Harmony Biosciences reported Q3 product revenue of $268.92 million, below the $273.08 million analyst estimate, and pretax profit of $59.25 million, below the $85.44 million estimate. Net income fell year over year to $48.20 million as milestone and royalty charges increased; the company reiterated its 2026 WAKIX revenue guidance of $1.0 billion to $1.04 billion.
Harmony Biosciences’ Q3 product revenue rose 12% year over year to $268.92 million, missing the $273.08 million analyst estimate. Pretax profit was $59.25 million, below the $85.44 million estimate, while net income declined year over year to $48.20 million. The company said higher milestone and royalty charges contributed to the decline, and that increased product costs primarily reflected new royalties related to its Novitium license agreement.
The company reiterated its 2026 WAKIX net revenue guidance of $1.0 billion to $1.04 billion. It attributed Q3 WAKIX revenue growth to strong patient demand, including 400 net patient additions during the quarter. Harmony expects Phase 1b BP-205 data in Q1 2027, plans to start Phase 2 studies by mid-2027, and said its pitolisant GR new drug application is under FDA review, with a potential launch in the first half of 2027 and a PDUFA date of April 1, 2027.
