Harmony Biosciences Sees 2024 Net Product Revenue Projected Between $700M-$720M; $50M Common Stock Repurchase In Q4 Bringing 2023 Total To $100M; Expect To Continue Opportunistic Share Repurchases In 2024
Portfolio Pulse from Benzinga Newsdesk
Harmony Biosciences projects 2024 net product revenue between $700M-$720M and has repurchased $50M in common stock in Q4 2023, totaling $100M for the year. The company plans to continue share repurchases in 2024. Key priorities include growing WAKIX for narcolepsy, advancing the pipeline with several trials, and disciplined capital allocation to maximize shareholder value. The financial data is preliminary and unaudited.
January 08, 2024 | 1:34 pm
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Harmony Biosciences expects higher 2024 revenue and has repurchased $100M in stock, with plans to continue buybacks. This reflects strong financial health and a commitment to shareholder value.
The positive revenue projection and aggressive stock repurchase program indicate management's confidence in the company's growth and financial stability, which is likely to be viewed positively by investors and could lead to a short-term increase in stock price.
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