HRMY
WAKIX keeps carrying the team
Harmony Biosciences came out swinging with Q1 2026 revenue of $215.4 million, which was up 17% from a year ago. That’s the kind of growth that tells you the core franchise is still sticky, even if the quarter had the usual first-quarter gremlins.
The annoying part: Q1 headwinds
The company said performance was held back a bit by market-access headwinds, and those were apparently more pronounced this year. Translation: the medicine is selling, but getting it into patients’ hands wasn’t quite as smooth as management would like. Still, Harmony said the business is coming off its strongest three-quarter run in franchise history, which is a pretty solid flex.
Guidance: still above the billion-dollar line
The real investor breadcrumb here is guidance. Harmony reaffirmed 2026 net revenue guidance of more than $1 billion, which signals management thinks the demand story is intact despite some early-year friction. In earnings land, that’s often the difference between “uh-oh” and “okay, let’s keep watching.”
Big picture
If you own HRMY, this is less about one quarter and more about whether WAKIX can keep the growth engine running without the access issues becoming a bigger drag. For now, management sounds confident enough to keep the full-year story unchanged.