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Harmony Biosciences Holdings, Inc. reported strong first-quarter financial results with a net revenue growth of 30% year-over-year. The company is accelerating its growth strategy by extending the revenue potential of its Pitolisant franchise beyond 2040. They are strengthening their sleep/wake leadership with new drug applications for Pitolisant in Idiopathic Hypersomnia, pediatric exclusivity, and positive pharmacokinetic data on next-generation formulations. Harmony is also diversifying into rare epilepsy through an acquisition, reiterating 2024 net product revenue guidance of $700 - $720 million. The company expects to launch new products or indications annually over the next five years, with multi-billion-dollar revenue potential extending beyond 2040.
Harmony Biosciences acquired Epygenix Therapeutics, Inc., adding a rare epilepsy franchise to its CNS pipeline. The lead candidate, EPX-100, is in a pivotal trial for Dravet Syndrome with topline data expected in 2026. EPX-100 holds Orphan Drug and Rare Pediatric Disease designations. Harmony paid $35 million in cash with potential payments up to $130 million based on milestones.
