Brief: Pharming Group Q1 Revenues Up At $55.6 Million

Pharming

08/05/2024 06:33

May 8 (Reuters) - Pharming Group NV  PHAR.AS :
    * PHARMING GROUP REPORTS FIRST QUARTER 2024 FINANCIAL
RESULTS AND
PROVIDES BUSINESS UPDATE
    * Q1 NET INCOME USD -12.4 MLN
    * Q1 BASIC EPS USD -0.019
    * Q1 GROSS PROFIT USD 47.2 MLN
    * Q1 OPERATING PROFIT USD -16.3 MLN
    * ON TRACK FOR 2024 TOTAL REVENUE GUIDANCE OF USD 280 MLN -
USD
295 MLN (14 - 20% GROWTH)
    * Q1 2024 REVENUES INCREASED BY 31% TO USD 55.6 MLN
    * OVERALL CASH AND MARKETABLE SECURITIES OF USD 203.5 MLN AT
END
OF QUARTER
    * OUTLOOK 2024: CONTINUED OPERATING COST INVESTMENTS TO
ACCELERATE
FUTURE REVENUE GROWTH
    * OUTLOOK 2024: CONTINUED FOCUS ON POTENTIAL ACQUISITIONS
AND
IN-LICENSING OF CLINICAL STAGE OPPORTUNITIES IN RARE DISEASES

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