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Mar 31, 2024
Harmony Biosciences Q1 2024 Earnings Report
Harmony Biosciences reported strong first-quarter financial results, accelerated its growth strategy, advanced its pitolisant franchise, strengthened its sleep/wake leadership, and diversified into rare epilepsy.
Key Takeaways
Harmony Biosciences reported a 30% year-over-year net revenue growth for the first quarter of 2024, driven by strong commercial sales of WAKIX. The company is also advancing its pipeline and diversifying its portfolio through strategic business development, including the acquisition of Epygenix Therapeutics, Inc.
WAKIX net revenue reached $154.6 million in Q1 2024, a 30% increase year-over-year.
The average number of patients on WAKIX increased by approximately 150 patients sequentially to approximately 6,300 for the quarter ended March 31, 2024.
A supplemental New Drug Application for pitolisant in Idiopathic Hypersomnia is planned for the second half of 2024.
Harmony acquired Epygenix Therapeutics, Inc., establishing a potential billion-dollar-plus rare epilepsy franchise.
Revenue by Segment
Forward Guidance
Harmony Biosciences expects full year 2024 net product revenue of $700 million to $720 million.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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