Welcome to our dedicated page for Harrow Health news (Ticker: HROW), a resource for investors and traders seeking the latest updates and insights on Harrow Health stock.
Company Overview
Harrow Health Inc (HROW) is an innovative eyecare pharmaceutical company focused on addressing unmet medical needs through the discovery, development, production, and commercialization of specialized ophthalmic formulations and therapeutic products across the United States. Operating at the intersection of advanced research and clinical application, the company brings together deep industry expertise, rigorous R&D, and a commitment to improving patient care.
Business Model and Operations
At its core, Harrow Health provides a comprehensive portfolio that blends ophthalmology-based drug development with non-intravenous sedation and anesthesia therapeutics for a variety of medical procedures. Its operations are structured around:
- Ophthalmic Therapeutics: Focusing on the management of ocular surface diseases, the company develops topical eye drop formulations that serve both preventative and therapeutic roles.
- Compounded Medications: Offering both sterile and non-sterile formulations, it meets the needs of physicians seeking tailored solutions for diverse clinical scenarios.
- Non-Intravenous Sedation: Developing products designed to facilitate conscious sedation during procedures such as cataract surgery, thereby enhancing patient comfort and procedural efficiency.
This multi-pronged approach not only diversifies its product portfolio but also creates a resilient business model that appeals to healthcare professionals and institutions across outpatient, in-office, and hospital settings.
Market Position and Competitive Landscape
Harrow Health Inc has carved a niche within the highly regulated US pharmaceutical market. Its strategic focus on ocular and sedation therapeutics differentiates it from broader scale pharmaceutical companies, while its commitment to advanced research and quality production standards reinforces its reputation among eyecare professionals. In a competitive landscape where precision and safety are paramount, Harrow Health’s integration of clinical insights with innovative drug formulations positions it as a noteworthy player devoted to addressing specific medical challenges effectively.
Product Portfolio and Therapeutic Solutions
The company has developed an extensive range of products that address conditions related to the ocular surface and procedural sedation. Its portfolio includes:
- Topical Ophthalmic Formulations: Designed to manage diseases affecting the ocular surface and support rehabilitation of vision-related functions.
- Compounded Medications: Both sterile and non-sterile, these are tailored to meet precise medical requirements across various treatment settings.
- Sedation Therapeutics: Products intended for sublingual administration provide non-intravenous sedation, enabling safe and effective patient management during surgical procedures.
Research, Development, and Quality Assurance
The foundation of Harrow Health Inc’s operations lies in robust research and development. The company continually refines its product offerings through comprehensive clinical research and adherence to stringent quality assurance protocols. Its approach underscores a commitment to safety and efficacy while addressing the evolving needs of healthcare providers and patients. This rigorous scientific methodology exemplifies the company’s dedication to maintaining high standards of regulatory compliance and industry best practices.
Commitment to Scientific Integrity and Patient Care
Across its diverse operations, Harrow Health demonstrates a sustained commitment to improving patient outcomes. The company’s emphasis on continuous innovation, strategic R&D, and quality-focused manufacturing processes helps ensure that its pharmaceutical solutions not only meet but often exceed industry benchmarks. This dedication to scientific integrity and patient well-being has established Harrow Health as a trusted entity within the field of eyecare therapeutics.
Strategic Value Proposition
Harrow Health Inc’s value proposition is rooted in its specialized expertise in ophthalmic formulations and sedation therapies. By addressing critical gaps in current medical treatments, the company supports healthcare providers in delivering effective and accessible care. Its balanced focus on innovation, quality, and clinical relevance positions it as a vital contributor to the pharmaceutical landscape, particularly within the realms of eye care and procedural sedation.
Overall, Harrow Health Inc exemplifies a dedicated, research-driven approach to pharmaceutical development that leverages deep industry expertise to meet unmet medical needs. Through its integrated operations and commitment to quality, it remains a significant, unbiased source of therapeutic solutions for healthcare professionals nationwide.
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.
Harrow Health, Inc. (NASDAQ: HROW) announced participation in the H.C. Wainwright Global Life Sciences Conference on March 9-10, 2021. CEO Mark Baum and CFO Andrew Boll will engage in a virtual presentation available on the company's investor relations site starting March 9, 2021, at 7:00 a.m. ET, archived for 90 days. The management team will also hold one-on-one meetings via H.C. Wainwright. Harrow Health specializes in ophthalmic healthcare and owns ImprimisRx, a leader in ophthalmology outsourcing and pharmaceutical compounding.
FAQ
What is the current stock price of Harrow Health (HROW)?
What is the market cap of Harrow Health (HROW)?
What is Harrow Health Inc's primary focus?
What types of products does the company offer?
How does Harrow Health Inc generate revenue?
What differentiates Harrow Health from its competitors?
In which market does Harrow Health primarily operate?
What role does research and development play in the company?
How does the company support clinical practices?
Can you explain the company’s approach to quality assurance?
