Harmony Biosciences Q2 revenue jumps 30% to $261M, net income nearly doubles; pipeline advances with Pitolisant GR NDA accepted
HRMY sits 44% above its 52-week low of $25.52.
Summary
Record Q2 2026 revenue of $261.3 million, a 30% increase, and net income of $75.4 million, nearly double the prior year, highlight the quarter. The Pitolisant GR NDA was accepted with an April 2027 PDUFA date, and the BP-205 IND is open, advancing the pipeline.
Key Events · Earnings and Guidance · HRMY
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Record Q2 Revenue and Earnings
Net product revenue reached $261.3 million in Q2 2026, up 30.3% year-over-year, driven by a 26.5% increase in units shipped and a 7% price increase. Net income nearly doubled to $75.4 million, or $1.28 per diluted share.
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Pitolisant GR NDA Accepted
The FDA accepted the NDA for Pitolisant GR with a target PDUFA date of April 1, 2027. This next-generation formulation could extend the pitolisant franchise into the 2040s.
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BP-205 IND Open, Phase 1b Imminent
The IND for BP-205, an orexin-2 receptor agonist, is now open. A Phase 1b study in sleep-deprived healthy volunteers will begin in Q3 2026, with topline data expected in early 2027.
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Strong Balance Sheet
Cash, cash equivalents, and investments totaled $962.5 million as of June 30, 2026, against $155 million in debt. The company has ample capital to fund operations and pipeline development.
Analysis · HRMY · Life Sciences
A standout quarter underscores the strength of the WAKIX franchise, with revenue climbing 30% year-over-year to $261.3 million and net income nearly doubling to $75.4 million. The balance sheet remains fortress-like at $962.5 million in cash and investments, providing ample runway for an expanding pipeline. Regulatory progress adds to the momentum: the FDA accepted the Pitolisant GR NDA with an April 2027 decision date, and the BP-205 IND is now open, with a Phase 1b study starting this quarter. These milestones, combined with strong commercial execution, reinforce the growth narrative. The only blemish is a new patent infringement lawsuit and antitrust counterclaims, but the core business momentum is undeniable.
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At the time of this filing, HRMY was trading at $36.75 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2.1B. The 52-week trading range was $25.52 to $40.87. This filing was assessed with positive market sentiment and an importance score of 8 out of 10.