Neurology-Focused Harmony Biosciences Gains Confidence With Wakix Sales Surge, Strategic Pipeline Expansion, Bullish Analyst Says
Neurology-Focused Harmony Biosciences Gains Confidence With Wakix Sales Surge, Strategic Pipeline Expansion, Bullish Analyst Says
UBS initiated coverage on Harmony Biosciences Holdings Inc (NASDAQ:HRMY), a commercial-stage biopharmaceutical company focused on rare neurological disorders.
瑞銀開始報道和諧生物科學控股公司（納斯達克股票代碼：HRMY），這是一家專注於罕見神經系統疾病的商業階段生物製藥公司。
The company's marketed medicine, Wakix (pitolisant), is approved for excessive daytime sleepiness or cataplexy in adult patients with narcolepsy.
該公司上市的藥物Wakix（pitolisant）獲准用於成年發作性睡病患者的日間過度嗜睡或猝倒。
Wakix generated net revenues of $172.8 million in the second quarter of 2024, up 29% year-over-year.
Wakix在2024年第二季度創造了1.728億美元的淨收入，同比增長29％。
The average number of patients on Wakix increased by approximately 250 patients sequentially to approximately 6,550 for the quarter ended June 30, 2024.
截至2024年6月30日的季度，Wakix的平均患者人數連續增加了約250名患者，達到約6,550人。
UBS initiates with a Buy rating and price target of $56 on Harmony. "We like Harmony because, in our view, continued growth is feasible for Wakix," the analyst writes.
瑞銀最初對Harmony的買入評級和目標股價爲56美元。分析師寫道：「我們之所以喜歡Harmony，是因爲在我們看來，持續增長對Wakix來說是可行的。」
The UBS analyst models a 19% '24-'26E sales CAGR compared to a consensus of 16% and $1.2 billion peak sales from Wakix in narcolepsy.
瑞銀分析師估計，在發作性睡病中，Wakix的銷售複合年增長率爲19％，而Wakix的預期銷售額爲16％，峯值銷售額爲12億美元。
"We believe the narcolepsy market can present more opportunities as awareness of narcolepsy increases the diagnosis rate from the current ~50%," the analyst adds.
分析師補充說：「我們認爲，發作性睡病市場可以帶來更多的機會，因爲對發作性睡病的認識使診斷率從目前的約50％提高。」
UBS also writes that Wakix is well-positioned in the polypharmacy market with its differentiated profile vs. other approved drugs.
瑞銀還寫道，與其他批准的藥物相比，Wakix憑藉其差異化特徵，在多藥市場中處於有利地位。
UBS notes that recent business development deals could offer valuable diversification opportunities through pipeline assets.
瑞銀指出，最近的業務發展協議可以通過管道資產提供寶貴的多元化機會。
In April, Harmony acquired Epygenix Therapeutics, adding a rare epilepsy franchise to its expanding late-stage pipeline of central nervous system (CNS) assets for $35 million in cash with the potential for payments of up to $130 million based on development and regulatory milestones.
4月，Harmony以3500萬美元現金收購了Epygenix Therapeutics，在其擴大的中樞神經系統（CNS）後期資產管道中增加了一家罕見癲癇特許經營權，根據開發和監管里程碑，可能支付高達1.3億美元的款項。
"We believe Zygel can generate positive data from the ongoing Phase 3 trial in fragile X syndrome based on its prior FXS trial results and the design of the current study," UBS writes. Data read-out is expected in mid-2025.
瑞銀寫道：「我們相信，根據其先前的FXS試驗結果和當前研究的設計，Zygel可以從正在進行的脆性X綜合徵3期試驗中獲得積極的數據。」預計將在2025年中期讀出數據。
Price Action: HRMY stock is up 1.55% at $37.46 at the last check on Tuesday.
價格走勢：在週二的最後一次支票中，HRMY股價上漲1.55％，至37.46美元。
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譯文內容由第三人軟體翻譯。