Harmony Biosciences Holdings, Inc. HRMY

Healthcare SIC 2834 - Pharmaceutical Preparations Nasdaq

We are cultivating a differentiated neuroscience company, rooted in innovation and driven by a commitment to addressing the unmet needs of patients living with neurological diseases. To date, we have focused on rare neurological diseases with a growing portfolio now spanning sleep/wake, rare epilepsy, and neurobehavioral and we are harnessing scientific insights and pioneering approaches to advance meaningful treatments that help patients thrive.

In July 2017, we entered into a License Agreement (as amended, the "2017 LCA") with Bioprojet Société Civile de Recherche ("Bioprojet") whereby we acquired the exclusive right to commercialize the pharmaceutical compound pitolisant. Our lead product, WAKIX® (pitolisant) ("WAKIX"), is a first-in-class therapy with a novel mechanism of action designed to enhance histamine signaling in the brain by binding to H3 receptors. Since its initial FDA approval in 2019 for excessive daytime sleepiness ("EDS") in adult patients with narcolepsy and subsequent approvals for cataplexy in adult patients in 2020, EDS in pediatric patients six years and older in 2024 and cataplexy in pediatric patients six years and older in 2026, WAKIX has continued to reshape the treatment landscape for narcolepsy and remains the only FDA-approved treatment for narcolepsy that is not scheduled as a controlled substance by the U.S. Drug Enforcement Administration ("DEA").

Last close 42.25 2026-09-04
Market cap $2.46B 2026-06-30 share count
52-week range 25.52 - 43.49

Valuation FY2025 figures against the last close

P/S2.8x
P/E15.6x
P/FCF7.1x
EV/EBITDA8.9x
Dividend yield
Diluted EPS2.71

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Revenue $868.5M$714.7M$582.0M$437.9M$305.4M$159.7M$6.0M
Cost of revenue $198.3M$156.8M$121.2M$83.5M$55.5M$27.7M$1.6M
Gross profit $670.1M$557.9M$460.8M$354.4M$249.9M$132.0M$4.4M
R&D $189.6M$145.8M$76.1M$70.9M$30.4M$19.4M$69.6M
SG&A $152.5M$110.4M$95.3M$84.0M$63.9M$39.7M$36.4M
Total operating expenses $461.6M$367.1M$268.8M$234.2M$162.4M$115.0M$150.3M
Operating income $208.5M$190.8M$192.0M$120.2M$87.5M$17.0M-$145.9M
Interest expense $14.6M$17.5M$23.8M$18.8M$24.2M
Pre-tax income $215.1M$191.8M$173.4M$104.7M$37.4M-$36.9M-$152.0M
Income tax $56.4M$46.3M$44.5M$76.8M$2.8M
Net income $158.7M$145.5M$128.9M$181.5M$34.6M-$36.9M-$152.0M
EPS, basic 2.762.562.173.070.60-2.48-24.07
EPS, diluted 2.712.512.132.970.58-2.48-24.07
Shares, diluted (wtd. avg.) $58.5M$57.9M$60.4M$61.1M$59.2M$25.8M$7.8M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Cash and equivalents $752.5M$453.0M$311.9M$244.5M$235.1M$229.4M$25.2M$84.0M
Short-term investments $22.8M$14.2M$41.8M$79.3M
Receivables $96.8M$83.0M$74.1M$54.7M$34.8M$22.2M$4.3M
Inventory $5.4M$7.2M$5.4M$4.3M$4.4M$3.8M$1.1M
Total current assets $907.0M$579.3M$451.1M$400.3M$284.4M$262.9M$31.5M
Property, plant and equipment $1.3M$371.0K$573.0K$820.0K$938.0K$1.3M
Other intangibles $89.4M$113.3M$137.1M$161.0M$143.9M$162.3M$72.2M
Total assets $1.27B$999.2M$811.4M$673.9M$433.4M$427.1M$106.7M
Accounts payable $17.7M$13.7M$17.7M$3.8M$1.0M$2.6M$6.4M
Short-term debt $20.0M$16.2M$15.0M$2.0M$2.0M
Total current liabilities $252.1M$175.1M$163.8M$78.9M$53.8M$134.5M$19.9M
Long-term debt $143.7M$163.0M$178.6M$189.6M$190.0M$194.2M$97.9M
Total liabilities $401.4M$340.0M$344.5M$271.0M$246.9M$329.9M$118.3M
Retained earnings $160.9M$2.2M-$143.3M-$272.1M-$453.6M-$488.2M-$422.9M
Total equity $870.2M$659.2M$467.0M$402.8M$186.5M$97.2M-$422.9M-$242.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018
Operating cash flow $348.2M$219.8M$219.4M$144.5M$98.6M-$3.0M-$75.4M
Depreciation and amortisation $267.0K$514.0K$419.0K$416.0K$394.0K$395.0K
Stock-based compensation $44.9M$42.6M$31.7M$26.2M$15.7M$4.7M$9.9M
Capital expenditure $310.0K$1.2M$312.0K$172.0K$298.0K$2.0K$149.0K
Investing cash flow -$39.6M-$67.5M-$46.4M-$141.8M-$100.3M-$2.0M-$127.1M
Financing cash flow -$9.0M-$11.0M-$105.6M$6.8M$7.4M$209.2M$143.8M
Buybacks $100.0M$167.0K

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-018859.

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