PM-54

The group’s total revenue for the nine months ending September 30th has grown by 8% over 2023, reaching €126.5 million. Sales royalties have recorded a 10% increase, reaching €42.2 million. As of September 30th, PharmaMar Group’s EBITDA is €6.2 million, representing a 14% increase compared to the same period in 2023. PharmaMar closes the first nine months of 2024 with a net profit of €7.4 million. PharmaMar Group (MSE: PHM) reported total revenue of €126.5 million for the nine months ending September 30th, 2024, representing an 8% increase over revenue reported in the same period of the previous fiscal year. Recurring revenue, which includes net sales plus royalties received from our partners, were €99.2 million, compared to €98.3 million as of September 30th, 2023. Oncology sales amounted to €57.0 million, compared to €59.1 million in the previous year. Total Zepzelca® (lurbinectedin) sales during this period (€29.3 million) include commercial sales in Europe totalling €5.5 million, plus revenues under the compassionate use program, mainly in France, totalling €17.9 million, and sales of raw materials totalling €5.9 million. As of September 30th, 2023, total lurbinectedin revenues amounted to €32.8 million, due to the reversal of a provision for discounts that were not applied, amounting to €10.4 million. Without this accounting adjustment, lurbinectedin’s total sales in the first nine months of 2024 would have grown by approximately 30%. Yondelis® (trabectedin) sales increased in the period to €27.8 million with commercial sales in Europe of €15.7 million, along with sales of raw materials to our partners totalling €12.1 million. As of September 30th, 2023, total trabectedin sales amounted to €26.4 million. Higher sales of raw materials to our partners have offset the price impact of the entry of generics. Meanwhile, as of September 30th, 2024, royalty revenue reached €42.2 million, representing a 10% increase compared to the same period in the previous fiscal year. This growth is driven by royalties received from our partner Jazz Pharmaceuticals for lurbinectedin sales in the U.S., which have increased by 8% to €38.4 million. The royalties corresponding to the third quarter of 2024 are an estimate, as information on Jazz Pharmaceuticals' sales is not available at the time of this financial report publication. Any discrepancies will be adjusted in the following quarter. In addition to the royalties received from Jazz Pharmaceuticals up to September 30th, royalties from trabectedin sales by our partners in the U.S. and Japan totalled €3.5 million. This figure represents a 25% increase over the total royalties received in the same period of the previous year. Regarding non-recurring income from licensing agreements, as of September 30, 2024, a total of €26.9 million was recorded, representing a 42% increase compared to the same period of the previous year. Of this total, €17.2 million corresponds to the deferred income from the 2019 agreement with Jazz Pharmaceuticals related to lurbinectedin, and €8,7 million corresponding to a payment received under the license agreement with Janssen regarding trabectedin. R&D investment reached €76.0 million during the first nine months of 2024, an increase of 8% compared to the same period of the previous year. Of the total R&D allocation as of September 30th, 2024, the oncology segment saw an 17% increase to €70.0 million. This increase is primarily due to progress in ongoing clinical trials, mainly the SaLuDo trial (Phase IIb/III clinical development for Leiomyosarcoma) and the LAGOON trial (Phase III clinical development for second-line treatment of Small Cell Lung Cancer). The latter trial is expected to complete recruitment by the end of 2024. Additionally, the Company continues to invest in the clinical development of other molecules in earlier stages. In this regard, there are two ongoing Phase II clinical trials with ecubectedin in solid tumors, as well as Phase I trials with PM534 and PM54 for the treatment of solid tumors. Thanks to increased revenue, as of September 30th, 2024, PharmaMar Group achieved an EBITDA of €6.2 million, representing a 14% growth compared to the same period of the previous year. As a result, the Company’s net profit reached €7.4 million as of September 30th, 2024. At the end of the quarter, PharmaMar Group reported cash and equivalents of €148.2 million and increased its debt position by €11.0 million due to a long-term bank loan of €15.0 million. Thus, following the completion in September of the share buyback program totalling €5.0 million and the dividend payment in June amounting to €11.4 million, the net cash position stands at €97.3 million. Lastly, it is worth noting that on October 15th, 2024, PharmaMar and its partner Jazz Pharmaceuticals announced positive preliminary results from the Phase III IMforte trial, evaluating lurbinectedin in combination with atezolizumab (Tecentriq®), compared to atezolizumab monotherapy as a first-line maintenance treatment for adults with Small Cell Lung Cancer. The combination of lurbinectedin and atezolizumab demonstrated a statistically significant and clinically meaningful improvement in the primary objectives of overall survival (OS) and progression-free survival (PFS) compared to atezolizumab monotherapy. PharmaMar will submit a marketing authorization application (MAA) to the EMA in the first half of 2025 to seek approval in Europe.

The group's total revenue increased by 1% during the first half of 2024 to €80.8 million (compared to €80.2 million in the first half of 2023), driven mainly by income from Zepzelca®. Royalty income grew by 16% in the first half of the year, reaching €26.5 million (compared to €22.8 million in the first half of 2023). Revenue from the sale of API (Active Pharmaceutical Ingredient) for both Zepzelca and Yondelis® grew by 85% to €15.2 million during the first half. R&D investment amounted to €51.3 million, representing a 10% increase compared to the same period of the previous year. The Group recorded a net profit of €3.5 million during the first half of 2024. Debt decreased by 9% to €36.3 million compared to December 2023. The cash and equivalents position at the end of the first half stood at €139.6 million. PharmaMar Group (MSE: PHM) recorded a total revenue of €80.8 million, representing a 1% increase compared to the €80.2 million reported in the first half of 2023. Recurring revenue, which results from net sales plus royalties received from our partners, increased by 2% to €68.5 million, compared to €67.3 million for the same period of the previous year. Oncology sales totalled €42.0 million compared to €43.3 million in the previous year. This difference, which has been offset by the increase in royalties, is mainly due to Yondelis sales, which totalled €9.8 million up to June 30th 2024, compared to €14.2 million recorded in the same period of the previous year. Revenue from lurbinectedin in Europe under the early access amounted to €12.3 million in the first half of 2024, compared to €21.0 million recorded up to June 30th, 2023. As of June 2023, the income under this program (€21.0 million) reflected the positive effect of the accounting reversal made in the first half of 2023 due to the excess provision for deductions corresponding to the 2022 fiscal year. If we eliminate this effect, lurbinectedin revenue in Europe under the early access would have increased by approximately 16% in the first half of this year. Additionally, there have been commercial sales of Zepzelca in Europe amounting to €4.7 million. Revenue from the sale of API (raw materials) for both Zepzelca and Yondelis to our partners also increased significantly during the first half of this year. Thus, as of June 30th, sales of raw materials reached €15.2 million, representing an 85% growth compared to the same period of the previous year. This increase reflects our partners' preparation for commercial activity. As of June 30th, 2024, royalty income amounted to €26.5 million, representing a 16.2% increase compared to the same period of the previous year. This income includes royalties received from our partner Jazz Pharmaceuticals for Zepzelca sales in the U.S., which increased by 15% to €24.2 million. The royalties for the second quarter of 2024 are an estimate, as the information on sales made by Jazz is not available at the time of publication of this report. Any discrepancies will be corrected in the next quarter. In addition to the royalties received from Jazz Pharmaceuticals, there are royalties from Yondelis sales from our partners in the U.S. and Japan amounting to €2.3 million in the first half of 2024, compared to €1.8 million recorded in the same period of the previous year. Regarding non-recurring income from license agreements, at the end of the first half of 2024, it amounted to €12.3 million, of which €11.5 million correspond to the portion of deferred income from the 2019 agreement with Jazz Pharmaceuticals related to Zepzelca. R&D investment reached €51.3 million in the first half of 2024, representing a 10% increase compared to the previous year. Of the total R&D investment in these first six months of 2024, the amount allocated to the oncology segment increased by 20% to €46.7 million, compared to €39.0 million recorded in the first half of 2023. This increase is directly related to the progress of activities related to ongoing clinical trials, mainly the LAGOON trial (phase III clinical development for Small Cell Lung Cancer) and the SaLuDo trial (phase IIb/III clinical development for Leiomyosarcoma); both with lurbinectedin. Additionally, the Company continues to invest in the clinical development of other molecules at earlier stages. In this regard, there are two phase II clinical trials underway with ecubectedin in solid tumors, as well as phase I clinical trials with PM534 and PM54 for the treatment of solid tumors. In the first half of 2024, the net profit was €3.5 million. As of June 30th, 2024, the PharmaMar Group has cash and equivalents amounting to €139.6 million and has reduced total debt by 8.8% since December 2023, to €36.3 million. Thus, the net cash position stands at €103.3 million. PharmaMar management will host a conference call and webcast for investors and analysts on July 31st, 2024, at 13:00 CET (07:00 AM, New York time) as follows: The numbers to connect to the teleconference are 1 646 664 1960 (from USA or Canada), +34 91 901 16 44 (from Spain) and +44 20 3936 2999 (other countries). Participants' access code: 805724. Interested parties can also follow the conference call live via the following link: https://streamstudio.world-television.com/1052-1618-40219/en The recording of the teleconference will be available for thirty days and it can be accessed on PharmaMar's website by visiting the Events Calendar section of the Company's website www.pharmamar.com