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Investing.com -- Harmony Biosciences Holdings Inc. (NASDAQ:HRMY) shares fell 3.9% after the biopharmaceutical company reported second-quarter revenue that missed analyst expectations, despite posting better-than-expected earnings.
The company reported second-quarter revenue of $200.5 million, falling short of the $204.59 million consensus estimate, though it represented a 16% increase YoY from $172.8 million in the same period last year. Adjusted earnings per share came in at $0.92, exceeding analyst estimates of $0.72 by $0.20. The revenue growth was driven by the addition of 400 new patients for its narcolepsy treatment WAKIX, bringing the average patient count to 7,600 for the quarter.
"Based on the strength of our commercial business, our continued profitability and commitment to patients, Harmony (JO:HARJ) is building a commercially durable business with a robust pipeline and clear path to delivering long-term value," said Jeffrey M. Dayno, M.D., President and CEO of Harmony Biosciences.
The company reaffirmed its full-year 2025 revenue guidance of $820-860 million, which aligns with the analyst consensus of $843.6 million. Harmony also announced plans to release topline data from its Phase 3 registrational trial of ZYN002 in Fragile X syndrome in the third quarter of 2025.
Harmony ended the quarter with a strengthened financial position, reporting $672.3 million in cash, cash equivalents and investments as of June 30, 2025, up from $576.1 million at the end of 2024. The company highlighted its unique profile as a profitable, self-funding biotech company with a late-stage pipeline.
The company continues to advance multiple pipeline candidates, including pitolisant high-dose and gastro-resistant formulations, with Phase 3 trials set to begin in the fourth quarter of 2025 for both narcolepsy and idiopathic hypersomnia indications.
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