Harmony Biosciences Enters Material Definitive Agreement
Ticker: HRMY · Form: 8-K · Filed: Apr 11, 2024 · CIK: 1802665
| Field | Detail |
|---|---|
| Company | Harmony Biosciences Holdings, INC. (HRMY) |
| Form Type | 8-K |
| Filed Date | Apr 11, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 3 min |
| Key Dollar Amounts | $0.00001, $25.5 million, $127.5 million, $240.0 million |
| Sentiment | neutral |
Sentiment: neutral
Topics: material-definitive-agreement, pharmaceuticals
TL;DR
Harmony Bio just signed a big deal, filing shows.
AI Summary
Harmony Biosciences Holdings, Inc. announced on April 6, 2024, the entry into a material definitive agreement. The company, incorporated in Delaware with IRS number 822279923, is involved in the pharmaceutical preparations industry.
Why It Matters
This filing indicates a significant new contract or partnership for Harmony Biosciences, which could impact its future revenue and strategic direction.
Risk Assessment
Risk Level: medium — Material definitive agreements can introduce new risks or opportunities that are not yet fully understood, requiring further analysis.
Key Numbers
- 001-39450 — SEC File Number (Harmony Biosciences' SEC file number)
Key Players & Entities
- Harmony Biosciences Holdings, Inc. (company) — Registrant
- Delaware (jurisdiction) — State of incorporation
- 822279923 (IRS_number) — Registrant's IRS number
- 2834 (SIC_code) — Standard Industrial Classification for Pharmaceutical Preparations
- April 6, 2024 (date) — Date of earliest event reported
FAQ
What is the nature of the material definitive agreement entered into by Harmony Biosciences?
The filing states that Harmony Biosciences Holdings, Inc. entered into a material definitive agreement on April 6, 2024, but the specific details of the agreement are not provided in this excerpt.
When was the earliest event reported in this 8-K filing?
The earliest event reported in this 8-K filing was on April 6, 2024.
What is Harmony Biosciences Holdings, Inc.'s principal executive office address?
Harmony Biosciences Holdings, Inc.'s principal executive office is located at 630 W. Germantown Pike, Suite 215, Plymouth Meeting, PA 19462.
What is Harmony Biosciences Holdings, Inc.'s telephone number?
Harmony Biosciences Holdings, Inc.'s telephone number is (484) 539-9800.
What is Harmony Biosciences Holdings, Inc.'s Standard Industrial Classification code?
Harmony Biosciences Holdings, Inc.'s Standard Industrial Classification code is 2834, which corresponds to Pharmaceutical Preparations.
Filing Stats: 672 words · 3 min read · ~2 pages · Grade level 11.8 · Accepted 2024-04-11 08:30:17
Key Financial Figures
- $0.00001 — ) on which registered Common Stock, $0.00001 par value per share HRMY The Nasdaq
- $25.5 million — pay Bioprojet an upfront license fee of $25.5 million and will also be obligated to pay up to
- $127.5 million — and will also be obligated to pay up to $127.5 million upon achievement of development and reg
- $240.0 million — ent and regulatory milestones and up to $240.0 million upon achievement of sales-based milesto
Filing Documents
- hrmy-20240406x8k.htm (8-K) — 41KB
- hrmy-20240406x8k001.jpg (GRAPHIC) — 1KB
- 0001558370-24-004945.txt ( ) — 161KB
- hrmy-20240406.xsd (EX-101.SCH) — 3KB
- hrmy-20240406_lab.xml (EX-101.LAB) — 16KB
- hrmy-20240406_pre.xml (EX-101.PRE) — 10KB
- hrmy-20240406x8k_htm.xml (XML) — 5KB
01 Entry into a Material Definitive Agreement
Item 1.01 Entry into a Material Definitive Agreement. The information under the heading "LCA Amendments" under Item 8.01. Other Events is incorporated in this Item 1.01 by reference.
01 Other Events
Item 8.01 Other Events. Exclusive Sublicense Agreement On April 11, 2024, Harmony Biosciences Holdings, Inc. announced that its subsidiary Harmony Biosciences, LLC ("Harmony") entered into a sublicense agreement with Bioprojet Socit Civile de Recherche and Bioprojet Pharma SAS ("Bioprojet") for an orexin-2 receptor agonist (OX2R) (the "Licensed Compound") to be evaluated for the treatment of narcolepsy and potential other indications (the "Sublicense"). Under the Sublicense, Harmony obtained the exclusive right to develop, manufacture and commercialize the Licensed Compound in the U.S. and Latin American territories, which are rights that Bioprojet originally licensed from Teijin Pharma, the innovator of the Licensed Compound. The Licensed Compound is currently in pre-clinical development with an Investigational New Drug application currently anticipated in the second half 2025. Under the Sublicense, Harmony will pay Bioprojet an upfront license fee of $25.5 million and will also be obligated to pay up to $127.5 million upon achievement of development and regulatory milestones and up to $240.0 million upon achievement of sales-based milestones, as well as a royalty rate in the mid-teens on sales in the licensed territories. LCA Amendments In connection with the Sublicense, on April 6, 2024, Harmony and Bioprojet also entered into an amendment to that certain License and Commercialization Agreement originally entered into in July 2017 with Bioprojet (the "2017 LCA") and an amendment to that certain License and Commercialization Agreement originally entered into in July 2023 with Bioprojet (the "2022 LCA"). The amendments to the 2017 LCA and the 2022 LCA removed the exclusivity of efforts provisions in those agreements allowing Harmony to expand the scope of its activities.
01. Financial Statements and Exhibits
Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit No. Description 104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. HARMONY BIOSCIENCES HOLDINGS, INC. Date: April 11, 2024 By: /s/ Sandip Kapadia Sandip Kapadia Chief Financial Officer and Chief Administrative Officer