On July 29, 2026 PharmaMar Group (MSE: PHM) reported the close of first half of the year with an 18% increase in recurring revenue, defined as the sum of net sales and royalties received from our partners, reaching €85.1 million, despite the fact that the commercial launch of Zepzelca (lurbinectedin) in Europe had not yet commenced as of the end of the period.

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As of June 30th, 2026, net sales increased by 1.3% to €46.4 million. This growth was driven by lurbinectedin revenue in Europe, particularly through compassionate use programs, mainly in France, where revenue increased by 39.5% to €21.6 million. Sales of active pharmaceutical ingredients to our partners, for both lurbinectedin and Yondelis (trabectedin), rose 16.2% to €15.9 million.

At the end of the first half of 2026, oncology royalty income increased by 46.3% year-on-year to €38.7 million. This growth was primarily driven by a 50.5% increase in royalties received from our partners’ sales of lurbinectedin, which reached €31.6 million[1]. Meanwhile, royalties received from trabectedin sales in the United States increased by 30.1% to €7.1 million during the first six months of the year.

Non-recurring revenue totaled €7.4 million as of June 30th, 2026, compared with €23.0 million in the same period of the previous year. This difference is mainly explained by the fact that non-recurring revenue in the first half of 2025 included a €22 million upfront payment from Merck related to the licensing of lurbinectedin in Japan.

As a result, PharmaMar Group’s total revenue reached €92.5 million at the end of the first half of 2026, compared with €95.3 million as of June 30th, 2025. Consequently, the strong growth of the recurring business during the period largely offset the impact of the upfront payment recognized in the first half of the previous year.

During the first six months of 2026, PharmaMar Group’s R&D investment amounted to €47.3 million, compared with €47.5 million recorded as of June 30th, 2025.

Of the total R&D investment, the oncology segment accounted for €45.3 million, compared with €44.8 million in June 2025. Investment increased by 1% year-on-year, mainly due to spending on the Phase III SaLuDo trial evaluating lurbinectedin in combination with doxorubicin as a first-line treatment for leiomyosarcoma, for which patient recruitment was completed during the period, as well as increased investment in the early-stage compounds PM54 and PM534.

As of June 30th, 2026, PharmaMar Group’s EBITDA amounted to €3.6 million, compared with €25.1 million in the same period of the previous year. The difference between the two periods is attributable both to the income generated by the lurbinectedin licensing agreement in Japan and to the recognition in 2025 of €14.7 million in grants awarded to Sylentis under the European IPCEI program.

As a result of the above, PharmaMar Group reported net profit of €0.6 million, compared with €19.4 million in the first half of the previous year.

As of June 30th, 2026, PharmaMar Group’s cash and cash equivalents increased by €1.7 million to €169.5 million. At the same time, total financial debt decreased by €3.5 million to €43.0 million. As a result, the Group’s net cash position increased by €5.2 million to €126.4 million at the end of the period.

PharmaMar will host a conference call for analysts and investors on July 30th, 2026, at 13:00 CET. To join the conference call, participants are encouraged to register via the following link to receive dial-in details and a personalized PIN:

To access the call without prior registration, please use one of the following numbers:

• Spain: +34 91 901 16 44
• United States/Canada: +1 646 664 1960
• Other countries: +44 20 3936 2999

Participant access code: 442855

In addition, the presentation can be followed live through the following webcast link.

(Press release, PharmaMar, JUL 29, 2026, View Source [SID1234669495])