CFO Resigns Abruptly, Shares Drop 4.5% Despite Record WAKIX Revenue
HRMY sits 34% above its 52-week low of $25.52.
Summary
CFO Glenn Reicin resigned effective July 16, with Stephen Mollichella stepping in as interim CFO. The departure triggered a 4.5% share price decline to $33.35, overshadowing the preannounced record Q2 WAKIX revenue of ~$261M (+30% YoY) and reaffirmed 2026 guidance of $1.00–1.04B. This follows a pattern of insider selling by the former CFO, who filed multiple Form 144s in June to sell over $3M in stock. The abrupt exit raises governance concerns ahead of the August 4 full earnings release.
At the time of this announcement, HRMY was trading at $34.10 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $2B. The 52-week trading range was $25.52 to $40.87. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: Wiseek News.