Pharming Group N.V.

Thank you, operator. Good morning and good afternoon, everyone, and welcome to our Q2 2026 earning calls. I'll be joined on this call today by Leverne Marsh, our chief commercial officer, Anurag Relan, our chief medical officer, and Kenneth Lynard, our chief financial officer. 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. As you saw in today's press release, while we lowered our full-year revenue guidance, we are encouraged by the resilience of Reconest with robust underlying demand indicators. Joe and Jack continue to deliver strong growth, and we are approaching a number of significant near-term catalysts. Before I go into more detail on the quarter, Let me take a step back and put these developments into the context of the ongoing transformation of farming. We are evolving farming into a more diversified rare disease company with an increasingly attractive long-term growth profile. This is supported by three key pillars. Ruconest, which provides a durable source of cash flow. Johanja, a high growth asset still early in the cycle with significant commercial opportunities ahead, and a high-value pipeline with two potential billion-dollar opportunities. Each of these pipeline programs has the potential to naturally increase our scale and are important steps forward in our ambition to making farming a leading global rare disease company. We've made important progress across the business during the second quarter, despite a 3% year-over-year decline in total revenue. Reconest revenue declined to $72.3 million compared with $80.4 million in the second quarter of last year. However, we are encouraged by the underlying performance indicators, which demonstrate the resilience of Reconest in an evolving on-demand HA market. One year after the launch of the first oral on-demand HA treatment, the recognized active patient base remained at 93% of levels a year ago. We are also seeing strong new patient enrollments which have returned to levels close to those of a year ago. and we expect this to support momentum over the coming months as these patients initiate treatment. We also continue to see new prescribers using RECONNESS, which underscore RECONNESS differentiated value proposition for high burden patients. Leverne will provide further detail on the RECONNESS performance later in the call. Turning to JOINJA, we delivered another quarter of strong growth. with revenue increasing by 40% to $17.9 million. We remain focused on expanding the opportunity for GeoNja in APDS through both label and geographic expansion, and we are pleased to see commercial momentum accelerating in Europe. Beyond APDS, we see a potentially significant opportunity for Lenyalizib in broader primary immunodeficiency. including Sivit. These indications represent an addressable patient population up to 40 times larger than APDS. Anurag will provide more detail on the mechanistic rationale underpinning our excitement in these additional indications. With greater visibility into the current HAE market dynamics, which is much clearer, a full year after the launch of the first overall on-demand treatment, we have decided to lower our full-year revenue guidance by $30 million. Nevertheless, based on the underlying trends we are seeing, we expect recognized revenue to stabilize and to return to growth during the second half of 2026. Importantly, our increasingly disciplined operating model has enabled us to maintain positive cash flow from operations. We have also reduced our full year operating expense guidance by $15 million to a range of $315 to $320 million. So as we position farming for an important second half of 2026, Our priorities are clear. First, we will continue to reinforce, recognize differentiated value proposition for high disease burden patients and build on the solid underlying performance indicators that we have seen in the second quarter. Second, we will continue to drive the growth of the joint job franchise supported by the potential pediatric labor extension in the U.S. and further geographic expansion into new markets, including Japan. And importantly, we expect to advance our pipeline at pace with the readout in Q4 of the two Phase II studies for lenulizib in much broader CV patient population. Success in this indication could expand the annual sales potential of Joenja to more than a billion dollars and establish Joenja as a blockbuster franchise. With that, I will turn the call over to Leverne to discuss our progress on the commercial front. Leverne?

Thank you, Fabrice. Good morning, good afternoon, everyone.

Let me begin with Rucanest.