NASDAQ$HRMY
Harmony Biosciences Holdings Inc · Q3 2023 earnings
Q3 2023 earnings · · Investor relations
Briefing
Harmony Biosciences demonstrated strong financial performance in Q3 2023, marked by revenue growth and strategic pipeline expansion.
Harmony Biosciences reported a strong Q3 2023, with net product revenues reaching $160.3 million, a 37% increase compared to the same period in 2022. The company also expanded its pipeline through the acquisition of Zynerba Pharmaceuticals and initiated a new $200 million share repurchase program.
- Net product revenues for Q3 2023 reached $160.3 million, up 37% year-over-year.
- Average number of patients on WAKIX increased by approximately 350 sequentially to approximately 5,800.
- GAAP net income for Q3 2023 was $38.5 million, or $0.63 earnings per diluted share.
- Expanded pipeline with acquisition of Zynerba Pharmaceuticals; Zygel in Pivotal Phase 3 Trial for Fragile X syndrome
Headline financials
Revenue & EPS history
Harmony Biosciences · Revenue · Quarterly
$160M
Revenue by segment
Harmony Biosciences · $160M total across 1 segment · Q3 2023
- WAKIX Net Product Revenue$160M+36.8%100.0%
Forward guidance
Harmony Biosciences is focused on advancing its pipeline and expanding its market presence. They are on track for several key milestones, and actively pursuing new indications for pitolisant.
Tailwinds
- Remain Committed and Continue to Pursue Idiopathic Hypersomnia Indication
- Expect to initiate the TEMPO study in the first quarter of 2024.
- On track for topline data from the Myotonic Dystrophy (DM1) Phase 2 proof-of-concept signal detection trial in the fourth quarter of 2023.
- On track to submit a supplemental new drug application (sNDA) for a pediatric narcolepsy indication to the FDA in the fourth quarter of 2023.
- Advancing new pitolisant based formulations into the clinic in the fourth quarter of 2023.
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 Q3 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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