{
  "docId": "019dd923-622c-750b-8b9a-21918ac10c17",
  "docSlug": "f3db2294dcf9",
  "documentTitle": "Harmony Biosciences (HRMY)",
  "authorId": "58_Scorpion_Capital",
  "authorName": "Scorpion Capital",
  "documentKindSlug": "research-note",
  "documentKindLabel": "Research note",
  "sourceTypeSlug": "short_seller",
  "sourceTypeLabel": "Short seller",
  "presentationDate": "2023-03-28 00:00:00",
  "orientation": "landscape",
  "aspectRatio": 1.3333334,
  "pageNumber": 363,
  "pageCount": 366,
  "prevPage": 362,
  "nextPage": 364,
  "slideType": "testimonial",
  "function": "expose_contradiction",
  "density": "balanced",
  "nDataPoints": 3,
  "notes": "The slide uses a Q&A format to validate the thesis of a slowing business.",
  "elementsJson": [
    "paragraph",
    "quote_block"
  ],
  "metadataConfidence": 1,
  "imagePath": null,
  "slideHref": "/slides/019dd923-622c-750b-8b9a-21918ac10c17/363",
  "deckHref": "/decks/019dd923-622c-750b-8b9a-21918ac10c17",
  "deckJsonHref": "/decks/019dd923-622c-750b-8b9a-21918ac10c17.json",
  "deckAnchorHref": "/decks/019dd923-622c-750b-8b9a-21918ac10c17#slide-363",
  "components": [
    {
      "bbox": null,
      "kind": "callout",
      "text": "How am I going to increase quarter over quarter by 40%? No one could have done that...nobody could do 40% with a product that mature.",
      "attrs": null,
      "subkind": null,
      "toolName": "Visual emphasis",
      "toolSlug": "visual-emphasis",
      "confidence": null,
      "componentId": "019dd953-64d1-73a9-abc1-c1f0f5b8281f",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.48,
        "w": 0.86,
        "x": 0.07,
        "y": 0.45
      },
      "kind": "list",
      "text": "Q&A transcript highlighting sales flattening, quota issues, and rep performance.",
      "attrs": null,
      "subkind": "bullet",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "0fc513bd-3e4b-4408-ae91-a13b17161c0e",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.35,
        "w": 0.86,
        "x": 0.07,
        "y": 0.07
      },
      "kind": "paragraph",
      "text": "Yet another former territory manager conveyed a flattening in the last 6-12 months in particular, with large numbers of sales rep now floundering: “Yeah, it was definitely slowing down. The way you could gauge that would be the pressure that was applied from above, the flattening out of the trend...definitely, there was a flattening...but the company and the powers that be did not want to hear it.” Confirming the spike in Performance Improvement Plans, he estimated that a significant percent of sales reps are below quota – “the percentage of representatives that I knew that received no payout was increasing” - saying the dynamic started “probably 18 months to a year ago” but has recently accelerated: “when I was leaving, quite a few...and quite a few now.” He stated that on his team, 3 out of 7 reps won’t get paid, stating it’s now a “mature product” and “quotas got way too high” – “all the low hanging fruit is gone.”",
      "attrs": null,
      "subkind": "paragraph",
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "1e825fc9-193d-48ba-bc77-95cd02dd55c1",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": null,
      "kind": "quote",
      "text": "“Yeah, it was definitely slowing down. The way you could gauge that would be the pressure that was applied from above, the flattening out of the trend...definitely, there was a flattening, which would be expected, but the company and the powers that be did not want to hear it.” — Ex-Harmony territory manager",
      "attrs": null,
      "subkind": null,
      "toolName": "Authority citation",
      "toolSlug": "authority-citation",
      "confidence": null,
      "componentId": "019dd953-64d1-73a9-abc1-c415ccf2bfa4",
      "frameworkName": null,
      "frameworkSlug": null
    },
    {
      "bbox": {
        "h": 0.03,
        "w": 0.3,
        "x": 0.07,
        "y": 0.95
      },
      "kind": "source-note",
      "text": "Source: Scorpion Capital consultation calls with experts",
      "attrs": null,
      "subkind": null,
      "toolName": null,
      "toolSlug": null,
      "confidence": null,
      "componentId": "5d35bd2e-f5cc-4226-9c02-1edafd4f9476",
      "frameworkName": null,
      "frameworkSlug": null
    }
  ],
  "metrics": [],
  "tools": [],
  "frameworks": [],
  "arcBeats": [],
  "loops": [],
  "imagePathAlt": null,
  "thumbSrc": null,
  "thumbSrcAlt": null,
  "locked": true
}