Harmony Biosciences is a commercial-stage specialty pharma company focused on rare neurological diseases. Its entire revenue comes from a single product: WAKIX (pitolisant), an oral tablet approved to treat excessive daytime sleepiness and cataplexy in narcolepsy patients. WAKIX's key differentiator is that it is the only FDA-approved narcolepsy treatment that is not a DEA-scheduled controlled substance — all competing narcolepsy drugs, including the dominant oxybate therapies and stimulants, are controlled substances, which creates prescribing friction through REMS programs and stricter prescribing rules. Harmony sells WAKIX exclusively through three specialty pharmacies and targets roughly 9,000 neurologists and sleep specialists. Revenue is driven by the number of patients on therapy, new patient adds, retention, and net pricing after payer rebates. Harmony licenses pitolisant from Bioprojet, paying tiered royalties of 13%–24% of net sales plus a 3% trademark royalty. Harmony does not own manufacturing facilities, contracting all production to third parties. Beyond WAKIX, Harmony is developing next-generation pitolisant formulations, pitolisant for Prader-Willi syndrome and myotonic dystrophy, an orexin-2 receptor agonist (BP1.15205), and rare epilepsy treatments through its EPX-100 and EPX-200 programs. Harmony funds its pipeline internally from WAKIX profits and has signaled intent to deploy its substantial cash balance toward CNS acquisitions or licensing deals.