Pharming Group jumps after it hikes Ruconest revenues guidance

Pharming

08/01/2024 09:27

** Shares in Pharming Group  PHAR.AS  jump around 7% after
the Dutch biopharmaceutical company hiked its revenues guidance
for its key drug used to treat sudden attacks of severe swelling
in hereditary angioedema
    ** It now expects a 10% growth in Ruconest revenues for the
year to about $227 million, exceeding its previous guidance for
a low single digit annual revenue growth
    ** Its preliminary FY revenues are expected to rise 19% to
about $245 million
    ** "A very good publication considering the relatively
difficult previous years in terms of growth," says Portzamparc
in a note
    ** The brokerage flags a "comfortable and stable" end-2023
cash flow at 215 million euros ($235.04 million), adding that it
will help financing short to medium term pipeline development
that the company is aiming to achieve

 (Reporting by Clement Martinot)
 ((Clement.martinot@tr.com))