Pharming Group's Q4 Revenue Growth#
Pharming Group NV has announced its fourth quarter revenue of $106.5 million, marking a 15% increase compared to the same period last year. This growth reflects the company's strong performance in the biopharmaceutical sector.
Full-Year Performance#
For the entire year, Pharming reported total revenues of $376 million, which is a significant 26% growth from 2025. The company's key products, Ruconest and Joenja, contributed to this positive trend, with Ruconest sales reaching $87 million in Q4, up 9% year-over-year. Joenja sales saw an impressive 52% increase year-over-year, totaling $20 million in the fourth quarter.
Patient Growth and Market Demand#
During the fourth quarter, Pharming added four new US patients on paid Joenja therapy, bringing the total to 120 patients by December 31, 2025. The company also identified 40 new US patients diagnosed with APDS (Activated PI3K Delta Syndrome) in 2025, a notable increase from 18 in 2024. Additionally, there has been growing demand in international markets, particularly in the UK following Joenja's launch in April 2025.
Financial Outlook for 2026#
Looking ahead, Pharming projects total revenues for fiscal year 2026 to be between $405 million and $425 million, indicating an expected growth of 8% to 13% year-over-year. The company anticipates continued growth for Ruconest and Joenja in both US and international markets. Operating expenses are expected to rise to between $330 million and $335 million, which includes increased investment in research and development for ongoing clinical trials. Cash reserves stood at $181 million at the end of December 2025, reflecting a solid financial position.