Harmony Biosciences (NASDAQ:HRMY) reported second-quarter net revenue of $261.3 million, up 30% from the prior-year period and 21% sequentially, as sales of its narcolepsy treatment WAKIX rebounded from seasonal market-access pressures earlier in the year.
The company reiterated its 2026 net revenue guidance of $1 billion to $1.04 billion
Net income for the quarter rose to $75.4 million, or $1.28 per diluted share, from $39.8 million, or $0.68 per diluted share, a year earlier. Management also disclosed early clinical data for BP-205, an orexin-2 receptor agonist in development for sleep-wake and potentially broader central nervous system indications. The company plans to report multiple-ascending-dose data for the candidate in the fourth quarter and expects top-line data from a sleep-deprived healthy-volunteer study in early 2027.
WAKIX Growth and Commercial Initiatives Chief Executive Officer Jeffrey Dayno said WAKIX generated record quarterly net revenue and remained on track to surpass $1 billion in annual revenue. He said the second-quarter performance marked a rebound from elevated insurance-plan changes, plan switching and premium increases that delayed some patient starts during the first quarter. Chief Commercial Officer Adam Zaeske said WAKIX reached an estimated average of 8,950 patients during the quarter, an increase of about 450 patients from the first quarter.