Harmony Biosciences Expands It CNS-Focused Pipeline With Epilepsy Candidate, Q1 Earnings Beat Street View
Portfolio Pulse from Vandana Singh
Harmony Biosciences (NASDAQ:HRMY) announced the acquisition of Epygenix Therapeutics, expanding its CNS-focused pipeline with a rare epilepsy franchise. The deal includes up to $645 million in milestone payments. Harmony reported Q1 earnings with an EPS of $0.88, beating the consensus of $0.62, and sales of $154.6 million. The company reaffirmed its 2024 revenue guidance of $700 million to $720 million. HRMY shares rose 9.79% to $32.11.
April 30, 2024 | 3:44 pm
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Harmony Biosciences acquires Epygenix Therapeutics, expanding its CNS pipeline and reports Q1 earnings beat with EPS of $0.88. Shares rose 9.79% to $32.11.
The acquisition of Epygenix Therapeutics by Harmony Biosciences significantly expands its CNS-focused pipeline, indicating a strong strategic move into rare epilepsy treatment. The positive Q1 earnings report, surpassing EPS expectations, further boosts investor confidence, as reflected in the 9.79% increase in HRMY shares. The reaffirmed 2024 revenue guidance suggests stable growth prospects, contributing to the positive outlook.
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