Harmony Biosciences Holdings, Inc. reported significant financial growth in its latest quarterly filing, with net product revenue reaching $261.3 million for the three months ended June 30, 2026, a 30.3% increase from $200.5 million in the same period last year. For the first half of 2026, revenue totaled $476.7 million, up 23.7% from $385.2 million in the prior year. The growth was primarily driven by a 26.5% increase in units shipped and a 7% price increase, although this was partially offset by higher rebates.
The company's operating income also saw a substantial rise, increasing to $89.3 million for the second quarter of 2026, compared to $48.2 million in the same quarter of 2025. Net income for the quarter was $75.4 million, or $1.30 per share, compared to $39.8 million, or $0.69 per share, in the previous year. For the first half of 2026, net income was $107.9 million, up from $85.3 million in the same period of 2025. The increase in profitability was attributed to effective cost management, with total operating expenses decreasing slightly to $108.8 million from $114.2 million year-over-year.
In terms of strategic developments, Harmony has been actively expanding its product pipeline and market presence. The company has made significant investments in research and development, with expenses totaling $46.6 million for the second quarter, down from $50.2 million in the prior year. This decrease was largely due to a one-time charge related to the CiRC Agreement in 2025. The company is advancing its clinical programs, including the development of new formulations of its lead product, WAKIX, and exploring additional indications for pitolisant. Notably, Harmony submitted a New Drug Application for Pitolisant Gastro-Resistant in June 2026, which is currently under review.
Operationally, Harmony has seen an increase in the number of healthcare professionals prescribing WAKIX, with approximately 9,000 HCPs treating narcolepsy patients as of June 30, 2026. The average number of patients on WAKIX during the quarter was around 8,950, and the company has secured formulary access for over 80% of insured lives in the U.S. The company’s total assets increased to $1.37 billion as of June 30, 2026, up from $1.27 billion at the end of 2025, reflecting strong cash reserves and investments.
Looking ahead, Harmony remains optimistic about its growth trajectory, supported by its robust pipeline and strategic initiatives. The company believes its existing cash, cash equivalents, and investments will meet operational liquidity needs for at least the next twelve months. With ongoing clinical trials and product development efforts, Harmony is positioned to capitalize on the growing market for treatments addressing rare neurological diseases.
About Harmony Biosciences Holdings, Inc.
Harmony Biosciences is a neuroscience company focused on developing and commercializing treatments for rare neurological disorders. Its core product, WAKIX (pitolisant), addresses narcolepsy and related sleep disorders, offering a non-scheduled, first-in-class therapy with a novel mechanism. The company also advances pipeline candidates for hypersomnia, epilepsy, and neurobehavioral conditions, leveraging scientific innovation and strategic licensing to serve patients with limited treatment options.
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