Pharming Cuts 2026 Revenue Guidance by $30M Despite Joenja Momentum
PHAR sits 26% above its 52-week low of $9.535 on light trading volume (0.4× avg).
Summary
Pharming reported Q2 2026 revenue of $90.2M, down 3% year-over-year, with RUCONEST declining 10% to $72.3M while Joenja grew 40% to $17.9M. Operating profit collapsed to $1.3M from $10.8M a year ago, hit by inventory impairments and a France site closure. The company cut full-year revenue guidance by $30M to $375M-$395M, though it improved operating expense guidance by $15M. Joenja's first European launch in Germany and upcoming Q4 CVID data readouts offer pipeline upside, but the near-term revenue miss and margin pressure are the dominant signals. This follows the Q1 2026 mixed results and the recent EU Joenja approval, but the guidance cut is a fresh negative that traders will price in immediately.
Updates
· SEC 6-K — The 6-K includes the full press release with detailed financials: Q2 operating profit $1.3M, net profit $1.6M, cash $159.5M, and 132 U.S. Joenja patients on paid therapy.
At the time of this announcement, PHAR was trading at $12.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $886.7M. The 52-week trading range was $9.54 to $21.34. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Dow Jones Newswires.