CNS disorder biotech Harmony Biosciences files for a $100 million IPO

Harmony Biosciences Holdings, a commercial stage biotech developing therapies for narcolepsy and other CNS disorders, filed on Monday with the SEC to raise up to $100 million in an initial public offering.

The company's sole marketed product, WAKIX (pitolisant), was approved for the treatment of excessive daytime sleepiness in adult patients with narcolepsy in August 2019. Since its US commercial launch in November 2019, the product has generated approximately $26 million in net sales. The company expects to initiate a Phase 3 trial for EDS and cataplexy in pediatric patients in the 2H21. It also plans to begin Phase 2 trials for EDS and other key symptoms in patients with Prader-Willi Syndrome in the 2H20 and in adult patients with myotonic dystrophy in the 1H21.

The Plymouth Meeting, PA-based company was founded in 2017 and booked $26 million in net product revenue for the 12 months ended March 31, 2020. It plans to list on the Nasdaq under the symbol HRMY. Goldman Sachs, Jefferies, and Piper Sandler are the joint bookrunners on the deal. No pricing terms were disclosed.

The article CNS disorder biotech Harmony Biosciences files for a $100 million IPO originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

Investment Disclosure: The information and opinions expressed herein were prepared by Renaissance Capital's research analysts and do not constitute an offer to buy or sell any security. Renaissance Capital's Renaissance IPO ETF (symbol: IPO), Renaissance International ETF (symbol: IPOS), or separately managed institutional accounts may have investments in securities of companies mentioned.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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