Pharma Mar SA

PHM

Equity

ISIN ES0169501022 / Valor 56130572

BME Bolsas y Mercados Espanoles - Renta Variable (2026-07-31)

EUR 79.05-1.37%

Pharma Mar SA
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About company

Pharma Mar SA, headquartered in Madrid, Spain, is a biopharmaceutical company specializing in the development of oncology drugs derived from marine biodiversity. Established in 1986, the company has a strong focus on researching and developing treatments for rare cancers, leveraging the unique antitumor properties found in marine organisms. Pharma Mar commercializes three main drugs, which, through partnerships with 18 companies, are distributed in over 70 countries. The company has a significant international presence with subsidiaries in Germany, France, Italy, Belgium, Austria, Switzerland, and the United States. Pharma Mar is committed to reinvesting its profits and partner revenues into research and development, as well as the continuous training of its team, to advance its mission of providing innovative cancer therapies.

Summarized from source with an LLMView SourceSector: Healthcare

Top‑line performance

Recurring revenue (net sales + royalties) grew 19% to €37.8m in Q1 2025; net oncology sales were €23.1m (+22%) and oncology royalties €14.7m (+16%). Non‑recurring licensing revenue fell to €1.0m (vs €6.3m in Q1 2024), reflecting lower recognition from the 2019 Jazz agreement.

Profitability

EBITDA improved materially to -€1.1m (from -€2.8m in Q1 2024). Despite the EBITDA improvement, the Group reported a net loss of -€3.9m in Q1 2025 versus a €2.3m profit a year earlier, driven by weaker financial results and lower tax benefits this quarter.

R&D and operating costs

R&D expenditure declined 22% to €21.3m, mainly due to completion of large Phase III recruitments in 2024 (LAGOON and PIVO1). Other operating expenses rose 25% to €17.4m, reflecting higher marketing headcount ahead of European Zepzelca launches and commissioning of Sylentis’ production facility.

Cash, debt and liquidity

At 31 March 2025 Pharma Mar SA held €142.2m of cash and financial investments (cash & equivalents + financial assets) and total financial debt of €48.5m, resulting in a reported net cash position of €93.7m — sufficient, the company says, to fund planned R&D and development activities.

Product and royalty drivers

Growth was led by lurbinectedin (Zepzelca) performance in Europe (including compassionate use) and higher US royalties from Jazz Pharmaceuticals; Jazz‑derived royalties for Q1 are reported as an estimate and may be adjusted in subsequent quarters.

Corporate milestones & capital allocation

Pharma Mar SA signed an exclusive license with Merck for Zepzelca in Japan (upfront €22m expected in Q2 2025) and the Board declared a €0.80 per‑share dividend. ETHIFINANCE affirmed a BB+ rating with a stable outlook.

RNAi / Sylentis update

Sylentis received selection for an IPCEI Med4Cure grant of €21.1m to support SYOLIGO and a new RNA manufacturing plant; Phase II results for SYL1801 were expected in H1 2025 per the report.

Summarized from source with an LLMView Source

Key figures

-1.43%1Y

131%3Y

9.73%5Y

Performance

44.5%1Y

43.4%3Y

42.5%5Y

Volatility