Pharming Group (NASDAQ:PHAR) reported a significant shift in its financial trajectory for the full year 2025, posting total revenues of $376.1 million, a 27% increase over the previous year.
The Amsterdam-based biopharmaceutical firm successfully swung to an operating profit of $25.8 million, a sharp reversal from the operating loss recorded in 2024.
The growth was driven by a dual-engine performance from its commercial products.
RUCONEST, the company's treatment for hereditary angioedema, saw full-year revenue climb 26% to $317.9 million.
Meanwhile, Joenja (leniolisib), the first approved treatment for APDS, recorded a 29% increase in annual revenue to $58.2 million, with fourth-quarter sales alone surging 53% to $19.8 million as global patient uptake accelerated.
Pharming’s operational efficiency also saw marked improvement, generating $54.7 million in net cash flow from operations, compared to negative cash flow in the prior year.
This liquidity provides a stable foundation for the company’s 2026 clinical milestones, which include Phase II readouts for leniolisib in primary immunodeficiencies and the completion of enrollment for the pivotal FALCON study of napazimone in mitochondrial disease.
Looking ahead, management issued a bullish 2026 revenue guidance of $405 million to $425 million, representing projected growth of 8% to 13%.
The company expects Joenja to remain the primary catalyst for this expansion as it continues its international rollout and pursues label expansions.