Harmony Biosciences Holdings Inc (HRMY)

Harmony Biosciences Holdings (HRMY) dropped by 30.25% from $30.27 to $21.11 in the trading on Friday October 13, 2023. The reason why HRMY stock down today is due to the topline data from its Phase 3 INTUNE study of its therapy Pitolisant to treat idiopathic hypersomnia (IH). The drug did not meet its primary endpoint of statistically significant decrease on the Epworth Sleepiness Scale (ESS) compared to a placebo, noting no statistically significant difference was observed.

Harmony Biosciences Holdings Inc (HRMY) fell 8.68% to $33.13 after Goldman Sachs downgraded the previous rating for the stock from Neutral to Sell.

https://www.benzinga.com/analyst-ratings/upgrades/23/09/34869212/benzingas-top-ratings-upgrades-downgrades-for-september-25-2023

Harmony Biosciences' stock (NASDAQ: HRMY) is experiencing a decline in its share value following the submission of a Citizen's Petition to the FDA by Scorpion Capital, which requested the withdrawal of approval of Wakix (pitolisant). Wakix was granted FDA approval for the treatment of excessive daytime sleepiness or cataplexy in adult narcoleptic patients, and has been on the market in the U.S. since the fourth quarter of 2019.

https://finance.yahoo.com/news/short-seller-report-harmony-biosciences-154102274.html