Stock Track | Harmony Biosciences Holdings Pre-Market Plunge Despite Robust Pipeline Updates

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Harmony Biosciences Holdings, Inc. (HRMY) experienced a pre-market plunge of 6.72% on October 30, 2024, despite providing positive updates on its financial performance and pipeline progress during its Q3 2024 earnings call.

The biopharmaceutical company reported strong revenue growth for its narcolepsy treatment WAKIX, with net sales reaching $186 million in Q3 2024, surpassing $2 billion in cumulative net revenue since launch. HRMY reiterated its 2024 net revenue guidance of $700 million to $720 million, reflecting its confidence in WAKIX's potential to achieve over $1 billion in sales in the adult narcolepsy market alone.

Harmony Biosciences Holdings highlighted its robust late-stage pipeline, with plans to launch one or more new products or indications each year over the next five years. The company provided updates on its pitolisant next-gen formulations, Pitolisant GR and HD, which aim to expand the patient base and address unmet needs in narcolepsy. Additionally, HRMY discussed its investigational products for rare epilepsies, EPX-100 and EPX-200, with ongoing Phase 3 trials for Dravet syndrome and Lennox-Gastaut syndrome.

Furthermore, the company shared promising preclinical data for its orexin-2 receptor agonist program, BP1.15205, indicating its potential as a best-in-class candidate. Near-term catalysts include the FDA's decision on the IH sNDA submission and topline data for ZYN-002 in Fragile X syndrome, expected in H1 2025.

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(HRMY) experienced a pre-market plunge of 6.72% on October 30, 2024, despite providing positive updates on its financial performance and pipeline progress during its...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"HRMY","symbol_name":"Harmony Biosciences Holdings, Inc.","start_time":0,"source_url":"","article_id":"1183845242","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1183845242","pubTimestamp":1730290595,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Harmony Biosciences Holdings, Inc.  experienced a pre-market plunge of 6.72% on October 30, 2024, despite providing positive updates on its financial performance and pipeline progress during its Q3 2024 earnings call.The biopharmaceutical company reported strong revenue growth for its narcolepsy treatment WAKIX, with net sales reaching $186 million in Q3 2024, surpassing $2 billion in cumulative net revenue since launch. 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