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Overview of Harrow Health Inc.
Harrow Health Inc. (NASDAQ: HROW) is a U.S.-based pharmaceutical company specializing in the development, production, and commercialization of medications that address unmet medical needs. The company’s primary focus lies in ophthalmology, where it provides a comprehensive range of sterile and non-sterile compounded medications, as well as innovative therapeutics for ocular surface diseases and conscious sedation solutions. By targeting specific, often underserved medical needs, Harrow Health plays a critical role in advancing eye care and improving patient outcomes.
Core Business Areas
Harrow Health’s business model is centered on the development and distribution of specialized pharmaceutical products. Its portfolio includes:
- Ophthalmology-Based Formulations: The company offers a variety of compounded medications and topical eye drop drug candidates designed to treat conditions such as dry eye disease (DED) and other ocular surface pathologies.
- Therapeutics for Ocular Surface Diseases: Products like Klarity Drops and oral capsules such as SURF-300 aim to protect and rehabilitate the ocular surface, addressing both the signs and symptoms of DED.
- Sedation and Anesthesia Solutions: Harrow Health develops non-intravenous sedation and anesthesia therapeutics, such as MELT-100, which is administered sublingually for conscious sedation during procedures like cataract surgery.
This diversified portfolio reflects the company’s commitment to addressing complex medical needs through specialized pharmaceutical solutions.
Market Position and Differentiation
Harrow Health operates within the highly specialized ophthalmology segment of the pharmaceutical industry. Its focus on compounded medications and targeted therapeutics allows it to serve niche markets that are often overlooked by larger pharmaceutical companies. By prioritizing accessibility and affordability, Harrow Health ensures that its products reach a broad spectrum of patients and healthcare providers. This approach not only strengthens its market position but also differentiates it from competitors with more generalized portfolios.
Revenue Model and Distribution
The company generates revenue through direct sales to healthcare providers and patients, leveraging a vertically integrated model that encompasses development, production, and distribution. This streamlined approach enables Harrow Health to maintain control over quality and cost, further enhancing its value proposition. Its distribution channels are tailored to meet the needs of U.S.-based eyecare professionals, ensuring timely and efficient delivery of its products.
Challenges and Opportunities
Operating in the pharmaceutical industry, Harrow Health faces challenges such as stringent regulatory requirements, the need for continuous innovation, and competition from both specialized and general pharmaceutical firms. However, its focus on underserved medical needs and its expertise in ophthalmology provide significant opportunities for growth and market penetration. By addressing these challenges effectively, the company is well-positioned to maintain its role as a key player in the ophthalmology sector.
Conclusion
Harrow Health Inc. stands out as a specialized pharmaceutical company dedicated to advancing eye care through innovative and accessible solutions. Its focus on ophthalmology, coupled with a robust portfolio of medications and therapeutics, underscores its commitment to addressing unmet medical needs. By leveraging its expertise and maintaining a patient-centric approach, Harrow Health continues to play a vital role in the U.S. healthcare landscape.
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.
Harrow Health, Inc. (Nasdaq: HROW) will release its financial results for Q2 ended
Harrow Health, Inc. (NASDAQ: HROW) has successfully transferred the New Drug Applications (NDAs) for three FDA-approved ophthalmic medicines: IOPIDINE® 1%, MAXITROL® 3.5mg/10,000 units/0.1%, and MOXEZA® 0.5%. Both IOPIDINE 1% and MAXITROL are now commercially available, with MOXEZA set for later release. This move follows their acquisition of these products in December 2021, during which Harrow began receiving net profits from sales. CEO Mark L. Baum expressed optimism about market interest and plans for commercial strategies targeting healthcare professionals and payers.
Harrow Health (NASDAQ: HROW) reported a record revenue of $22.1 million for Q1 2022, marking a 43% increase from $15.4 million in Q1 2021. The gross profit reached $16.2 million, up 38% year-over-year. A total of 689,000 product units were shipped, a 72% increase from the prior year. Despite a net loss of $2.4 million, the company anticipates a strong year driven by organic growth and plans for AMP-100's FDA review on October 16, 2022. Cash and equivalents stood at $42 million as of March 31, 2022.
Melt Pharmaceuticals announced favorable top-line results from its phase 1 PK study of MELT-210, a 3 mg sublingual midazolam tablet. The study involving 23 patients compared MELT-210 with IV midazolam and achieved concentration goals. CEO Larry Dillaha expressed optimism about the results, viewing it as a milestone for an IV-free sedation option. The next step includes discussions with the FDA regarding further clinical development. MELT-210 utilizes Catalent's proprietary Zydis® technology, with no FDA-approved equivalent products.
NASHVILLE, Tenn.--(BUSINESS WIRE)--Harrow Health, Inc. (NASDAQ: HROW) announced participation in B. Riley Securities' Annual Neuro & Ophthalmology Investor Conference. CEO Mark L. Baum and CFO Andrew Boll will present virtually on April 27, 2022, at 2:00 p.m. ET. A live webcast will be accessible on Harrow's website, with a replay available post-event. Harrow Health focuses on ophthalmic healthcare, owning ImprimisRx and Visionology, and holds equity in Eton Pharmaceuticals, Surface Ophthalmics, and Melt Pharmaceuticals.
Harrow Health, Inc. (Nasdaq: HROW) will release its financial results for Q1 2022 on May 5, 2022, post market close. The company, which focuses on ophthalmic healthcare, will also host a conference call at 4:45 PM ET to discuss the results and provide a business update. A webcast will be available for replay until August 5, 2022. Details of the event, including participation dial-ins and replay options, can be found on their website. This update is pertinent for investors and stakeholders tracking financial performance and corporate developments.
Harrow Health, Inc. (HROW) has appointed Perry J. Sternberg and Dr. Marty Makary to its Board of Directors, effective immediately, while Robert J. Kammer has resigned. Sternberg brings extensive commercial experience from leading eye care companies, and his expertise in strategic marketing is expected to aid in launching new FDA-approved products like AMP-100. Dr. Makary, with a strong background in healthcare policy and innovation, aligns with the company's mission of making medicines accessible. This restructuring aims to strengthen governance and support Harrow's goal of becoming a leading U.S. eye care company.
Harrow Health, Inc. (NASDAQ: HROW) reported record revenues of $20.2 million for Q4 2021, marking a 38% increase year-over-year. Gross profit also reached $15.1 million, a 42% rise, with a gross margin of 75%. The FDA accepted the NDA for AMP-100 with a PDUFA target date of October 16, 2022. Commissions from DEXYCU® sales hit $1.0 million, driven by record unit volumes. The company ended 2021 with $42.2 million in cash and equivalents, providing a strong foundation for future growth.
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