Key Highlights

● Pharming's depositary shares traded around $10.66 at 10:29 AM ET on October 22.

● That is a morning snapshot rather than a confirmed closing price.

● Pharming reported preliminary third-quarter revenue, without specific figures in the reports.

● Pharming's products include Ruconest and Joenja for rare diseases.

Shares of Pharming Group (NASDAQ:PHAR) jumped on Thursday, October 22, 2026, after the Dutch biopharmaceutical company reported preliminary third-quarter revenue. The move put Pharming among the notable health care gainers on the Nasdaq Composite on a day when the index as a whole slumped.

Pharming's American depositary shares traded around $10.66 at 10:29 AM ET, a gain tied to the company reporting preliminary third-quarter revenues. That is a morning snapshot rather than a confirmed closing price.

An early look at the quarter

Companies sometimes publish preliminary revenue figures ahead of their full results, giving investors an early read on sales before the complete financial statements and commentary are released. Such updates tend to move a stock when the numbers differ meaningfully from what the market expects.

The report did not include the specific revenue figures Pharming released. The direction of the share price suggests investors liked what they saw, but the details of the quarter, including how individual products performed, will become clearer when the company releases its full results.

What Pharming does

Pharming focuses on treatments for rare diseases. Its products include Ruconest, used to treat acute attacks of hereditary angioedema, a rare genetic condition that causes episodes of severe swelling, and Joenja, a treatment for a rare immune disorder known as activated PI3K delta syndrome, or APDS.

Rare-disease drugs often serve small patient populations but can command high prices and loyal prescriber bases, which makes revenue trends a key focus for investors in companies like Pharming.

Its shares trade in the United States as American depositary shares, which represent ownership of the company's underlying stock listed in Europe.

Health care had a strong day

Pharming's rise came as health care stocks broadly gained. The S&P 500 health care sector hit a record high, even though Moderna (NASDAQ:MRNA) slid after late-stage melanoma vaccine data appeared before its scheduled presentation. Johnson & Johnson (NYSE:JNJ) and Amgen (NASDAQ:AMGN) were among the large-cap gainers.

Among smaller biotech names, Biohaven (NYSE:BHVN) jumped after the FDA accepted its resubmitted application for a drug in spinocerebellar ataxia, MoonLake Immunotherapeutics (NASDAQ:MLTX) rose after a rival's skin-disease data underwhelmed, and Korro Bio (NASDAQ:KRRO) climbed on preclinical data. Nanobiotix (NASDAQ:NBTX), another European company with US-listed shares, also rose, although no catalyst was cited.

Tech dragged the index

The Nasdaq Composite's decline came from technology. Heavy AI spending and negative free cash flow at Meta Platforms (NASDAQ:META), together with cautious guidance from Lam Research (NASDAQ:LRCX), triggered a rout in chip and AI shares. The index fell 694.00 points to 26,008.86, its steepest drop since June 5, and lost about $1 trillion in market value, according to market data.

Investors rotated instead into defensive sectors. About two of every three S&P 500 stocks rose, according to market reports, with consumer staples posting their best day since April 2025. Treasuries rallied, sending the 10-year yield back below a closely watched threshold for the first time since September 22.

Pharming's Full Report Will Supply the Numbers

The next milestone is Pharming's full third-quarter report, which should provide final revenue figures, a breakdown by product and any update to the company's outlook. Investors will look for whether the preliminary numbers hold up and how management describes demand trends. Whether the gain sticks may also depend on health care's strong run continuing as investors look ahead to the Federal Reserve's decision on October 28.