Q2 2026 Pharma Mar SA Earnings Call Transcript

Jul 30, 2026 / 11:00 AM GMT

Release Date Price: €78.95 (+0.96%)

Transcript

Key Points

Positve

Strong growth in recurring revenues, with net sales from CEPCELCA increasing by 23% and royalty income rising 46% overall.
Royalties from Sepzelka in the U.S. surged over 50%, reflecting strong commercial traction following the first-line maintenance launch.
European approval of Fetzelka in June 2026 opens a significant new growth source, with initial adoption in Germany and Austria exceeding expectations.
Positive operating cash flow of EUR 11.9 million and net cash of EUR 126.4 million, with debt reduced by 8% to EUR 43 million.
Pipeline progress includes PM54 and PM534 trials showing encouraging early data, with plans for registrational trials by 2028.

Negative

EBITDA dropped sharply to EUR 3.5 million from EUR 25.1 million year-over-year, due to non-recurring revenues in 2025.
Total revenues fell 3% to EUR 92.5 million, impacted by the absence of a EUR 20.7 million upfront payment from a 2025 licensing deal.
Selling and marketing expenses increased in preparation for the European launch, though expected to moderate in the second half.
Pricing and reimbursement negotiations across Europe are ongoing and uncertain, with full market access not expected until late 2027.
Competitive pressure from Chinese products like atezolizumab and cepurlimab in Europe, though current impact is limited.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

PHMR.MC - Pharma Mar SA
Q2 2026 Pharma Mar SA Earnings Call
Jul 30, 2026 / 11:00AM GMT

=====================
Presentation
--------------------------------------------------------------------------------
Unidentified_1 [1]
--------------------------------------------------------------------------------
Thank you, Gabi, and good morning, everyone.

Thank you for joining us today for PharmaMar's first half earnings conference call.

On the call with me today, I'm Maria Luis Alpencia, Chief Financial Officer, Luis Mora, Managing Director of PharmaMar, and Pascal Desmond, Chief Strategic Officer.

And as we always do, after our comments, we'll open the floor.

To your questions. And before we begin, please note that certain statements made during this call might constitute forward-looking statements.

And these statements are based on our current expectations and actual results might differ materially from those projected.

So a full safe harbor statement is available in the corporate presentation

Already have an account? Log in

Get the full story

Subscribe Now

	Access to All Earning Calls and Stock Analysis
	30-Year Financial on one screen
	All-in-one Stock Screener with unlimited filters
	Customizable Stock Dashboard
	Real Time Insider Trading Transactions
	8,000+ Institutional investors’ 13F holdings
	Powerful Excel Add-in and Google sheets Add-on
	All data downloadable
	Quick customer support
	And much more...

7-Day Free Trial · Cancel Anytime

Subscription fee may be tax deductible.

Excellent

4.6 out of 5

Trustpilot

Research Tools

All-In-One Screener Stock Ideas Stock List Guru List Guru Real-Time Picks Insider List Insider Trades Economic Indicators Sector & Industry Performance DCF Calculator Calculators Discussion Board

Product

Pricing Plans Excel Add-In Google Sheets Add-on Data API Stock Comparison Table Manual of Stocks Instant Alerts Mobile App Newsletters Signup 中文

Education

Financial Glossary Tutorials FAQ Buffett Indicator Shiller P/E Yield Curve Today U.S. Inflation Rate Global Market Valuation Fed Net Liquidity Buffett Assets Allocation

Company

About GuruFocus Career Contact Us Advertise Term of Use Privacy Policy Referral Program Partner Program

Survey

We'd love to learn more about your experiences on GuruFocus.com and how we can improve!

Take Survey

Disclaimers

GuruFocus.com is not operated by a broker or a dealer. Under no circumstances does any information posted on GuruFocus.com represent a recommendation to buy or sell a security. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The individuals or entities selected as "gurus" may buy and sell securities before and after any particular article and report and information herein is published, with respect to the securities discussed in any article and report posted herein. Gurus may be added or dropped from the GuruFocus site at any time. In no event shall GuruFocus.com be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on GuruFocus.com, or relating to the use of, or inability to use, GuruFocus.com or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Past performance is a poor indicator of future performance. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The gurus listed in this website are not affiliated with GuruFocus.com, LLC. Stock quotes are provided by QuoteMedia, Inc. (CSI). Company fundamental data is provided by Morningstar. Analyst estimates data is sourced from both Refinitiv and Morningstar, with priority given to Refinitiv data. Data is updated daily.