Brief: Pharming Group H1 Net Profit Rises To $19.2 Million
04/08/2022 06:43
Aug 4 (Reuters) - Pharming Group NV PHAR.AS :
* TOTAL REVENUES INCREASED 4% IN H1 2022 TO US$96.8 MILLION,
SUPPORTED BY INCREASES IN PHYSICIANS PRESCRIBING AND NUMBER OF
PATIENTS
* CONTINUED INVESTMENT IN LAUNCH PREPARATIONS FOR
LENIOLISIB; POST
PERIOD MILESTONES INCLUDE US FDA FILING AND GRANT OF ACCELERATED
ASSESSMENT IN EMA
* REDUCTION IN MINORITY STAKE OF BIOCONNECTION LEADS TO
RECOGNIZED
GAIN OF US$ 12.8 MILLION
* SUBJECT TO FDA APPROVAL AND GRANTING OF PRIORITY REVIEW BY
FDA
IN US, WE REMAIN ON TRACK FOR COMMERCIAL APPROVAL OF LENIOLISIB
IN Q1 AND MARKET LAUNCH EARLY IN Q2 OF 2023
* ON JULY 29, 2022, A NEW DRUG APPLICATION (NDA) WAS
SUBMITTED TO
US FDA FOR LENIOLISIB, FOR TREATMENT OF ACTIVATED
PHOSPHOINOSITIDE 3-KINASE DELTA (PI3KΔ) SYNDROME (APDS) IN
ADULTS AND ADOLESCENTS AGED 12 OR OLDER
* H1 REVENUE $96.8 MILLION VERSUS $93.2 MILLION YEAR AGO
* H1 OPERATING PROFIT $20.6 MILLION VERSUS $17.2 MILLION
YEAR AGO
* NET PROFIT FOR H1 2022 WAS US$19.2 MILLION, A 33% INCREASE
COMPARED TO H1 2021 (US$14.4 MILLION)
* CASH AND CASH EQUIVALENTS, TOGETHER WITH RESTRICTED CASH,
DECREASED FROM US$193.0 MILLION AT END OF 2021 TO US$190.9
MILLION AT END OF Q2 2022
* FOR REMAINDER OF 2022, WE EXPECT:SINGLE DIGIT GROWTH IN
GROUP
REVENUES FROM RUCONEST® SALES, DRIVEN BY US AND EXPANDED EU
MARKETS, ARE SUBJECT TO POTENTIAL BUSINESS RESTRICTIONS RELATED
TO COVID-19 PANDEMIC. QUARTERLY FLUCTUATIONS ARE EXPECTED
Source text for Eikon: ID:nNDL16Xt3g
Further company coverage: PHAR.AS
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