HRMY Q3 Earnings Miss Estimates on Higher Costs Despite Wakix Growth
Harmony Biosciences reported Q3 EPS of 81 cents, missing consensus estimates of $1.00, despite 12% revenue growth to $269 million. Higher R&D spending, a $25 million MSN milestone charge, and royalty expenses pressured profitability. The company reaffirmed its 2026 Wakix revenue guidance of $1-$1.04 billion, supported by sustained patient demand and 400 net patient additions. The pipeline includes promising Phase I results for BP-205 and ongoing late-stage studies for pitolisant formulations and epilepsy programs.