Pharming Group Expects 2024 Total Revenue Of $280M-$295M

Author: Benzinga Newsdesk | March 14, 2024 02:10am

Outlook/Summary

For 2024, the Company anticipates:

• Total revenues between US$280 million and US$295 million (14% to 20% growth), with quarterly fluctuations expected.
• Continued progress finding additional APDS patients in the U.S., supported by family testing and VUS validation efforts, and subsequently converting patients to paid Joenja® (leniolisib) therapy.
• Increasing ex-U.S. revenues leniolisib - from commercial availability or through our Named Patient Program and other funded early access programs in key global markets.
• Completion of leniolisib clinical trials to support regulatory filings for approval in Japan and pediatric label expansion in key global markets.
• Progress towards regulatory approvals for leniolisib in the EEA, the U.K., Canada, Australia, and Israel.
• Initiate and advance a Phase 2 clinical trial for leniolisib in PIDs with immune dysregulation linked to PI3Kδ signaling to significantly expand the long-term commercial potential of leniolisib.
• Continued operating cost investments to accelerate future revenue growth. Our current cash on hand and the continued cash flow from product revenues are expected to be sufficient to fund these investments. No material cash burn is expected prior to the impact of potential acquisition or in-licensing transactions.
• Continued focus on potential acquisitions and in-licensing of clinical stage opportunities in rare diseases. Financing, if required, would come via a combination of our strong balance sheet and access to capital markets.

Posted In: PHAR