term growth profile. This is supported by three key pillars. Ruconest, which provides a durable source of cash flow. Johanja, a high growth asset still early in the cycle with significant commercial opportunities ahead, and a high-value pipeline with two potential billion-dollar opportunities. Each of these pipeline programs has the potential to naturally increase our scale and are important steps forward in our ambition to making farming a leading global rare disease company. We've made important progress across the business during the second quarter, despite a 3% year-over-year decline in total revenue. Reconest revenue declined to $72.3 million compared with $80.4 million in the second quarter of last year. However, we are encouraged by the underlying performance indicators, which demonstrat...