Pharming Group Updates Its FY23 Guidance, Expects Revenue To Increase By 19% YoY To Around $245M, With RUCONEST Revenues +10%, And Joenja Revenues Of ~$18M

Author: Benzinga Newsdesk | January 08, 2024 02:51am

• Preliminary, unaudited cash and cash equivalents, together with restricted cash and marketable securities, are expected to total US$215.0 million at the end of 2023, compared to US$199.2 million a

  Sijmen de Vries, Chief Executive Officer, commented:

  "We are pleased to have concluded an excellent year in which we transformed Pharming into a multi-product, commercial rare disease biopharmaceutical company. We expect 10% growth in RUCONEST® revenues, significantly exceeding our previous guidance for low single digit annual revenue growth. We launched Joenja® (leniolisib) for APDS in the U.S. in April, shortly after FDA approval, and saw fast uptake from patients for the first and only FDA approved treatment for APDS. These results reflect the dedication of Pharming employees to develop and deliver therapies to otherwise unserved rare disease patients. Looking towards 2024, we remain focused on our goals to obtain regulatory approvals and commercialize leniolisib for APDS in additional global markets, and to further develop our rare disease pipeline and footprint. We seek to significantly expand the leniolisib market opportunity by pursuing development of leniolisib for additional primary immunodeficiencies (PIDs) beyond APDS, including a Phase 2 proof of concept clinical trial protocol in PIDs with immune dysregulation linked to PI3Kẟ signaling planned to start in 2Q 2024."

  t the end of the third quarter 2023 and US$208.7 million at the end of 2022.

Posted In: PHAR