Business
Harmony Biosciences Reports Second Quarter 2021 Financial Results and Business Updates
WAKIX® (pitolisant) Net Revenue of $73.8 Million for Second Quarter 2021 vs. $38 Million for the Same Period in 2020 Initiated Phase 2 Clinical Trial in
About this update from Harmony Biosciences Holdings, Inc.
[{"type":"text","content":"WAKIX® (pitolisant) Net Revenue of $73.8 Million for Second Quarter 2021 vs. $38 Million for the Same Period in 2020 Initiated Phase 2 Clinical Trial in Patients with Myotonic Dystrophy Acquired Potential First-in-Class Molecule with Novel Mechanism of Action Secured Additional Capital Through Strategic Financing Collaboration with Blackstone Conference Call and Webcast to be Held Today at 8:30 a.m. ET PLYMOUTH MEETING, Pa., Aug. 10, 2021 (GLOBE NEWSWIRE) -- Harmony Biosciences Holdings, Inc. (“Harmony” or the “Company”) (Nasdaq: HRMY), a pharmaceutical company dedicated to developing and commercializing innovative therapies for patients with rare neurological diseases, today reported financial results and business updates for the second quarter ended June 30, 2021. “Harmony has made significant progress towards growing the company through our three pillars growth strategy during the first half of 2021,” stated John Jacobs, President and Chief Executive Officer of Harmony. “Building on the momentum we saw in the first quarter of this year, we continue to advance the commercialization of WAKIX® with strong second quarter revenues due to both an increase in average number of patients on WAKIX and the number of healthcare professionals prescribing the product. With the initiation of our Phase 2 study in patients with Myotonic Dystrophy in the second quarter, we are continuing to advance our clinical development programs, with the goal of broadening the clinical utility of WAKIX beyond narcolepsy. Also, importantly, we took the first step in our plan to build a broad portfolio of products beyond WAKIX, via the acquisition of a potential first-in-class molecule with a novel mechanism of action. In addition, and to further support our expanding clinical programs and business development objectives, we recently consummated a strategic financing collaboration with Blackstone that provides us with additional capital to drive continued long-term growth for Harmony.” Second Quarter 2021 Financial Highlights: Net product revenue of $73.8 million for the quarter ended June 30, 2021, a 94.2% increase versus the prior year quarter revenue of $38.0 million;Strong organic growth in WAKIX sales, supported by an increased average number of patients on WAKIX and number of unique healthcare professionals who have prescribed WAKIX since launch;Positi...