HRMY - Harmony Biosciences Holdings Inc (HRMY) Q1 2024 Earnings Call Transcript

2024-04-30 13:49:15 ET

Harmony Biosciences Holdings, Inc (HRMY)

Q1 2024 Earnings Conference Call

April 30, 2024 08:30 AM ET

Company Participants

Luis Sanay - Head of Investor Relations

Jeffrey Dayno - President & Chief Executive Officer

Jeffrey Dierks - Chief Commercial Officer

Kumar Budur - Chief Medical Officer

Sandip Kapadia - Chief Financial Officer & Chief Administrative Officer

Conference Call Participants

Charles Duncan - Cantor Fitzgerald

Francois Brisebois - Oppenheimer

Ami Fadia - Needham

David Amsellem - Piper Sandler

Graig Suvannavejh - Mizuho

Corinne Jenkins - Goldman Sachs

Jason Gerberry - Bank of America

Danielle Brill - Raymond James

Presentation

Operator

Good morning. My name is Madison, and I will be your conference operator today. At this time, I would like to welcome everyone to Harmony Biosciences' First Quarter 2024 Financial Results Conference Call. All participant lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question-and-answer session [Operator Instructions] Please be advised that today's conference may be recorded. [Operator Instructions] I will now turn the call over to Luis Sanay Head of Investor Relations. Please go ahead.

Luis Sanay

Thank you, operator. Good morning, everyone and thank you for joining us today, as we review Harmony Biosciences' first quarter 2024 financial results and provide a business update. Before we start, I encourage everyone to go to the Investors section of our website to find the materials that accompany our discussion today including a reconciliation of our GAAP to non-GAAP financial measures. At this stage of our life cycle, we believe non-GAAP financial results better represent the underlying business performance.

Our speakers on today's call are Dr. Jeffrey Dayno, President and CEO; Jeffrey Dierks, Chief Commercial Officer; Dr. Kumar Budur, Chief Medical Officer; and Sandip Kapadia, Chief Financial Officer and Chief Administrative Officer.

As a reminder, we will be making forward-looking statements today, which are based on our current expectations and beliefs. These statements are subject to certain risks and uncertainties. Our actual results may differ materially and we undertake no obligation to update these statements even if circumstances change. We encourage you to consult the risk factors referenced in our SEC filings for additional details. We have a lot to share this morning so in order to allow ample time for Q&A, we will keep our prepared remarks brief this morning.

I would now like to turn the call over to Dr. Jeffrey Dayno. Jeff?

Jeffrey Dayno

Thank you, Luis and thanks everyone for joining our conference call today. Earlier this morning, we were excited to announce our third business development deal in the past eight months with the acquisition of Epygenix Therapeutics. As you may have seen in our earnings release, in addition to this news, we have accelerated our growth strategy and have transformed our business to position Harmony for long-term value creation.

Given all the exciting news and upcoming catalysts that we have to share today, we will not be able to go into depth on everything on this call. But the key points that I want you to take away from our call today regarding the Harmony story are the following. Our commercial business is strong and WAKIX continues to demonstrate durable growth now year five in the market.

WAKIX is a $1 billion-plus market opportunity in adult narcolepsy alone and we are well on our way as we expect to continue to grow the brand through LOE in 2030. We are growing organically by advancing our life cycle management programs for pitolisant with the next-generation formulations, designed to improve the patient experience and patient outcomes as well as generate new IP to extend the pitolisant franchise out beyond 2040....

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