Pharming Group announces updated full year 2023 guidance and Joenja U.S. launch update

Expect 10% growth in RUCONEST revenue, significantly exceeding prior guidance

Expect Joenja revenues of approximately US$18 million with 81 patients on paid therapy at year end

Leiden, The Netherlands, January 8, 2024: Pharming Group N.V. (“Pharming” or “the Company”) (EURONEXT Amsterdam: PHARM/Nasdaq: PHAR) announces today updated full year 2023 guidance, including RUCONEST and Joenja revenues, and a progress update on the U.S. launch of Joenja (leniolisib) for APDS. For the full year 2023, total revenues are expected to increase by 19% to approximately US$245 million (preliminary and unaudited*).

Sijmen de Vries, Chief Executive Officer, commented:

“We are pleased to have concluded an excellent year in which we transformed Pharming into a multi-product, commercial rare disease biopharmaceutical company. We expect 10% growth in RUCONEST revenues, significantly exceeding our previous guidance for low single digit annual revenue growth. We launched Joenja (leniolisib) for APDS in the U.S. in April, shortly after FDA approval, and saw fast uptake from patients for the first and only FDA approved treatment for APDS. These results reflect the dedication of Pharming employees to develop and deliver therapies to otherwise unserved rare disease patients. Looking towards 2024, we remain focused on our goals to obtain regulatory approvals and commercialize leniolisib for APDS in additional global markets, and to further develop our rare disease pipeline and footprint. We seek to significantly expand the leniolisib market opportunity by pursuing development of leniolisib for additional primary immunodeficiencies (PIDs) beyond APDS, including a Phase 2 proof of concept clinical trial protocol in PIDs with immune dysregulation linked to PI3Kẟ signaling planned to start in 2Q 2024.”

Updated 2023 guidance (preliminary and unaudited*)

RUCONEST for HAE

• For the full year 2023, we expect RUCONEST revenues to increase by 10% to approximately US$227 million, significantly exceeding our previous low single digit growth guidance.
• New patient enrollments in 2023 were up 25% vs. the prior year and were a significant driver of the strong RUCONEST revenue growth achieved throughout 2023.
• In 2023, Pharming saw the first full-year, post-pandemic benefit of its first quarter 2020 restructuring and expansion of its U.S. salesforce. The Company achieved record numbers in leading metrics including increasing the RUCONEST physician prescriber base by 13% during the year, in many cases adding previously unknown HAE prescribers.

Joenja (leniolisib) for APDS