Harmony Biosciences Holdings, Inc. Announces Unaudited Consolidated Earnings Results for the Second Quarter and Six Months Ended June 30, 2021
August 10, 2021 at 05:30 pm IST
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Harmony Biosciences Holdings, Inc. announced unaudited consolidated earnings results for the second quarter and six months ended June 30, 2021. For the quarter, the company reported net product revenues of $73,821,000 compared to $38,005,000 a year ago. Operating income was $23,312,000 compared to $7,309,000 a year ago. Net income and comprehensive income was $14,117,000 or $0.25 per basic share compared to loss of $27,000 or $1.34 per basic share a year ago. Diluted earnings per share was $0.24 compared to loss of $1.34 a year ago.
For the six months, the company reported net product revenues of $133,495,000 compared to $57,845,000 a year ago. Operating income was $37,844,000 compared to loss of $1,154,000 a year ago. Net income and comprehensive income was $21,503,000 or $0.38 per basic share compared to loss of $38,647,000 or $7.63 per basic share a year ago. Diluted earnings per share was $0.37 compared to loss of $7.63 a year ago.
Harmony Biosciences Holdings, Inc. is a commercial-stage pharmaceutical company. The Company is focused on developing and commercializing therapies for patients living with rare neurological diseases as well as patients living with other neurological diseases who have unmet medical needs. Its product, WAKIX (pitolisant), is a first-in-class molecule with a novel mechanism of action (MOA) designed to enhance histamine signaling in the brain by binding to H3 receptors. Its WAKIX is developed for the treatment of excessive daytime sleepiness (EDS) in adult patients with narcolepsy and treatment of cataplexy in adult patients with narcolepsy. Its narcolepsy treatment works primarily through histamine, a wake-promoting neurotransmitter. It also provides HBS-102, an investigational compound, which is a melanin-concentrating hormone (MCH) receptor 1 (MCHR1) antagonist that targets MCH neurons in the brain. It also develops ZYN002, a pharmaceutically manufactured synthetic cannabidiol.