Stock Track | Harmony Biosciences Plunges 5.43% in Pre-Market After Q1 Earnings Miss Estimates

Stock Track05-07

Harmony Biosciences Holdings, Inc. (NASDAQ: HRMY) experienced a pre-market plunge of 5.43% on Thursday, following the release of its first-quarter financial results.

The decline comes after the company reported Q1 earnings that fell short of analyst expectations on several key metrics. Product revenue of $215.4 million missed the consensus estimate of $225.2 million, while adjusted earnings per share of $0.55 significantly trailed the expected $0.69. Pretax profit of $39.7 million also came in well below the estimated $58.2 million. Net income fell 28.7% year-over-year to $32.5 million, driven by a more than doubling of research and development expenses and higher licensing costs.

Despite the quarterly miss, the rare disease drugmaker reaffirmed its full-year 2026 net revenue guidance of $1.0 billion to $1.04 billion for its narcolepsy drug WAKIX. The company also noted it remains on track for a New Drug Application submission for Pitolisant GR in the second quarter of 2026.

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