Overview

* Harmony Biosciences ( HRMY ) Q3 product revenue grows 29% yr/yr, beating analyst expectations

* Company raises 2025 revenue guidance to $845-$865 mln

* Strong cash generation with $778 mln on balance sheet at Q3 end

Outlook

* Harmony raises 2025 revenue guidance to $845-$865 mln

* Company to start Phase 3 trials for Pitolisant HD in Q4 2025

* First-in-human study for Orexin-2 agonist to commence in Q4 2025

Result Drivers

* WAKIX FRANCHISE - 29% YoY revenue growth driven by record increase in average number of patients, reaching approximately 8,100

* LATE-STAGE PIPELINE - IND for Pitolisant HD submitted; Phase 3 trials in narcolepsy and IH to start in Q4 2025

* STRONG CASH POSITION - $778M in cash and investments at Q3 end, supporting strategic growth initiatives

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q3 Beat $239.45 $220.50

Product mln mln (11

Revenue Analysts

)

Q3 Net $50.86

Income mln

Q3 Beat $67.49 $57.40

Pretax mln mln (9

Profit Analysts

)

Q3 Gross $179.80

Profit mln

Q3 $65.48

Operatin mln

g Income

Analyst Coverage

* The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 9 "strong buy" or "buy", 1 "hold" and 1 "sell" or "strong sell"

* The average consensus recommendation for the pharmaceuticals peer group is "buy"

* Wall Street's median 12-month price target for Harmony Biosciences Holdings Inc ( HRMY ) is $43.00, about 31.8% above its November 3 closing price of $29.33

* The stock recently traded at 8 times the next 12-month earnings vs. a P/E of 9 three months ago

Press Release:

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)