Pharming Group N.V. (OTCPK:PHGUF) Q3 2023 Earnings Conference Call October 26, 2023 7:30 AM ET
Company Participants
Sijmen de Vries - Chief Executive Officer
Stephen Toor - Chief Commercial Officer
Anurag Relan - Chief Medical Officer
Jeroen Wakkerman - Chief Financial Officer
Conference Call Participants
Christian Glennie - Stifel
Alistair Campbell - Royal Bank of Canada
Sushila Hernandez - Van Lanschot Kempen
Joe Pantginis - H.C. Wainwright
Hartaj Singh - Oppenheimer
Simon Scholes - First Berlin
Operator
Good day and thank you for standing by. Welcome to the Pharming Group N.V. Third Quarter 2023 Results Conference Call and Webcast. At this time, all participants are in a listen-only mode. After the speakers’ presentation, there will be a question-and-answer session. [Operator Instructions]. Please be advised that today’s conference is being recorded.
I would now like to hand the conference over to your first speaker today, Sijmen de Vries, CEO of Pharming Group. Please go ahead, sir.
Sijmen de Vries
Thank you very much and good morning or good afternoon, ladies and gentlemen. I’m here with my three colleagues, Stephen Toor, our Chief Commercial Officer; Anurag Relan, our Chief Medical Officer; and Jeroen Wakkerman, our Chief Financial Officer and we are delighted to take you through the third quarter results of this year.
Before I do that, however, I would like to point you to the forward-looking statement slides, because this presentation may contain or will probably contain forward-looking statements that, as you know, are statements of future expectations that are based on our current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. And the rest I leave to you to read.
So let’s just move on to the next slide and then, of course, to the next slide. About building a sustainable business in rare diseases. And that’s what we are about. And this is, of course, a very interesting moment in time, quarter results of 2023. And you see that on the left-hand side, how we are going to start to build that rare disease, the sustainable rare disease business.
We have significant positive cash flows for more than $200 million of moving annual total sales of RUCONEST that can fund Joenja launches and pipeline development to start with. And we are very pleased, of course, with the results and a strong revenue growth of RUCONEST 18% up on the second quarter and 11% up on last year’s third quarter. And also, if you look back nine months, so year-to-date, 2% up on last year. That means that, we are on track to deliver our low single-digit revenue growth for RUCONEST for 2023.