What's Going On With Netherlands-Based Biopharma Company Pharming Shares Today?
Portfolio Pulse from Lekha Gupta
Pharming Group (NASDAQ:PHAR) has updated its full-year 2023 guidance, projecting a 19% revenue increase to approximately $245 million, with RUCONEST revenues expected to rise by 10% to about $227 million. The company also anticipates Joenja revenues of around $18 million following its U.S. launch for APDS. As of December 31, 2023, PHAR reported 92 APDS patients enrolled in the U.S., with 81 on paid therapy, and preliminary cash and securities of $215 million. CEO Sijmen de Vries outlined goals for 2024, including global regulatory approvals and expansion of leniolisib's market. PHAR shares saw a slight decrease of 0.03% in premarket trading.
January 08, 2024 | 2:27 pm
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POSITIVE IMPACT
Pharming Group anticipates a significant revenue increase and has successfully launched Joenja in the U.S. for APDS treatment, with a strong patient uptake. The company also has a solid cash position and plans for further global expansion and development in 2024.
The positive revenue guidance and successful product launch indicate strong company performance and potential for growth, which is likely to be viewed favorably by investors. The slight premarket stock dip may be a temporary reaction, and the overall positive news could lead to a short-term increase in stock price.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100