WHY Harmony Biosciences Holdings Inc. (HRMY) stock gained in the after-hours on Tuesday?

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NARI Stock
NARI Stock

Harmony Biosciences Holdings Inc. (HRMY) shares gained 13.62% in after-hours on Tuesday, July 13, 2021, and closed the trading at $33.95 per share. Earlier in the normal trading, HRMY’s stock lost 1.13% to close Tuesday’s session at $29.88. HRMY shares have moved up 3.11% in the past week. Over the past three months, the stock has gained 4.99%, while over the past six months, it has shed 15.69%.

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Let’s have a look at its recent news and developments


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 Phase 2 Clinical Trial in Myotonic Dystrophy

On June 29, 2021, Harmony Biosciences Holdings, Inc initiated Phase 2 clinical trial to evaluate the safety and efficacy of pitolisant for excessive daytime sleepiness (EDS) and other non-muscular symptoms in adults patients with type 1 myotonic dystrophy (DM1).

Read More

Myotonic dystrophy is the most common form of adult-onset muscular dystrophy.

The Clinical Impact Of WAKIX

On June 10, 2021, Harmony Biosciences Holdings, Inc announced the results of a new analysis evaluating the number needed to treat (NNT) and effect sizes for treatment with WAKIX. The poster was presented at the 35th Annual Meeting of the Associated Professional Sleep Societies (APSS), known as “SLEEP 2021,” held virtually on June 10-13.

2021 Patients at The Heart Grant Program

On June 9, 2021, Harmony Biosciences Holdings, Inc announced applications for its Patients at the Heart Grant Program open Wednesday, June 9, 2021, for patient-centric organizations working to support and address the challenges of people living with sleep disorders and rare diseases who experience excessive daytime sleepiness (EDS).

Participation in the recent investor & health conferences

Harmony’s President and CEO, John Jacobs recently participated in a Fireside Chat at Raymond James Human Health Innovation Conference
which was held on June 21, 2021.

The company was also presented by its CEO at Goldman Sachs 42nd Annual Global Healthcare Conference which was held on June 10, 2021.

The company also took part in Jefferies Healthcare Conference which was held on June 2, 2021.

New appointment

On May 18, 2021, Harmony Biosciences Holdings, Inc appointed John C. Jacobs, President, and CEO of Harmony, to the Life Sciences Pennsylvania’s (LSPA) Board of Directors, effective May 6, 2021.

Recent financial results announcement

On May 11, 2021, Harmony Biosciences Holdings, Inc released its financial results for the first quarter ended March 31, 2021.

Q1 2021 financial highlights

  • Harmony Biosciences reported net product revenue of $59.7 million in Q1 2021, compared to $19.8 million in Q1 2020.
  • The GAAP net income was $7.4 million, or $0.13 per diluted share inQ1 2021, compared to a net loss of $38.6 million or $6.30 per diluted share in Q1 2020.
  • The total operating expenses were $34.73 million in Q1 2021 compared to $26.0 million in Q1 2020.
  • Harmony had cash and cash equivalents of $141.2 million on March 31, 2021, compared to cash and cash equivalents of $228.6 million on December 31, 2020.

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Conclusion

Well, as of this writing, we have no recent news which could be linked with its early minor loss and later gains in the after-hours on Tuesday. We hope that it will continue to perform well in the coming days.

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