The current read
Harmony is increasingly a lifecycle-extension story around a very strong core asset. WAKIX reached $261.3M of 2Q26 revenue, up 30% year over year, with 8,950 average patients, and remains on track for $1.0–1.04B in 2026 sales. That cash generation funds an unusually catalyst-rich CNS pipeline: Pitolisant GR could extend the franchise beyond current WAKIX exclusivity, while Pitolisant HD, PWS, EPX-100 and BP-205 provide multiple shots at growth outside the existing narcolepsy business.
- The key question is no longer whether WAKIX can become a $1B franchise, but how much of that earnings base survives and expands into the 2030s. GR is the first test, followed by HD and PWS; BP-205 provides the more important longer-term opportunity to establish a second sleep/wake mechanism beyond pitolisant.