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.
