2024 Q2 Form 10-Q Financial Statement

#000155837024006203 Filed on April 30, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1 2023 Q1
Revenue $172.8M $154.6M $119.1M
YoY Change 28.76% 29.79% 39.63%
Cost Of Revenue $32.14M $27.48M $20.78M
YoY Change 28.53% 32.26% 41.21%
Gross Profit $140.7M $127.1M $98.35M
YoY Change 28.81% 29.27% 39.31%
Gross Profit Margin 81.4% 82.22% 82.56%
Selling, General & Admin $55.73M $52.91M $44.63M
YoY Change 17.73% 18.54% 25.86%
% of Gross Profit 39.62% 41.62% 45.38%
Research & Development $63.58M $22.19M $13.29M
YoY Change 324.76% 66.97% 75.36%
% of Gross Profit 45.2% 17.45% 13.51%
Depreciation & Amortization $6.052M $163.0K $103.0K
YoY Change -0.2% 58.25% -11.97%
% of Gross Profit 4.3% 0.13% 0.1%
Operating Expenses $119.3M $75.10M $57.92M
YoY Change 91.5% 29.65% 34.58%
Operating Profit $21.36M $52.03M $40.42M
YoY Change -54.47% 28.72% 46.69%
Interest Expense $301.0K $4.535M -$2.645M
YoY Change -110.84% -271.46% -36.56%
% of Operating Profit 1.41% 8.72% -6.54%
Other Income/Expense, Net $37.00K -$141.0K $2.000K
YoY Change -219.35% -7150.0% -200.0%
Pretax Income $21.69M $51.79M $37.78M
YoY Change -50.8% 37.07% 61.56%
Income Tax $10.10M $13.45M $8.295M
% Of Pretax Income 46.57% 25.97% 21.96%
Net Earnings $11.59M $38.33M $29.49M
YoY Change -66.21% 30.01% 37.24%
Net Earnings / Revenue 6.71% 24.79% 24.75%
Basic Earnings Per Share $0.20 $0.68 $0.49
Diluted Earnings Per Share $0.20 $0.67 $0.48
COMMON SHARES
Basic Shares Outstanding 56.79M 56.77M 59.62M
Diluted Shares Outstanding 57.54M 57.60M 61.22M

Balance Sheet

Concept 2024 Q2 2024 Q1 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $346.9M $372.4M $343.9M
YoY Change -6.49% 8.28% 53.18%
Cash & Equivalents $317.3M $333.0M $288.0M
Short-Term Investments $29.61M $39.37M $55.92M
Other Short-Term Assets $6.507M $8.683M $6.145M
YoY Change -59.31% 41.3% 80.21%
Inventory $5.643M $5.857M $4.090M
Prepaid Expenses $16.13M $12.89M $11.40M
Receivables $83.16M $79.72M $52.58M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $458.3M $479.5M $418.1M
YoY Change 0.59% 14.69% 49.18%
LONG-TERM ASSETS
Property, Plant & Equipment $754.0K $213.0K $470.0K
YoY Change -71.32% -54.68% -37.17%
Goodwill
YoY Change
Intangibles $125.2M $131.1M $155.0M
YoY Change -16.0% -15.38% -13.33%
Long-Term Investments $87.18M $81.24M $48.54M
YoY Change 48.64% 67.38%
Other Assets $6.465M $6.969M $2.870M
YoY Change -93.14% 142.82% -15.91%
Total Long-Term Assets $400.0M $367.5M $297.0M
YoY Change 31.36% 23.73% 61.64%
TOTAL ASSETS
Total Short-Term Assets $458.3M $479.5M $418.1M
Total Long-Term Assets $400.0M $367.5M $297.0M
Total Assets $858.4M $847.0M $715.1M
YoY Change 12.92% 18.44% 54.11%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $22.68M $15.14M $6.414M
YoY Change 245.62% 136.11% -7.1%
Accrued Expenses $91.64M $91.70M $56.81M
YoY Change 24.99% 61.41% 44.26%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $15.00M $15.00M $6.500M
YoY Change 36.36% 130.77% 225.0%
Total Short-Term Liabilities $146.6M $154.3M $85.36M
YoY Change 57.54% 80.7% 51.01%
LONG-TERM LIABILITIES
Long-Term Debt $171.4M $175.0M $185.1M
YoY Change -5.02% -5.44% -2.55%
Other Long-Term Liabilities $1.796M $2.342M $1.625M
YoY Change 21.43% 44.12% -47.21%
Total Long-Term Liabilities $173.2M $177.3M $186.7M
YoY Change -4.81% -5.01% -3.26%
TOTAL LIABILITIES
Total Short-Term Liabilities $146.6M $154.3M $85.36M
Total Long-Term Liabilities $173.2M $177.3M $186.7M
Total Liabilities $319.8M $331.6M $272.1M
YoY Change 16.29% 21.89% 9.04%
SHAREHOLDERS EQUITY
Retained Earnings -$93.35M -$104.9M -$242.6M
YoY Change -55.19% -56.75% -43.85%
Common Stock $632.2M $620.5M $685.7M
YoY Change -8.91% -9.51% 6.05%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $538.6M $515.4M $443.0M
YoY Change
Total Liabilities & Shareholders Equity $858.4M $847.0M $715.1M
YoY Change 12.92% 18.44% 54.11%

Cashflow Statement

Concept 2024 Q2 2024 Q1 2023 Q1
OPERATING ACTIVITIES
Net Income $11.59M $38.33M $29.49M
YoY Change -66.21% 30.01% 37.24%
Depreciation, Depletion And Amortization $6.052M $163.0K $103.0K
YoY Change -0.2% 58.25% -11.97%
Cash From Operating Activities $42.62M $31.14M $42.56M
YoY Change 14.99% -26.83% 47.51%
INVESTING ACTIVITIES
Capital Expenditures $632.0K $5.000K $0.00
YoY Change 208.29% -100.0%
Acquisitions
YoY Change
Other Investing Activities -$54.22M -$6.181M -$1.790M
YoY Change 616.68% 245.31%
Cash From Investing Activities -$54.86M -$6.186M -$1.790M
YoY Change 605.91% 245.59% -95.53%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net $3.750M $500.0K
YoY Change 650.0% 0.0%
Cash From Financing Activities -3.446M -3.634M 3.409M
YoY Change 916.52% -206.6% 146.49%
NET CHANGE
Cash From Operating Activities 42.62M 31.14M 42.56M
Cash From Investing Activities -54.86M -6.186M -1.790M
Cash From Financing Activities -3.446M -3.634M 3.409M
Net Change In Cash -15.69M 21.32M 44.18M
YoY Change -154.17% -51.74% -550.34%
FREE CASH FLOW
Cash From Operating Activities $42.62M $31.14M $42.56M
Capital Expenditures $632.0K $5.000K $0.00
Free Cash Flow $41.99M $31.14M $42.56M
YoY Change 13.91% -26.84% 47.74%

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CY2024Q1 us-gaap Depreciation
Depreciation
163000
CY2023Q1 us-gaap Depreciation
Depreciation
103000
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5961000
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5961000
CY2024Q1 us-gaap Share Based Compensation
ShareBasedCompensation
10394000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
7203000
CY2024Q1 hrmy Stock Appreciation Rights Market Adjustment
StockAppreciationRightsMarketAdjustment
40000
CY2023Q1 hrmy Stock Appreciation Rights Market Adjustment
StockAppreciationRightsMarketAdjustment
-642000
CY2024Q1 hrmy Adjustment For Amortization Of Debt Issuance Costs
AdjustmentForAmortizationOfDebtIssuanceCosts
180000
CY2023Q1 hrmy Adjustment For Amortization Of Debt Issuance Costs
AdjustmentForAmortizationOfDebtIssuanceCosts
416000
CY2024Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-3477000
CY2023Q1 us-gaap Deferred Income Taxes And Tax Credits
DeferredIncomeTaxesAndTaxCredits
-3442000
CY2024Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
594000
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
636000
CY2024Q1 us-gaap Other Noncash Expense
OtherNoncashExpense
467000
CY2023Q1 us-gaap Other Noncash Expense
OtherNoncashExpense
369000
CY2024Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
5579000
CY2023Q1 us-gaap Increase Decrease In Accounts Receivable
IncreaseDecreaseInAccountsReceivable
-2165000
CY2024Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
494000
CY2023Q1 us-gaap Increase Decrease In Inventories
IncreaseDecreaseInInventories
-207000
CY2024Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
3439000
CY2023Q1 us-gaap Increase Decrease In Prepaid Deferred Expense And Other Assets
IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
-592000
CY2024Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
-2586000
CY2023Q1 us-gaap Increase Decrease In Accounts Payable Trade
IncreaseDecreaseInAccountsPayableTrade
2628000
CY2024Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-8229000
CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-1850000
CY2024Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
31141000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
42559000
CY2024Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
25106000
CY2023Q1 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
47776000
CY2024Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
18925000
CY2023Q1 us-gaap Proceeds From Sale And Maturity Of Available For Sale Securities
ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
45986000
CY2024Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
5000
CY2024Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-6186000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1790000
CY2024Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
3750000
CY2023Q1 us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
500000
CY2024Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
116000
CY2023Q1 us-gaap Proceeds From Stock Options Exercised
ProceedsFromStockOptionsExercised
3909000
CY2024Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-3634000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
3409000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
21321000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
44178000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
311930000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
244534000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
333251000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
288712000
CY2024Q1 us-gaap Interest Paid Net
InterestPaidNet
4585000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
5017000
CY2024Q1 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-104943000
CY2023Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-143277000
CY2024Q1 us-gaap Investments And Cash
InvestmentsAndCash
453594000
CY2024Q1 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;"><b style="font-weight:bold;">Reclassifications</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Certain prior period amounts within the unaudited condensed consolidated statements of operations and comprehensive income have been reclassified to conform to current period presentation. In particular, interest expense and interest income were previously classified together as interest expense, net and are now separately classified as interest expense and interest income, respectively. The reclassification of these items had no impact on net income, earnings per share or accumulated deficit in current or prior periods.</p>
CY2024Q1 hrmy Number Of Approved Commercial Products
NumberOfApprovedCommercialProducts
1
CY2024Q1 us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 36pt;"><b style="font-style:normal;font-weight:bold;">Use of Estimates</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts and disclosures in the unaudited condensed consolidated financial statements, including the notes thereto, and elsewhere in this report. Actual results may differ significantly from estimates, which include rebates due pursuant to commercial and government contracts, accrued research and development expenses, stock-based compensation expense and income taxes. </p>
CY2024Q1 us-gaap Number Of Operating Segments
NumberOfOperatingSegments
1
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2024Q1 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
332981000
CY2023Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
311660000
CY2024Q1 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
270000
CY2023Q4 us-gaap Restricted Cash Noncurrent
RestrictedCashNoncurrent
270000
CY2024Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
333251000
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
311930000
CY2024Q1 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;font-style:italic;font-weight:bold;margin:0pt 0pt 12pt 36pt;"><b style="font-style:normal;font-weight:bold;">Concentrations of Risk</b></p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">Substantially all of the Company’s cash and money market funds are held in five financial institutions. Due to their size, the Company believes these financial institutions represent minimal credit risk. Deposits may exceed the amount of insurance provided on such deposits by the Federal Deposit Insurance Corporation for U.S. institutions. The Company has not experienced any losses on its deposits of cash and cash equivalents. The Company believes that it is not exposed to significant credit risk due to the financial position of the depository institutions in which those deposits are held.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company is subject to credit risk from its trade receivables related to its product sales. The Company extends credit to specialty pharmaceutical distribution companies within the United States. Customer creditworthiness is monitored, and collateral is not required. Historically, the Company has not experienced credit losses on its accounts receivable. The Company monitors its exposure within accounts receivable and would record a reserve against uncollectible accounts receivable if necessary. As of March 31, 2024, three customers accounted for 100% of gross accounts receivable; Caremark LLC (“CVS Caremark”), which accounted for 41% of gross accounts receivable; Accredo Health Group, Inc. (“Accredo”), which accounted for 36% of gross accounts receivable; and PANTHERx Specialty Pharmacy LLC (“Pantherx”), which accounted for 23% of gross accounts receivable. As of December 31, 2023, three customers accounted for 100% of gross accounts receivable; Accredo, which accounted for 39% of gross accounts receivable, CVS Caremark, which accounted for 32% of gross accounts receivable; and Pantherx, which accounted for 29% of gross accounts receivable.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">For the three months ended March 31, 2024, three customers accounted for 100% of gross product revenue; CVS Caremark accounted for 42% of gross product revenue; Accredo accounted for 33% of gross product revenue; and Pantherx accounted for 25% of gross product revenue. For the three months ended March 31, 2023, three customers accounted for 100% of gross product revenue; CVS Caremark accounted for 35% of gross product revenue; Pantherx accounted for 33% of gross product revenue; and Accredo accounted for 32% of gross product revenue.</p><p style="font-family:'Arial','Helvetica','sans-serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt 0pt 12pt 0pt;">The Company depends on a single supplier for its product and a single supplier for its active pharmaceutical ingredient.</p>
CY2024Q1 hrmy Concentrations Of Risk Number Of Financial Institutions
ConcentrationsOfRiskNumberOfFinancialInstitutions
5
CY2024Q1 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
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AssetAcquisitionConsiderationTransferredTransactionCost
2645000
CY2024Q1 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
384692000
CY2023Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
358538000
CY2024Q1 us-gaap Inventory Raw Materials
InventoryRawMaterials
1009000
CY2023Q4 us-gaap Inventory Raw Materials
InventoryRawMaterials
1060000
CY2024Q1 us-gaap Inventory Work In Process
InventoryWorkInProcess
1748000
CY2023Q4 us-gaap Inventory Work In Process
InventoryWorkInProcess
2020000
CY2024Q1 us-gaap Inventory Finished Goods
InventoryFinishedGoods
3100000
CY2023Q4 us-gaap Inventory Finished Goods
InventoryFinishedGoods
2283000
CY2024Q1 us-gaap Inventory Net
InventoryNet
5857000
CY2023Q4 us-gaap Inventory Net
InventoryNet
5363000
CY2023Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5961000
CY2024Q1 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
5961000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
17884000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
23845000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
23845000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
23845000
CY2024Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
23845000
CY2024Q1 hrmy Finite Lived Intangible Asset Expected Amortization After Year Four
FiniteLivedIntangibleAssetExpectedAmortizationAfterYearFour
17883000
CY2024Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
131147000
CY2024Q1 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
215000000
CY2023Q4 us-gaap Intangible Assets Gross Excluding Goodwill
IntangibleAssetsGrossExcludingGoodwill
215000000
CY2024Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
83853000
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
77892000
CY2024Q1 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
131147000
CY2023Q4 us-gaap Intangible Assets Net Excluding Goodwill
IntangibleAssetsNetExcludingGoodwill
137108000
CY2024Q1 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
24738000
CY2023Q4 us-gaap Accrued Royalties Current
AccruedRoyaltiesCurrent
40419000
CY2024Q1 hrmy Accrued Rebates And Other Sales Deductions Current
AccruedRebatesAndOtherSalesDeductionsCurrent
48165000
CY2023Q4 hrmy Accrued Rebates And Other Sales Deductions Current
AccruedRebatesAndOtherSalesDeductionsCurrent
38842000
CY2024Q1 us-gaap Interest Payable Current
InterestPayableCurrent
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CY2023Q4 us-gaap Interest Payable Current
InterestPayableCurrent
3354000
CY2024Q1 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
2999000
CY2023Q4 us-gaap Accrued Marketing Costs Current
AccruedMarketingCostsCurrent
2354000
CY2024Q1 hrmy Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
7898000
CY2023Q4 hrmy Accrued Research And Development Current
AccruedResearchAndDevelopmentCurrent
9835000
CY2024Q1 hrmy Accrued Professional Fees Consulting And Other Services
AccruedProfessionalFeesConsultingAndOtherServices
1918000
CY2023Q4 hrmy Accrued Professional Fees Consulting And Other Services
AccruedProfessionalFeesConsultingAndOtherServices
2195000
CY2024Q1 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2856000
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
2495000
CY2024Q1 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
91699000
CY2023Q4 us-gaap Accrued Liabilities Current
AccruedLiabilitiesCurrent
99494000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2023Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
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CY2024Q1 hrmy Unamortized Debt Discount Associated With Exit Fee Debt Financing Costs And Discount With Warrant Financing
UnamortizedDebtDiscountAssociatedWithExitFeeDebtFinancingCostsAndDiscountWithWarrantFinancing
2504000
CY2023Q4 hrmy Unamortized Debt Discount Associated With Exit Fee Debt Financing Costs And Discount With Warrant Financing
UnamortizedDebtDiscountAssociatedWithExitFeeDebtFinancingCostsAndDiscountWithWarrantFinancing
2684000
CY2024Q1 us-gaap Long Term Debt
LongTermDebt
189996000
CY2023Q4 us-gaap Long Term Debt
LongTermDebt
193566000
CY2024Q1 us-gaap Long Term Debt Current
LongTermDebtCurrent
15000000
CY2023Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
15000000
CY2024Q1 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
174996000
CY2023Q4 us-gaap Long Term Debt Noncurrent
LongTermDebtNoncurrent
178566000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
11250000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
16250000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
20000000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
20000000
CY2024Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
125000000
CY2024Q1 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
192500000
CY2024Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
4355000
CY2023Q1 us-gaap Interest Expense Debt Excluding Amortization
InterestExpenseDebtExcludingAmortization
5315000
CY2024Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
180000
CY2023Q1 us-gaap Amortization Of Financing Costs
AmortizationOfFinancingCosts
416000
CY2024Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
4535000
CY2023Q1 us-gaap Interest Expense Debt
InterestExpenseDebt
5731000
CY2018Q2 hrmy Operating Lease Office Space
OperatingLeaseOfficeSpace
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CY2018Q2 hrmy Operating Lease Additional Office Space Leased One
OperatingLeaseAdditionalOfficeSpaceLeasedOne
13000
CY2018Q2 hrmy Operating Lease Additional Office Space Leased Two
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CY2024Q1 us-gaap Lessee Operating Lease Existence Of Option To Extend
LesseeOperatingLeaseExistenceOfOptionToExtend
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CY2024Q1 us-gaap Lessee Operating Lease Existence Of Option To Terminate
LesseeOperatingLeaseExistenceOfOptionToTerminate
true
CY2024Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
509000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
378000
CY2024Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P1Y9M18D
CY2024Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0732
CY2024Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3046000
CY2023Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2344000
CY2024Q1 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1793000
CY2023Q4 us-gaap Operating Lease Liability Current
OperatingLeaseLiabilityCurrent
1437000
CY2024Q1 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1276000
CY2023Q4 us-gaap Operating Lease Liability Noncurrent
OperatingLeaseLiabilityNoncurrent
1082000
CY2024Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
3069000
CY2023Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2519000
CY2024Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
561000
CY2023Q1 us-gaap Operating Lease Payments
OperatingLeasePayments
428000
CY2024Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
1198000
CY2023Q1 us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
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526000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1564000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
1239000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
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CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
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3000
CY2024Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
3279000
CY2024Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
210000
CY2024Q1 us-gaap Operating Lease Liability
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3069000
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CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
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ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMinimum
0.7487
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRateMaximum
0.8078
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0406
CY2024Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0420
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Minimum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMinimum
0.0342
CY2023 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRateMaximum
0.0462
CY2024Q1 hrmy Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Lack Of Marketability Discount
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsLackOfMarketabilityDiscount
0.0000
CY2023 hrmy Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Lack Of Marketability Discount
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsLackOfMarketabilityDiscount
0.0000
CY2024Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
10434000
CY2023Q1 us-gaap Allocated Share Based Compensation Expense
AllocatedShareBasedCompensationExpense
6561000
CY2024Q1 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized Period For Recognition1
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognizedPeriodForRecognition1
P2Y8M12D
CY2024Q1 us-gaap Net Income Loss
NetIncomeLoss
38334000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
29485000
CY2024Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.68
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.49
CY2024Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.67
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.48
CY2024Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
56771251
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
59732157
CY2024Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
57597627
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61221511
CY2024Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
826376
CY2023Q1 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
1489354
CY2024Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
7281505
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
4661499
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Share Based Compensation Excess Tax Benefit Percent
EffectiveIncomeTaxRateReconciliationShareBasedCompensationExcessTaxBenefitPercent
-0.028
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.051
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.063
CY2024Q1 hrmy Effective Income Tax Rate Reconciliation Credits
EffectiveIncomeTaxRateReconciliationCredits
-0.010
CY2023Q1 hrmy Effective Income Tax Rate Reconciliation Credits
EffectiveIncomeTaxRateReconciliationCredits
-0.029
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.004
CY2023Q1 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.004
CY2024Q1 us-gaap Effective Income Tax Rate Reconciliation Change In Deferred Tax Assets Valuation Allowance
EffectiveIncomeTaxRateReconciliationChangeInDeferredTaxAssetsValuationAllowance
0.005
CY2024Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.260
CY2023Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.220
CY2024Q1 us-gaap Other Receivables
OtherReceivables
0
CY2023Q4 us-gaap Other Receivables
OtherReceivables
0
CY2024Q1 ecd Trd Arr Adoption Date
TrdArrAdoptionDate
2024-02-23
CY2024Q1 ecd Trd Arr Ind Name
TrdArrIndName
Jeffrey Dierks
CY2024Q1 ecd Trd Arr Ind Title
TrdArrIndTitle
Chief Commercial Officer
CY2024Q1 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
true
CY2024Q1 ecd Trd Arr Securities Agg Avail Amt
TrdArrSecuritiesAggAvailAmt
35708
CY2024Q1 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2024Q1 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false

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0001558370-24-006203.txt Edgar Link pending
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