Harmony Biosciences Holdings Inc. (HRMY) shares surged 12.34% in after-hours on Friday, November 12, 2021, and closed the weekly trading at $47.78. in the regular trading session, HRMY’s stock gained 0.02%. HRMY shares have fallen 3.21% over the last 12 months, and they have moved up 1.36% in the past week. Over the past three months, the stock has gained 34.97%, while over the past six months, it has soared 42.38%.
Let’s have a brief discussion about its recent news and developments.
HRMY participation in the upcoming investor conferences
Harmony Biosciences Holdings, Inc. (HRMY) will participate at Jefferies London Healthcare Conference and Piper Sandler 33rd Annual Virtual Healthcare Conference. Harmony’s President and CEO, John C. Jacobs, will participate in fireside chats and host investor meetings during both events.
HRMY latest financial results
On November 09, 2021, Harmony Biosciences Holdings, Inc. (HRMY) reported financial results for the quarter ended September 30, 2021.
Q3 2021 financial highlights
- HRMY reported total revenue of $80.7 million Q3 2021 compared to $45.6 million for the same period in 2020.
- The cost of revenue was $66.12 million in Q3 2021, compared to $37.7 million in Q3 2020.
- Total operating expenses were $45.1 million in the third quarter of 2021 as compared with $27.3 million for the same quarter in 2020.
- It suffered a GAAP net loss of was $9.6 million, or a loss of $0.17 per diluted share in Q3 2021 compared to a net loss of $4.1 million, or a loss of $0.14 per diluted share in Q3 2020.
- Harmony ended the quarter with cash and cash equivalents of $189.7 million.
HRMY added to S&P SmallCap 600® Index
Harmony Biosciences Holdings, Inc. (HRMY), was added to the S&P SmallCap 600® Index on Friday, October 22, 2021.
At this moment, President and Chief Executive Officer of Harmony, John C. Jacobs, said that he is very pleased that Harmony was included in the S&P SmallCap 600® Index and is proud of this recognition. He further said that the inclusion in the index will increase our visibility and raise awareness of the work we are doing to help patients, as we continue to build a leading rare neurological disease company.
Update about HRMY WAKIX® (pitolisant)
On September 2, 2021, the American Academy of Sleep Medicine (AASM) published an updated clinical practice guideline, which includes Harmony Biosciences Holdings, Inc. (HRMY) WAKIX® (pitolisant) as a recommended treatment option for adults living with narcolepsy.
The new clinical practice guideline was published in the Journal of Clinical Sleep Medicine in a special.
WAKIX, a first-in-class medication, is approved by the U.S. Food and Drug Administration for the treatment of excessive daytime sleepiness or cataplexy in adult patients with narcolepsy and has been commercially available in the U.S. since Q4 2019.
Conclusion
Well, as of this writing, there is no recent news which could be the reason behind its positive performance on Friday. let’s see how it performs on Monday after the weekend?
