Plymouth Meeting-based Harmony Biosciences saw its stock rise by almost 13 percent Thursday after reporting positive sales growth for Wakix, its flagship sleep disorder drug, writes John George for the Philadelphia Business Journal.
Shares of the pharmaceutical company closed at $29.76, an increase of 12.7 percent.
Harmony reported that its narcolepsy drug generated $239 million in net revenue for the third quarter, ahead of its November 4 earnings release, which is a 29 percent increase from $186 million for the same period last year.
The sales growth is driven by an increase in the average number of patients taking the prescription medication of about 500 to reach 8,100 in the quarter. This marks the largest patient increase the company has reported to date.
The company increased its overall 2025 revenue guidance from its previous range of $820 million to $860 million to a slightly higher $845 million to $865 million range, reflecting a strong rise in recent sales performance.
Wakix is an FDA-approved treatment for excessive daytime sleepiness and cataplexy in patients with narcolepsy. It generated total sales of $714.7 million in 2024.
Read more about Harmony Biosciences in the Philadelphia Business Journal.
