Harmony Biosciences Holdings, Inc. ( (HRMY) ) has released its Q4 earnings. Here is a breakdown of the information Harmony Biosciences Holdings, Inc. presented to its investors.
Harmony Biosciences Holdings, Inc., a pharmaceutical company focused on developing therapies for rare neurological diseases, has reported strong financial results for 2024, driven by its flagship product WAKIX®. The company, which operates in the biopharmaceutical sector, is known for its innovative treatments addressing unmet medical needs in sleep/wake disorders and other neurological conditions.
In its latest earnings report, Harmony Biosciences announced a net revenue of $201.3 million for the fourth quarter and $714.7 million for the full year 2024, marking a 23% growth from the previous year. The company has projected its 2025 net revenue to be between $820 million and $860 million, with a potential to exceed $1 billion in the narcolepsy market alone.
Key financial highlights include a GAAP net income of $145.5 million for 2024, up from $128.9 million in 2023, and a non-GAAP adjusted net income of $233.9 million. The company has also strengthened its intellectual property portfolio with a favorable settlement in its first generic litigation and is on track to obtain pediatric exclusivity for WAKIX. Harmony is advancing its pipeline with significant milestones expected in 2025, including Phase 3 trials for Pitolisant HD and ZYN002.
Looking ahead, Harmony Biosciences is poised for a transformative year in 2025, with strategic initiatives aimed at expanding its product offerings and solidifying its leadership in the central nervous system (CNS) space. The company remains committed to delivering innovative treatments and achieving long-term growth, with a robust pipeline that could potentially generate over $3 billion in net revenue in the coming years.