Harmony Biosciences Stock Is Trading Higher On $330M Financing Deal With Blackstone, Q2 Earning Beat Estimates

Harmony Biosciences Holdings Inc HRMY has entered into a $330 million financing collaboration with The Blackstone Group Inc BX.
The financing deal includes up to $300 million in debt capital, consisting of a $200 million senior secured term loan facility and a $100 million senior secured delayed draw term loan facility available to be drawn within 12 months of closing.
Additionally, Blackstone is expected to invest $30 million in Harmony stock.
Harmony reported Q2 Wakix revenues of $73.8 million, +94.2% Y/Y, beating the consensus of $68.77 million, driven by organic demand.
The Company posted an adjusted EPS of $0.54, a turnaround from a $(0.07) loss.
Harmony had cash and cash equivalents of $159.7 million.
Price Action: HRMY shares are up 12.30% at $30.06, and BX stock is down 0.38% at $113.81 during the market session on the last check Tuesday.