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Dec 31, 2024
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Pharming Group NV Q4 2024 Earnings Report
Pharming reported strong revenue growth in Q4 2024, driven by RUCONEST® and Joenja® sales.
Key Takeaways
Pharming's Q4 2024 revenue increased by 14% year-over-year to $92.7 million, with RUCONEST® revenue rising 9% and Joenja® revenue surging 66%. Operating profit grew significantly, reflecting strong product performance and increased patient enrollments. The company continued investments in research and acquisitions to expand its rare disease portfolio.
Total revenue increased 14% YoY to $92.7 million.
RUCONEST® revenue rose 9% to $79.6 million, while Joenja® revenue surged 66% to $13.1 million.
Operating profit jumped to $6.7 million from $1.1 million in Q4 2023.
Net income reached $3.7 million, reversing a loss of $3.1 million in Q4 2023.
Pharming Group NV
Pharming Group NV
Pharming Group NV Revenue by Segment
Pharming Group NV Revenue by Geographic Location
Revenue by Segment
RUCONEST® (US) Revenue
CapyFin.comRUCONEST® (EU & RoW) Revenue
CapyFin.comJoenja® (US) Revenue
CapyFin.comJoenja® (EU & RoW) Revenue
CapyFin.comRevenue by Geographic Location
United States Revenue
CapyFin.comEU & Rest of World Revenue
CapyFin.com Forward Guidance
Pharming expects continued growth driven by RUCONEST® and Joenja®, with expansion into new markets and additional regulatory approvals in 2025.
Positive Outlook
- Projected total revenue between $315 million and $335 million for 2025.
- Increased Joenja® patient enrollment and global expansion efforts.
- Further regulatory approvals for leniolisib in Japan and pediatric indications.
- Advancement of Phase II trials for primary immunodeficiencies.
- Completion of the Abliva acquisition to strengthen the rare disease portfolio.
Challenges Ahead
- Potential fluctuations in quarterly revenue due to product launches.
- Higher research and development costs from clinical trial expansions.
- Regulatory uncertainties in multiple global markets.
- Macroeconomic conditions affecting healthcare spending.
- Integration costs associated with the Abliva acquisition.
Revenue & Expenses
Visualization of income flow from segment revenue to net income