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Jun 30, 2021
Harmony Biosciences Q2 2021 Earnings Report
Harmony Biosciences reported strong Q2 2021 results, driven by WAKIX sales and strategic initiatives.
Key Takeaways
Harmony Biosciences reported a strong second quarter in 2021, marked by significant revenue growth from WAKIX, strategic progress in clinical development, and a new financing collaboration with Blackstone.
Net revenue for WAKIX reached $73.8 million, a 24% increase from Q1 2021.
The average number of patients on WAKIX increased by 15% to approximately 3,200.
Harmony Biosciences acquired HBS-102, a potential first-in-class molecule for narcolepsy.
The company entered into a strategic financing collaboration with Blackstone, providing up to $330 million in capital.
Revenue by Segment
Forward Guidance
Harmony Biosciences anticipates continued quarter-over-quarter revenue growth with normal seasonality, increased investment in R&D and SG&A, and a focus on expanding into additional indications and acquiring new assets.
Positive Outlook
- Continued quarter-over-quarter growth in revenue is expected.
- The company is focused on driving continued WAKIX growth.
- Expansion into additional indications that address rare neurological diseases is planned.
- The acquisition of HBS-102 is expected to contribute to future growth.
- The company aims to reinvest capital to fund ongoing development programs and acquire additional assets.
Challenges Ahead
- Normal seasonality during the summer period may impact revenue.
- Increased investment in R&D and SG&A is anticipated.
- The impact of COVID-19 resurgence on business operations is uncertain.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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