NASDAQ$HRMY
Harmony Biosciences Holdings Inc · Q2 2023 earnings
Q2 2023 earnings · · Investor relations
Briefing
Reported financial results with WAKIX net revenue increasing by approximately 25% year-over-year.
Harmony Biosciences reported strong second-quarter results, driven by increased demand for WAKIX. Net product revenues reached $134.2 million, a 25% increase compared to the same period in 2022. The company is also making progress in its life cycle management programs, with several catalysts expected in the remainder of the year.
- Net product revenues increased by approximately 25% year-over-year to $134.2 million.
- The average number of patients on WAKIX increased by approximately 350 sequentially to approximately 5,450.
- Completed enrollment in Phase 3 Idiopathic Hypersomnia (IH) INTUNE Study and on-track for topline data in the fourth quarter of 2023.
- Board of Directors authorized a $125 million share repurchase program.
Headline financials
Revenue & EPS history
Harmony Biosciences · Revenue · Quarterly
$134M
Revenue by segment
Harmony Biosciences · $134M total across 1 segment · Q2 2023
- WAKIX Net Product Revenue$134M+25.4%100.0%
Forward guidance
Harmony Biosciences is focused on its life cycle management programs and expects a catalyst-rich remainder of the year.
Tailwinds
- Completed enrollment of Phase 3 registrational trial (INTUNE Study) in adult patients with IH, nine months ahead of plan.
- On-track for topline data from the Myotonic Dystrophy (“DM1”) Phase 2 proof-of-concept signal detection trial in the fourth quarter of 2023.
- Working with Bioprojet on the submission to FDA of a supplemental new drug application (“sNDA”) for pediatric narcolepsy. Expect to submit the sNDA in the fourth quarter of 2023.
- Actively pursuing pediatric exclusivity for WAKIX and have made progress with FDA in aligning on the requirements.
- Entered into a new $185 million term loan facility, further strengthening the balance sheet and reducing annual interest expense by approximately $6 million.
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 2023
+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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