Harmony Biosciences Holdings, Inc. · NASDAQ:HRMY
Harmony Biosciences — Q2 2023 Earnings Presentation
13 slides from Harmony Biosciences's earnings presentation, Aug 1, 2023
Slide 1: Q2 2023 Financial and Business Update
Q2 2023 Financial and Business Update August 1, 2023
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation includes forward‐looking statements within the meaning of the Private Securities Reform Act of 1995. All statements other than statements of historical facts contained in these materials or elsewhere, including statements regarding Harmony Biosciences Hol
Slide 3: Harmony Continues To Be A Growth Story
Harmony Continues To Be A Growth Story ▪ Q2 23 WAKIX Net Revenue of $134.2M +25% Year-over-Year Growth Continued Growth ▪ Highest top line prescription demand since our first full quarter of launch in Q1 20 For WAKIX® in Adult Narcolepsy ▪ Strongest quarter of new patient starts in our history ▪ Q2
Slide 4: WAKIX Net Revenue Performance
WAKIX® Net Revenue Performance CONFIDENT IN WAKIX BECOMING A $1B+ OPPORTUNITY IN ADULT NARCOLEPSY, WITH THE POTENTIAL TO CONTRIBUTE UP TO AN ADDITIONAL $1B, IF APPROVED IN IDIOPATHIC HYPERSOMNIA AND OTHER CURRENT LIFECYCLE MANAGEMENT PROGRAMS WAKIX QUARTERLY NET REVENUE ($M) Q2 23 HIGHLIGHTS 25% ▪ Q
Slide 5: Strong Continued Growth In Average Number of Patients on WAKIX
Strong Continued Growth In Average Number of Patients on WAKIX® ~Approximate Patient Counts 6,000 ~5,450 Q2 23 HIGHLIGHTS +350 ▪ Average Number of Patients on WAKIX increased 5,000 +200 +300 to ~5,450 ~Average # of Patients on WAKIX +300 4,000 +400 ▪ +350 from Q1 23 +100 +300 +300 ▪ Highest top line
Slide 6: Prescriber Dynamics Support Continued WAKIX Growth in Adult Narcolepsy
Prescriber Dynamics Support Continued WAKIX® Growth in Adult Narcolepsy Depth of prescribing ~4,000 HCPs enrolled in oxybate REMS in oxybate REMS enrolled HCPs WAKIX Breadth of prescribing ~5,000 HCPs not enrolled in oxybates REMS growth in HCPs not enrolled in oxybate REMS ~9,000 Narcolepsy 100% of
Slide 7: Development Pipeline
Development Pipeline Regulatory Marketed Product / Indication Pre-IND Phase 1 Phase 2 Phase 3 Filing Milestone Product WAKIX® EDS in Narcolepsy (Adults) Cataplexy in Narcolepsy (Adults) Pitolisant Submit sNDA Pediatric Narcolepsy1 4Q2023 Idiopathic Hypersomnia Topline data (IH) 4Q2023 Prader-Willi S
Slide 8: Advancing Our Pipeline: Catalyst Rich Second Half of 2023
Advancing Our Pipeline: Catalyst Rich Second Half of 2023 MULTIPLE VALUE CREATING CATALYSTS Event Timing Phase 3 Topline Data in IH (INTUNE Study) Q4 23 Submit Pediatric Narcolepsy sNDA Q4 23 Initiate Phase 3 Study in PWS Q4 23 Phase 2 POC Topline Data in DM1 Q4 23 New Pitolisant Assets Update 2H 23
Slide 9: Financial Highlights
Financial Highlights (In millions, USD) Net Product Non-GAAP Adjusted Revenues Net Income(1) 25% 32% $134.2 $107.0 $45.9 $34.7 Q2 2022 Q2 2023 Q2 2022 Q2 2023 Cash, Cash Equivalents & Investment Securities $429.6 $392.4 $316.0 $345.7 $258.9 Jun 30 '22 Sep 30 '22 Dec 31 '22 Mar 31 '23 Jun 30 '23 (1)
Slide 10: Financial Summary
Financial Summary (In millions, USD) Three Months Ended June 30, % Change Totals may not foot due to rounding 2023 2022 Net Product Revenues $134.2 $107.0 25% Cost of Product Sold 25.0 18.9 32% Total Operating Expenses $62.3 $55.0 13% R&D Expense 15.0 12.7 18% S&M Expense 24.5 20.2 22% G&A Expense 2
Slide 11: GAAP vs NON-GAAP Reconciliation
GAAP vs NON-GAAP Reconciliation (In millions, USD) Three Months Ended June 30, Totals may not foot due to rounding 2023 2022 GAAP net income $34.3 $23.5 Non-cash interest expense(1) 0.4 0.4 Depreciation 0.1 0.1 Amortization(2) 6.0 6.0 Stock-based compensation expense 7.8 7.4 Income tax effect relate
Slide 12: Harmony Continues To Be A Growth Story
Harmony Continues To Be A Growth Story $1B+ Commercial Up to $1B Opportunity in Opportunity for WAKIX® Pitolisant LCM Programs in Adult Narcolepsy (IH, PWS, DM1) Significant Progress Strong Financial Across Pitolisant LCM, Position ($430M) to New Pitolisant Assets, Maximize Catalyst Rich 2H 23 Share
Slide 13: Thank You
H3 HARMONY BIOSCIENCES Thank You
Harmony Biosciences Holdings — Q2 2023 Earnings Presentation on 6ix