Bullish indicating open at $55-$60, IPO prices at $37
PLYMOUTH MEETING, Pa. - Harmony Biosciences Holdings , Inc. (NASDAQ:HRMY) reported first quarter 2025 earnings that handily beat analyst expectations, driven by strong sales growth of its narcolepsy drug WAKIX on Tuesday.
The company saw its stock surge 5.11% in premarket trading following the release.
The biopharmaceutical company reported adjusted earnings per share of $1.03, significantly surpassing the analyst consensus estimate of $0.61. Revenue for the quarter came in at $184.7 million, slightly above the $184.26 million analysts were expecting and representing 20% YoY growth.
"Building off of our strong foundation of commercial success, we are poised for significant momentum throughout the rest of the year, driven by the upcoming catalysts from our robust, late-stage pipeline," said Jeffrey M. Dayno, M.D., President and Chief Executive Officer of Harmony (JO:HARJ) Biosciences.
WAKIX net revenue grew 20% YoY to $184.7 million in Q1. The company exited the quarter with approximately 7,300 patients on the drug, up from about 7,200 in the previous quarter.
Harmony reiterated its full year 2025 revenue guidance of $820-$860 million, in line with the analyst consensus of $840.4 million.
The company highlighted several upcoming pipeline milestones, including topline data from its Phase 3 trial of ZYN002 in Fragile X syndrome expected in Q3 2025. Harmony also plans to initiate Phase 3 trials for its next-generation pitolisant formulation in narcolepsy and idiopathic hypersomnia in Q4 2025.
With $610.2 million in cash and investments on its balance sheet, Harmony appears well-positioned to fund its ongoing clinical development programs while continuing to drive WAKIX sales growth.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.