NASDAQ$HRMY
Harmony Biosciences Holdings Inc · Q2 2022 earnings
Q2 2022 earnings · · Investor relations
Briefing
Harmony Biosciences reported strong growth in WAKIX net revenue and average number of patients on WAKIX.
Harmony Biosciences reported net product revenues of $107.0 million for the quarter ended June 30, 2022, a 45% increase compared to the same period in 2021. GAAP net income was $23.5 million, or $0.39 per diluted share, while non-GAAP adjusted net income was $34.7 million, or $0.57 per diluted share. The company also signed a new agreement with Bioprojet to develop innovative therapeutics based on pitolisant.
- WAKIX net revenue of $107.0 million for Q2 2022, a 45% increase vs. the same period in 2021
- Average number of patients on WAKIX increased to approximately 4,300
- Signed new agreement with Bioprojet to develop innovative therapeutics based on pitolisant
- Phase 3 Idiopathic Hypersomnia (IH) INTUNE Study is on track with site activations and patient enrollment
Headline financials
Revenue & EPS history
Harmony Biosciences · Revenue · Quarterly
$107M
Revenue by segment
Harmony Biosciences · $107M total across 1 segment · Q2 2022
- WAKIX Net Product Revenue$107M+45.0%100.0%
Forward guidance
Harmony Biosciences is focused on developing and delivering treatments for rare neurological diseases and is committed to innovation and collaboration.
Tailwinds
- Phase 3 registrational trial in adult patients with IH (INTUNE Study) off to a good start and on track with site activations and patient enrollment.
- Completed enrollment in the PWS Phase 2 proof-of concept study. On track for top line data from this trial in the fourth quarter of 2022.
- Enrollment continues in the Myotonic Dystrophy (DM1) study. Anticipate top line data from this Phase 2 proof-of concept trial in 2023.
- Harmony extended the $100 million delayed draw loan facility with Blackstone, which now makes those funds available into August of 2023.
- New agreement with Bioprojet focused on developing innovative therapeutics based on pitolisant, expanding Harmony’s opportunity in narcolepsy, and potentially other indications mutually agreed to by the parties.
Headwinds
- Failure to satisfy the closing conditions under our new agreement with Bioprojet, including obtaining clearance under the HSR Act.
- Our failure to achieve the potential benefits under our new agreement with Bioprojet.
- Volatility and fluctuations in the price of our common stock.
- The significant costs and required management time as a result of operating as a public company.
- The fact that the price of Harmony’s common stock may be volatile and fluctuate substantially.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 20 quarterly earnings reports · overlaid with Q2 2022
+1.3%
Avg return
Earnings day
+3.0%
Avg return
5 days after
+6.0%
Avg return
30 days after
54%
14 / 26 earnings
Positive
+24.4%
Q3 2023
Best reaction
-15.1%
Q1 2022
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -4.1% | -8.0% | -1.8% | |
| Q4 2025 | +2.6% | +6.2% | +2.1% | |
| Q3 2025 | -1.6% | -5.1% | +18.1% | |
| Q1 2025 | +7.0% | +13.7% | +16.9% | |
| Q4 2024 | +8.2% | -1.0% | -2.4% | |
| Q3 2024 | -5.5% | -7.5% | +0.0% | |
| Q2 2024 | +8.5% | +9.4% | +15.0% | |
| Q1 2024 | +3.5% | +7.9% | -1.3% | |
| Q4 2023 | -1.5% | +1.5% | +0.9% | |
| Q3 2023 | +24.4% | +31.5% | +47.4% | |
| Q2 2023 | -7.9% | -5.0% | +2.5% | |
| Q1 2023 | +9.9% | +9.5% | +5.0% | |
| Q4 2022 | -6.1% | -8.0% | -15.2% | |
| Q3 2022 | +12.5% | +13.2% | +15.4% | |
| Q2 2022 | +6.3% | +6.6% | -7.8% | |
| Q1 2022 | -15.1% | -21.9% | -5.0% | |
| Q4 2021 | +5.6% | +6.1% | +31.5% | |
| Q3 2021 | +0.1% | -0.1% | -9.3% | |
| Q2 2021 | +13.9% | +20.1% | +41.4% | |
| Q1 2021 | +1.2% | +4.0% | +21.8% | |
| Q1 2020 | +1.2% | +4.0% | +21.8% | |
| Q2 2020 | -4.1% | +11.4% | -2.1% | |
| Q4 2020 | -4.1% | +11.4% | -2.1% | |
| Q3 2020 | -6.8% | -7.4% | -12.0% | |
| Q4 2019 | -6.8% | -7.4% | -12.0% | |
| Q3 2019 | -6.8% | -7.4% | -12.0% | |
| Q2 2019 | — | — | — | |
| Q1 2019 | — | — | — |
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