Pharming Group N.V.

Good day and thank you for standing by. Welcome to the Farming Group NV first quarter 2026 results webcast and conference call. At this time, all participants are in a listen only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 and 1 on your telephone. You will then hear an automated message advising your hand is raised. To withdraw your question, please press star 1 and 1 again. Please be advised that today's conference is being recorded. I would now like to hand the conference over to your first speaker today, Fabrice Chiraki, CEO. Please go ahead.

Thank you, operator, and good morning and good afternoon, everyone, and welcome to our Q1 2026 earning call. I'll be joined on this call today by Libran March, our Chief Commercial Officer, Anurag Relan, our Chief Medical Officer, and Kenneth Linus, our Chief Financial Officer. Next slide. In this call, we will be making forward-looking statements that are based upon our current insights and plans. As you know, this may differ from future results. Next slide. As you saw in our press release, we made important progress across the business in this first quarter, despite the drop in quarterly revenue driven by WKNF. The reconnaissance revenue decline was largely expected due to inventory drawdown at specialty pharmacies, which we discussed on our Q4 2025 call in March. The commercial exit from non-US markets also contributed to the year-on-year decline. We announced that decision last year as part of our renewed financial discipline, since the commercialization of reconnaissance in these markets was not financially sustainable. Now, if we look at the underlying fundamentals, we see limited interest from patients on RECONNESS to trial alternative therapies. Nine months after the launch of the new oral therapy, we have retained the overwhelming majority of RECONNESS patients, and we continue to see new patients starting RECONNESS. Leverne will elaborate on this market dynamic in a few moments. Coming now to Johanja, this product is an important growth driver still early in its lifecycle. JoinJar revenues grew by 34%, reflecting strong momentum both in the US, where the number of patients increased by 25% year on year, but also in international markets. We've also made meaningful regulatory progress this quarter, positioning us well to launch JoinJar in Japan, and in Europe later this year, and to extend join just label to the pediatric population in the U.S. After the disappointing CRL, we had a constructive dialogue with the FDA, and we've already resubmitted the SNDA for the two highest dose, covering a meaningful proportion of children from four to 11. We are also planning to submit an SNDA this summer for the lowest dose. Finally, our disciplined cost management helps us to maintain positive cash flow from operations in this quarter, despite the viability in revenues. We are maintaining our revenue guidance of $405 to $425 million for 2026, representing growth between 8% and 13% year-on-year. Next slide. As you can see, the durability of the Rukoneth franchise and the strong momentum and growth potential of Georgia underpin the transformation of farming into a profitable high-growth biotech with two late-stage pipeline programs offering billion-dollar sales potential. Rukoneth is the foundation of our portfolio and a reliable cash engine for the future. Even in an ever more crowded HAE market, given its differentiated value proposition for the difficult-to-treat patients subpopulation and its highly specific manufacturing process. Joinger is just at the beginning of its life cycle with multiple growth catalysts in APDS through pediatric and geographic expansion and the potential expansion into higher-prevalent PIDs with two Phase II readouts later this year. Anurag will discuss an exciting presentation at CIS conference taking place today that summarizes clinician experience treating patients with CBIT with immune dysregulation enrolled in our ACCESS program. And last but not the least, Napa Zimot, previously known as KL1333, for primary mitochondrial disease is another billion-dollar-plus opportunity, with the registrational study expected to complete enrollment this year and readout next year. These commercial assets and high-value pipelines, combined with durable source of cash flow, provide a solid foundation for farming to become a leading global rare and ultra-rare disease company with substantial near and long-term value creation potential. Let me now turn it over to Lever who will provide deeper insights into the performance of our commercial products.

Good morning, good afternoon, everybody.