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Harmony Biosciences Sinks on FDA Nod

Harmony Biosciences Holdings, Inc. (NASDAQ: HRMY) announced that the U.S. Food and Drug Administration (FDA) granted priority review for its supplemental New Drug Application (sNDA) for WAKIX® (pitolisant) tablets for the treatment of excessive daytime sleepiness (EDS) or cataplexy in pediatric patients 6 years of age and older with narcolepsy. The FDA has set a Prescription Drug User Fee Act (PDUFA), or target action date, of June 21, 2024.

"The FDA's decision highlights the pressing need for new treatment options for children living with narcolepsy and expedites the timeline for its decision," said Jeffrey M. Dayno, M.D., President and Chief Executive Officer at Harmony Biosciences. "We are committed to expanding the utility of pitolisant for patients with high unmet medical needs and look forward to collaborating with the FDA to potentially introduce a new, non-scheduled treatment option for children with narcolepsy."

The FDA accepted the sNDA and granted priority review based on a Phase 3 multicenter, randomized, placebo-controlled study conducted by Bioprojet that evaluated the safety and efficacy of pitolisant in pediatric patients six to < 18 years with narcolepsy with or without cataplexy. Based on the results of this study, Bioprojet received approval from the European Medicines Agency last year extending the indication for pitolisant to include the treatment of narcolepsy in children aged six years and older, with or without cataplexy.

HRMY lost 28 cents to $32.74.