Harmony Biosciences Holdings, Inc. · NASDAQ:HRMY
Harmony Biosciences — Q3 2023 Earnings Presentation
13 slides from Harmony Biosciences's earnings presentation, Oct 31, 2023
Slide 1: Q3 2023 Financial and Business Update
Q3 2023 Financial and Business Update October 31, 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: Strongest Revenue Quarter in Harmony's History; Advancement and Expansion of the Pipeline
Strongest Revenue Quarter in Harmony's History; Advancement and Expansion of the Pipeline Continued Strong ▪ Q3 23: WAKIX Net Revenue of $160.3M +37% Year-over-Year Growth Growth For WAKIX® ▪ Q3 23: ~5,800 average number of patients on WAKIX in Adult Narcolepsy ▪ Continued strong growth in average n
Slide 4: WAKIX Net Revenue Performance
WAKIX® Net Revenue Performance CONFIDENT IN WAKIX BECOMING A $1B+ OPPORTUNITY IN ADULT NARCOLEPSY ALONE WITH THE POTENTIAL TO CONTRIBUTE UP TO AN ADDITIONAL $1B, IF APPROVED IN OTHER CURRENT PITOLISANT LIFECYCLE MANAGEMENT PROGRAMS WAKIX QUARTERLY NET REVENUE ($M) Q3 23 HIGHLIGHTS 37% $160.3 ▪ Q3 23
Slide 5: Continued Strong Growth In Average Number of Patients on WAKIX
Continued Strong Growth In Average Number of Patients on WAKIX® ~Approximate Patient Counts ~5,800 6,000 Q3 23 HIGHLIGHTS +350 +350 ▪ Average Number of Patients on WAKIX increased ~Average # of Patients on WAKIX 5,000 +200 +300 to ~5,800 +300 4,000 +400 ▪ +350 from reported in Q2 23 +100 +300 +300 ▪
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 Full Dataset (IH) Review Ongoing Prader
Slide 8: Extending the Pitolisant Franchise
Extending the Pitolisant Franchise Anticipate Data in First Half of 2024 Formulation 1 Formulation 2 ▪ Opportunity: Extend franchise beyond 2040, with ▪ Opportunity: Fast to market strategy for narcolepsy potential for new IP and opportunity to explore within WAKIX lifecycle additional indications ▪
Slide 9: Financial Highlights
Financial Highlights (In millions, USD) Net Product Non-GAAP Adjusted Revenues Net Income(1) 37% 1% $160.3 $117.2 $58.1 $58.8 Q3 2022 Q3 2023 Q3 2022 Q3 2023 Cash, Cash Equivalents & Investment Securities $429.6 $438.4 $392.4 $316.0 $345.7 Sep 30 '22 Dec 31 '22 Mar 31 '23 Jun 30 '23 Sep 30 '23 (1) N
Slide 10: Financial Summary
Financial Summary (In millions, USD) Three Months Ended September 30, % Change Totals may not foot due to rounding 2023 2022 Net Product Revenues $160.3 $117.2 37% Cost of Product Sold 32.3 23.0 41% Total Operating Expenses $63.5 $82.3 (23%) R&D Expense 17.5 40.5 (57%) S&M Expense 23.4 20.5 14% G&A
Slide 11: GAAP vs NON-GAAP Reconciliation
GAAP vs NON-GAAP Reconciliation (In millions, USD) Three Months Ended September 30, Totals may not foot due to rounding 2023 2022 GAAP net income $38.5 $87.9 Non-cash interest expense(1) 2.2 0.4 Depreciation 0.1 0.1 Amortization(2) 6.0 6.0 Stock-based compensation expense 7.9 7.0 Licensing fee(3) -
Slide 12: Executing on Our Growth Strategy
Executing on Our Growth Strategy $1B+ Commercial Up to $1B Opportunity in Opportunity for WAKIX® Pitolisant LCM Programs in Adult Narcolepsy (IH, PWS, DM1) Expanding and Strong Financial Diversifying the Pipeline; Position ($438M) to Advancing Maximize Shareholder New Pitolisant Assets Value 12
Slide 13: Thank You
H3 HARMONY BIOSCIENCES Thank You
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