“Product candidates in later stages of clinical development generally have higher development costs in the current period than those in earlier stages of clinical development, primarily due to the increased size and duration of later-stage clinical trials, mil…”10-K · Feb 24, 2026 ↗
Harmony Biosciences Holdings, Inc.
HRMY
Market read
Harmony Biosciences Holdings, Inc.'s current read is isolated; its market group is not confirming.
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 7 directly disclosed connections are confirming.
- HRMY's market-adjusted activity becomes unusual and at least one connected name confirms.
Invalidation: The isolated read changes if HRMY's group or a disclosed connection begins moving with it.
Research brief
The story so far
No new filing conclusion is available. 0 of 1 group members are active now; 0 filing-linked outsiders are moving with the group, and 0 of 7 directly disclosed connections are confirming.
No thresholded supportive filing evidence is available yet.
No thresholded adverse filing evidence is available yet.
- HRMY's market-adjusted activity becomes unusual and at least one connected name confirms.
Company research
Understand the business, not just the ticker
Use the company’s filings to identify the few operating, demand, cost, capital and regulatory variables that determine its earnings power.
- Which operating variable is changing?
- Is that change durable, cyclical or one-off?
- What evidence would disprove the current interpretation?
- Latest annual revenue changed +21.5% year over year.
- Operating cash flow covered net income at 2.19x in the latest annual period.
- Operating margin changed -2.7 percentage points in the latest annual period.
- Net margin changed -2.1 percentage points in the latest annual period.
- Product pipeline and R&D has repeated adverse evidence across 3 filings.
- EV/sales is 87% below the available filing-peer median; determine whether growth and quality justify the difference.
Price as of Sep 10, 2026
41.11Reported annual revenue and per-share history. This is accounting history, not a forecast.
What management says matters
Persistent and emerging business drivers
“The decrease in our effective tax rate for the three months ended March 31, 2026, was primarily driven by an increase in the benefits from research and development and orphan drug credits.”10-Q · May 7, 2026 ↗
“For further discussion of the components of Revenue, see “—Critical Accounting Policies and Significant Judgments and Estimates.” Cost of Product Sold Cost of product sold includes manufacturing and distribution costs, the cost of API, FDA program fees, royal…”10-K · Feb 24, 2026 ↗
Valuation discipline
Descriptive valuation snapshot
Price/sales 2.8× · EV/sales 2.1×. Comparisons use only industry-matched filing peers.
Mechanical 2.0-year scenarios are available as editable assumptions, not consensus.
Price action
How the market is pricing the story
Jodie does not have enough daily observations to draw a useful short-term chart for this asset. The latest quoted price was checked 11 Sept, 15:00 GMT-4; this is a coverage limitation, not a flat-price conclusion.
Developments
No sourced recent-development timeline yet
Jodie has not returned a relevant primary source or news item for HRMY. This is an evidence-coverage gap, not a conclusion that nothing material happened.
Business and financial condition
Reported financial figures are not available yet
Jodie has not returned structured SEC XBRL fundamentals for this asset. This is a coverage limitation, not an assessment of the business or its financial health.
Filing analysis
No comparable filing assessment is available yet
Jodie has not yet found a suitable current-versus-prior filing comparison for HRMY. This does not mean the latest filing was neutral or immaterial.
Business ecosystem
The relationships behind HRMY
Customers, suppliers, partners and competitors named in company filings—not inferred from headlines.
Depends on
ALKSAlkermes plcsupplierFeb 24, 2026 ▾
“Additionally, Avadel Pharmaceuticals (acquired by Alkermes Plc in February 2026) launched a once nightly formulation version of sodium oxybate in June 2023.”
JPMJPMorgan Chase & Co.lenderMay 7, 2026 ▾
“Term Loan A Credit Agreement In July 2023, we entered into a Credit Agreement (the “TLA Credit Agreement”) with JPMorgan Chase Bank, N.A., as “Administrative Agent”, and certain lenders, which was subsequently amended in September 2023.”
Depended on by
AXSMAxsome Therapeutics, Inc.competitorFeb 23, 2026 ▾
“15 Table of Contents AXS‑12 Competition Products approved to treat the symptoms of narcolepsy include generic and/or branded forms of Ritalin, the branded form of which is marketed by Novartis Pharmaceuticals; Provigil and Nuvigil, which are both marketed by…”
Filing peers
Companies whose filings use similar operating language.
Open the three relationships above to see Jodie’s filing proof. Pro unlocks 6 more links, every receipt, and alerts when connected names begin moving. Unlock the full network →
What is moving around it
Live connections
HRMY is currently a Leader in the organic co-movement group Rare Neurological Therapies. This group is discovered from market behaviour rather than assigned from an industry taxonomy. 3 filing-linked names are in the relationship map; none is currently confirmed as moving with the group.
This group is retained as the last observed read for HRMY; it is not active in the latest market snapshot.
Context history
Theme membership history
No durable theme membership has been observed for this name yet.