Pharming Group N.V. (NASDAQ:PHAR) reported preliminary, unaudited full-year 2025 revenues of approximately $376 million, topping its own recently elevated guidance and marking a 27% increase over 2024.
The results highlight the growing commercial momentum for its flagship hereditary angioedema (HAE) treatment, Ruconest, and the continued market penetration of Joenja.
The $376 million figure slightly edged past the company’s November guidance of $365 million to $375 million.
Pharming attributed the performance to strong patient uptake in the U.S. and ongoing geographic expansion.
Crucially, the company appears to be maintaining cost discipline amid this growth, with preliminary operating expenses expected to land between $304 million and $308 million—fully in line with previous communications.
Investors are now looking toward a pivotal virtual Investor Day scheduled for February 3, 2026.
Management is expected to provide 2026 financial guidance and critical updates on its R&D pipeline.
High on the agenda are the Phase II proof-of-concept trials for leniolisib in primary immunodeficiencies (PIDs) and the pivotal FALCON study for KL1333, a potential treatment for mtDNA-driven mitochondrial disease.
The rare disease specialist is also awaiting a key regulatory catalyst this month: an FDA decision on the supplemental New Drug Application (sNDA) for leniolisib in children aged 4 to 11, which carries a PDUFA action date of January 31, 2026.
A positive decision would significantly expand the addressable market for the drug.
Pharming plans to release its final audited financial results for the fourth quarter and full year on March 12, 2026.