Pharming Group reports preliminary 2025 revenues and announces Investor Day

Rhea-AI Summary

Pharming (PHARM) reported preliminary, unaudited 2025 revenues of approximately US$376 million, above its upwardly revised guidance of US$365–375 million and representing about 27% growth vs 2024. Full‑year 2025 operating expenses are expected to be within the previously communicated US$304–308 million range. The company will host a virtual Investor Day on February 3, 2026 at 10:00 am EST to present 2026 financial guidance and pipeline updates, including leniolisib (Phase II) for PIDs with immune dysregulation and KL1333 in the pivotal FALCON study for mtDNA-driven mitochondrial disease. Pharming plans to release audited Q4 and full‑year 2025 results on March 12, 2026. Preliminary figures may change on final reporting.

Positive

• Revenue ≈ US$376M for 2025, exceeding guidance
• 27% reported revenue growth versus 2024
• Operating expenses expected within prior range of US$304–308M
• Commercial momentum: growth in RUCONEST and accelerating Joenja uptake

Negative

• Preliminary, unaudited revenues may change when audited results are released
• Key clinical programs remain investigational (leniolisib in Phase II; KL1333 in pivotal study) with inherent clinical and regulatory risk

Key Figures

2025 revenue: US$376 million 2025 revenue guidance: US$365–US$375 million Revenue growth: 27% +3 more

6 metrics

2025 revenue US$376 million Preliminary, unaudited full-year 2025; above guidance range

2025 revenue guidance US$365–US$375 million Upwardly revised guidance issued November 2025

Revenue growth 27% 2025 revenue growth versus 2024

2025 operating expenses US$304–US$308 million Expected full-year 2025 operating expense range

Investor Day date February 3, 2026 Virtual Investor Day at 10:00 am EST (16:00 CET)

Results release date March 12, 2026 Planned Q4 and full-year 2025 financial results publication

Market Reality Check

normal vol

Market Pulse Summary

This announcement highlights preliminary 2025 revenues of US$376 million, above the prior US$365–US$...

Analysis

This announcement highlights preliminary 2025 revenues of US$376 million, above the prior US$365–US$375 million guidance range and representing 27% growth versus 2024, alongside expected 2025 operating expenses of US$304–US$308 million. It also flags an upcoming Investor Day on February 3, 2026 and a full results release on March 12, 2026. Investors may focus on detailed 2026 guidance, profitability trends, and progress in leniolisib and KL1333 programs as key next checkpoints.

Key Terms

primary immunodeficiencies, common variable immunodeficiency, mitochondrial dna, mitochondrial disease, +2 more

6 terms

primary immunodeficiencies medical

"leniolisib in Phase II proof of concept clinical trials for primary immunodeficiencies (PIDs)"

Primary immunodeficiencies are a group of usually inherited conditions in which parts of the body’s immune system are missing or do not work properly — think of the immune system as a home security system with broken sensors. They matter to investors because they define patient populations, drive demand for specialized therapies and diagnostics, influence clinical trial design and regulatory incentives, and can affect revenue potential and valuation for companies developing treatments.

common variable immunodeficiency medical

"including Common Variable Immunodeficiency (CVID) with immune dysregulation"

A disorder in which a person’s immune system makes too few infection‑fighting proteins (antibodies), causing frequent, sometimes serious infections and a lifelong need for medical monitoring or treatment; imagine a home security system that no longer raises the alarm. Investors track it because the condition defines patient populations, treatment demand, clinical trial needs, and regulatory considerations that affect the commercial and clinical value of therapies and diagnostics.

mitochondrial dna medical

"for mitochondrial DNA (mtDNA)-driven mitochondrial disease"

Mitochondrial DNA is a small, distinct set of genetic instructions found inside mitochondria, the cell’s energy-producing “batteries.” Unlike the main genome, it is inherited differently and governs key energy and metabolic functions. Investors care because changes or defects in this DNA can be the target or basis for diagnostic tests, therapies, and companion biomarkers; developments here can drive regulatory approvals, market opportunity, and risk for companies in diagnostics, gene therapy, and rare-disease treatments.

mitochondrial disease medical

"for mitochondrial DNA (mtDNA)-driven mitochondrial disease"

Mitochondrial disease is a group of inherited disorders where the cell’s “power plants” (mitochondria) cannot produce energy properly, causing fatigue and organ damage—often in muscles, the brain, eyes, and heart. Investors should care because these conditions create a clear need for new diagnostics and treatments, shaping clinical trial risk, potential market size, and long-term revenue opportunities for companies developing therapies or tests.

phase ii medical

"leniolisib in Phase II proof of concept clinical trials for primary immunodeficiencies"

Phase II is the mid-stage clinical trial where a potential drug or medical treatment is tested in a larger group of patients to see if it works and to help determine the best dose and common side effects. For investors, Phase II results matter because they give the first meaningful evidence about effectiveness and safety—like a road test that shows whether a product has real promise before a much bigger, costly final trial and potential regulatory approval.

pivotal clinical study medical

"KL1333 in a pivotal clinical study (FALCON) for mitochondrial DNA (mtDNA)-driven"

A pivotal clinical study is the key, late-stage medical trial designed to show whether a drug or medical device works and is safe enough for regulators to approve it. Think of it as the final exam for a treatment: a strong pass typically clears the path to market access, while a failure can stop approval and materially affect expected sales, company value, and investor returns.

AI-generated analysis. Not financial advice.

Leiden, The Netherlands, January 8, 2026: Pharming Group N.V. (“Pharming” or “the Company”) (EURONEXT Amsterdam: PHARM/Nasdaq: PHAR) today announced its preliminary, unaudited revenues for the full year 2025 and plans to host a virtual Investor Day on February 3, 2026, at 10:00 am EST (16:00 CET).

Total 2025 revenues are estimated to be approximately US$376 million*, exceeding the upwardly revised guidance range of US$365 to US$375 million provided in November 2025 and representing approximately 27% growth versus 2024. This strong performance reflects continued growth of RUCONEST® and rising demand for Joenja®, driven primarily by patient uptake in the U.S. and supported by ongoing geographic expansion. Full-year 2025 operating expenses are expected to be within the previously communicated range of US$304 to US$308 million, underscoring our commitment to cost discipline. Looking ahead, we anticipate sustained revenue growth and continued advancement of our clinical pipeline in 2026. We plan to report complete fourth quarter and full year 2025 financial results on March 12, 2026.

The Investor Day agenda will include a comprehensive update on our advancing pipeline, including leniolisib in Phase II proof of concept clinical trials for primary immunodeficiencies (PIDs) with immune dysregulation, including Common Variable Immunodeficiency (CVID) with immune dysregulation, as well as KL1333 in a pivotal clinical study (FALCON) for mitochondrial DNA (mtDNA)-driven mitochondrial disease. We will also present our 2026 financial guidance, highlighting anticipated revenue drivers and operating expense expectations.

The program will feature presentations from leading clinical experts:

• Jocelyn Farmer, MD, PhD, Lahey Hospital & Medical Center — an internationally recognized authority on immune dysregulation and CVID
• Amel Karaa, MD, Massachusetts General Hospital, Harvard Medical School — an internationally recognized authority on mitochondrial medicine

These key opinion leaders will discuss the evolving understanding of immune dysregulation in PIDs and the unmet need in mtDNA-related mitochondrial disease, providing important clinical context for our development programs.

Fabrice Chouraqui, Chief Executive Officer of Pharming, commented:
“We delivered a strong year in 2025, driven by robust demand for our commercial assets and renewed financial discipline. RUCONEST® continued to grow in an increasingly competitive environment, while Joenja® uptake accelerated with rising U.S. patient demand and international expansion. As we enter 2026, we remain focused on advancing our clinical programs for additional PIDs with immune dysregulation and primary mitochondrial disease, while supporting continued growth of our commercial portfolio to drive long-term value creation. We look forward to providing a deeper update on these initiatives and sharing our 2026 financial outlook at our upcoming Investor Day.”

Additional details for the Investor Day, including registration information, will be made available on our website in the coming weeks.

* Preliminary, unaudited revenues. Final results may differ from the estimates provided in this release and will be reported in the Company’s financial results for the fourth quarter and full year 2025, to be published in March 2026.

About Pharming Group N.V.
Pharming Group N.V. (EURONEXT Amsterdam: PHARM/Nasdaq: PHAR) is a global biopharmaceutical company dedicated to transforming the lives of patients with rare, debilitating, and life-threatening diseases. We are developing and commercializing a portfolio of innovative medicines, including small molecules and biologics. Pharming is headquartered in Leiden, the Netherlands, with a significant proportion of its employees based in the U.S.

For more information, visit www.pharming.com and find us on LinkedIn.

Forward-looking Statements
This press release 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 results, performance, or events to differ materially from those expressed or implied in these statements. These forward-looking statements are identified by their use of terms and phrases such as “aim”, “ambition”, ‘‘anticipate’’, ‘‘believe’’, ‘‘could’’, ‘‘estimate’’, ‘‘expect’’, ‘‘goals’’, ‘‘intend’’, ‘‘may’’, “milestones”, ‘‘objectives’’, ‘‘outlook’’, ‘‘plan’’, ‘‘probably’’, ‘‘project’’, ‘‘risks’’, “schedule”, ‘‘seek’’, ‘‘should’’, ‘‘target’’, ‘‘will’’ and similar terms and phrases. Examples of forward-looking statements may include statements with respect to timing and progress of Pharming's preclinical studies and clinical trials of its product candidates, Pharming's clinical and commercial prospects, and Pharming's expectations regarding its projected working capital requirements and cash resources, which statements are subject to a number of risks, uncertainties and assumptions, including, but not limited to the scope, progress and expansion of Pharming's clinical trials and ramifications for the cost thereof; and clinical, scientific, regulatory, commercial, competitive and technical developments. In light of these risks and uncertainties, and other risks and uncertainties that are described in Pharming's 2024 Annual Report and the Annual Report on Form 20-F for the year ended December 31, 2024, filed with the U.S. Securities and Exchange Commission, the events and circumstances discussed in such forward-looking statements may not occur, and Pharming's actual results could differ materially and adversely from those anticipated or implied thereby. All forward-looking statements contained in this press release are expressly qualified in their entirety by the cautionary statements contained or referred to in this section. Readers should not place undue reliance on forward-looking statements. Any forward-looking statements speak only as of the date of this press release and are based on information available to Pharming as of the date of this release. Pharming does not undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information.

Inside Information
This press release relates to the disclosure of information that qualifies, or may have qualified, as inside information within the meaning of Article 7(1) of the EU Market Abuse Regulation.

For further public information, contact:
Investor Relations
Michael Levitan, VP Investor Relations & Corporate Communications
T: +1 (908) 705 1696
E: investor@pharming.com

Media Relations
Global: Saskia Mehring, Corporate Communications Manager
T: +31 6 28 32 60 41
E: media.relations@pharming.com

U.S.: Ethan Metelenis (Precision AQ on behalf of Pharming)
T: +1 (917) 882-9038

Netherlands: Leon Melens (LifeSpring Life Sciences Communication on behalf of Pharming)
T: +31 6 53 81 64 27

Attachment

• Pharming reports preliminary revenues_Investor Day_EN_08JAN2026

FAQ

What were Pharming (PHARM) preliminary full‑year 2025 revenues?

Preliminary, unaudited 2025 revenues were approximately US$376 million.

How did Pharming's 2025 revenue compare to its guidance and 2024?

The estimate exceeded the revised guidance of US$365–375 million and represents about 27% growth versus 2024.

When is Pharming's Investor Day and what will be covered?

Investor Day is February 3, 2026 at 10:00 am EST and will cover 2026 financial guidance and pipeline updates including leniolisib and KL1333.

When will Pharming publish final audited Q4 and full‑year 2025 results?

The company plans to publish complete fourth quarter and full‑year 2025 results on March 12, 2026.

What are the key clinical programs mentioned in Pharming's announcement?

The update highlights leniolisib in Phase II for PIDs with immune dysregulation and KL1333 in the pivotal FALCON study for mtDNA-driven mitochondrial disease.