Harrow, Inc. - HROW STOCK NEWS

Harrow (NASDAQ: HROW) reported third-quarter 2022 revenues of $22.8 million, a 22% increase from $18.7 million in Q3 2021. The company achieved FDA approval for IHEEZO™ and launched Fortisite™, a new line of antibiotics. With a cash reserve of $45 million and a backlog of nearly $1 million, Harrow is focusing on its ophthalmic products. Despite a net loss of $6.5 million, adjusted EBITDA reached $2.5 million, indicating operational progress. CEO Mark Baum highlighted the company's strategic shift towards being a pure-play ophthalmic pharmaceutical entity.

Harrow (Nasdaq: HROW) has launched a nationwide availability of compounded atropine formulations through atropine.com. This new platform addresses the demand for consistent, reliable compounded atropine, with products available in concentrations of 0.01%, 0.025%, and 0.05% priced from $39 per bottle. Harrow aims to enhance product stability and potency through strict testing and is developing a patent-pending line free from preservatives. Healthcare professionals can order through the ImprimisRx pharmacy, ensuring access to tailored medications for unmet clinical needs.

Harrow (Nasdaq: HROW) will announce its third-quarter financial results for the period ending September 30, 2022, on November 14, 2022, after market close. A conference call will follow at 4:45 p.m. Eastern Time to discuss the results and company updates. Investors can access related materials through Harrow's website. The company is dedicated to developing innovative, affordable ophthalmic therapies.

Melt Pharmaceuticals has successfully dosed the last patient in its Phase 2 pivotal study for MELT-300, a novel sublingual formulation for procedural sedation in cataract surgery. Over 330 subjects participated in this randomized, double-blind study, comparing MELT-300 against placebo and individual components. Top-line results are expected by year-end, marking a critical advancement in providing opioid-free sedation. If successful, Melt plans to engage with the FDA regarding the next steps for MELT-300.

Harrow (Nasdaq: HROW) has announced the sale of its non‑ophthalmic compounding business to Innovation Compounding Pharmacy, LLC, part of Revelation Pharma Corporation. This strategic move aligns with Harrow's goal to focus exclusively on ophthalmic therapies. The sale encompasses various assets, excluding a production facility, while Revelation will hire Harrow employees involved in this area. The transition support from Harrow will last approximately three months. This decision aims to enhance Harrow's core competencies as it approaches multiple significant milestones, including upcoming product launches.

ImprimisRx, America’s leading Ophthalmic Pharmacy™, has launched Fortisite™, a compounded topical antibiotic formulated with Tobramycin 1.5% and Vancomycin 5%. This unique formulation is stable at refrigerated temperatures for up to 180 days and aims to meet unmet clinical needs. Available through the ImprimisRx 503A pharmacy now, it will soon be accessible via the FDA-registered 503B outsourcing facility. A Patient Access Program and a 100% replacement guarantee for expired products further enhance accessibility for eyecare professionals.

IHEEZO™ (chloroprocaine hydrochloride ophthalmic gel) has received FDA approval, marking the first branded ocular anesthetic in the U.S. in nearly 14 years. Licensed by Harrow from Sintetica, IHEEZO is designed for ocular surface anesthesia and boasts a patent protecting it until 2038. Its clinical studies showed rapid action and effective anesthesia for cataract surgeries, without the need for supplemental treatments. With an estimated 4.5 million cataract surgeries annually in the U.S., Harrow aims for an accelerated commercial launch, enhancing its market presence in the ophthalmic sector.

Harrow Health, Inc. (Nasdaq: HROW), a pharmaceutical company specializing in eyecare, announced participation in the H.C. Wainwright 2nd Annual Ophthalmology Virtual Conference on August 17, 2022. CEO Mark L. Baum and CFO Andrew Boll will represent the company. A pre-recorded presentation will be available on Harrow's investor relations webpage starting at 7:00 a.m. ET on that date and archived for 90 days. Additionally, management will engage in one-on-one meetings during the conference, which interested investors can request through H.C. Wainwright.

Harrow Health, Inc. (NASDAQ: HROW) reported record revenues of $23.3 million for Q2 2022, a 29% increase from $18.1 million the previous year. The gross profit also hit a record at $16.8 million, a 22% rise from $13.7 million year-over-year. The company shipped 718,000 product units, which is a 4% year-over-year increase. However, Harrow reported a net loss of $6.2 million compared to $3 million last year. Cash and cash equivalents stood at $46.4 million as of June 30, 2022, as the company looks forward to key events in the second half of the year.