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Harrow Health, Inc. (NASDAQ: HROW) is a leading eyecare pharmaceutical company dedicated to developing, producing, and distributing medications that address unmet medical needs, primarily within the United States. The company’s core business revolves around the creation of ophthalmology-based formulations, providing both sterile and non-sterile compounded medications to physicians and patients.
Harrow Inc. is at the forefront of innovative therapeutics, focusing on the treatment of ocular surface diseases. The firm's product portfolio includes prominent drug candidates such as SURF-100 and SURF-200, which are topical eye drops; SURF-300, an oral capsule aimed at treating ocular surface diseases and dry eye disease (DED) symptoms; and Klarity drops, designed for the protection and rehabilitation of ocular surface pathology in DED patients.
Additionally, Harrow, Inc. is known for its non-intravenous sedation and anesthesia products for various medical procedures. MELT-100, for instance, is a sublingual drug facilitating conscious sedation during cataract surgery, and MAY-66 is utilized for alleviating symptoms associated with Peyronie’s disease.
Harrow Health's commitment goes beyond innovation; it strives to improve accessibility and affordability of eyecare pharmaceuticals for millions of Americans. Through strategic partnerships and ongoing projects, Harrow, Inc. continues to enhance its capabilities in the eyecare sector, firmly positioning itself as a trusted name among U.S. eyecare professionals.
Stay updated with the latest developments, financial reports, and news on Harrow, Inc. to understand how this company is shaping the future of ophthalmic care.
Harrow Health, Inc. (NASDAQ: HROW) announced a multi-center retrospective study demonstrating significant improvements in patients with dry eye disease using its Klarity-C Drops® (cyclosporine 0.1%). Published in Clinical Ophthalmology, the study involved 50 patients and showed a marked decrease in ocular surface disease index (OSDI) scores and corneal staining grades after three months of treatment. The study highlighted no adverse events and emphasized Klarity-C's advantages over existing treatments, including its affordability and lack of insurance hurdles.
Harrow Health reported record first-quarter 2021 results, achieving revenues of $15.4 million, up 31% from $11.8 million year-over-year. Adjusted EBITDA reached $4.3 million, significantly higher than the previous year's $0.4 million. Segment contribution from ImprimisRx rose to $5.7 million, while DEXYCU® sales commissions increased 39% over Q4 2020, totaling $485,000. GAAP operating income improved to $2.9 million from an operating loss of $0.6 million, and gross margins increased to 75.6%, compared to 69% last year.
Harrow Health (NASDAQ: HROW) announced the completion of a private sale of 440,000 shares of Series B Cumulative Preferred Stock, raising approximately $10.67 million. The funds will support general corporate purposes, including strategic product acquisitions and working capital. CEO Mark L. Baum highlighted that this transaction, along with previous fund raises totaling over $75 million in 2021, strengthens the company’s financial position for pursuing FDA-approved ophthalmic drug candidates. Harrow's focus remains on growth in the ophthalmic healthcare sector.
Harrow Health, Inc. (NASDAQ: HROW) announced the closing of an additional $5 million in 8.625% senior notes due 2026, following the exercise of the underwriters’ option from a previous $50 million offering. The total gross proceeds from this issuance amount to $55 million before fees. The additional notes will trade under the symbol HROWL. Funds will be allocated for general corporate purposes, including product acquisitions and capital expenditures. Both the notes and additional notes received a 'BB' rating from Egan-Jones Ratings Company.
Harrow Health, Inc. (NASDAQ: HROW) will announce its Q1 2021 financial results on May 11, 2021, after market close. The company specializes in ophthalmology and will provide a business update during a conference call at 4:45 p.m. ET on the same day. Investors can access the call details and results on the company’s website. Harrow Health owns ImprimisRx and Visionology, and holds substantial equity in Eton Pharmaceuticals and others. For more details, visit harrowinc.com.
Harrow Health (NASDAQ: HROW) has successfully closed a public offering of $50 million in senior notes, yielding approximately $48 million in net proceeds. The 8.625% senior notes, due in 2026, are set to trade on Nasdaq under the symbol 'HROWL'. Funds will primarily be used to repay $15.5 million of existing debt, with remaining proceeds allocated for general corporate purposes, including strategic acquisitions and working capital. The offering was rated 'BB' by Egan-Jones Ratings Company, enhancing investor confidence.
Harrow Health, an ophthalmic healthcare company, announced a public offering of $50 million in senior notes with an interest rate of 8.625%, due in 2026. The offering is expected to close on April 20, 2021, with a potential additional $5 million from underwriters. Proceeds will be used to repay $15.5 million in existing borrowings and fund general corporate purposes, including strategic acquisitions. The notes, rated 'BB,' will be listed on Nasdaq under the symbol 'HROWL.' The offering follows the company's SEC-approved shelf registration statement.
Harrow Health, Inc. (NASDAQ: HROW) has launched a public offering of $25 million in senior notes due 2026, pending market conditions. The notes received a "BB" rating from Egan-Jones Ratings Company. Proceeds are intended to repay $15.5 million of outstanding borrowings under a term loan and for general corporate purposes including strategic acquisitions and working capital. The offering is made under an effective SEC registration statement. B. Riley Securities and others are managing the offering.
Harrow Health, Inc. (NASDAQ: HROW) reported preliminary unaudited financial results for Q1 2021, estimating total revenue between $14.9 million and $15.5 million with an Adjusted EBITDA exceeding $2.7 million. As of March 31, 2021, the company had approximately $6.5 million in cash and cash equivalents, which increased by $10.6 million from the sale of shares in Eton Pharmaceuticals. The final results will be announced on May 11, 2021.
Harrow Health (NASDAQ: HROW) reported a strong fourth quarter of 2020 with revenues of $14.6 million, marking a 16% increase from $12.6 million in the previous year. Adjusted EBITDA hit a record $4.0 million, up from $2.1 million year-over-year. Operating income rose to $2.6 million compared to $0.9 million in Q4 2019, while gross margins remained stable at 73%. The increase in revenue was attributed in part to $349,000 in Dexycu® commissions. CEO Mark L. Baum noted the company's resilience amid challenges and expressed optimism about future growth.
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