Harrow Health Inc Stock Price, News & Analysis

Harrow Health, Inc. (NASDAQ: HROW) announced two newly issued patents related to ophthalmic compositions for intraocular administration. These patents, dated May 4 and June 29, 2021, enhance Harrow's portfolio in surgical dilation agents, particularly for cataract surgeries. Data regarding a compounded mydriatic drug combination will be presented at the ASCRS 2021 Annual Meeting, demonstrating effective pupil dilation. This advancement positions Harrow Health for growth within the ophthalmic market, supporting over 250,000 cataract procedures annually.

Harrow Health (NASDAQ: HROW) announced the closure of its public offering, raising $20 million through the issuance of 8.625% senior notes due 2026. This includes a $2.5 million over-allotment option. The net proceeds of approximately $19.6 million will be used to redeem Series B Cumulative Preferred Stock and for general corporate purposes, including future product acquisitions. The notes, rated "BB" by Egan-Jones Ratings, will trade on Nasdaq under the symbol 'HROWL'.

Harrow Health (NASDAQ: HROW) has priced its underwritten public offering of $17.5 million in 8.625% senior notes due 2026. The offering, expected to close on June 17, 2021, may increase by $2.5 million if the underwriters exercise their option. The notes will be priced at $25.75 each, yielding aggregate proceeds of $18,025,000. Proceeds will be utilized to redeem Series B Cumulative Preferred Stock and support general corporate purposes. Both the new and existing notes are rated 'BB' by Egan-Jones Ratings Company and will trade on Nasdaq under the symbol 'HROWL'.

Harrow Health (NASDAQ: HROW) has initiated an underwritten registered public offering of $17.5 million in 8.625% senior notes due 2026. These notes will trade alongside the existing notes of the same series. The proceeds are intended to redeem all outstanding Series B Cumulative Preferred Stock and for general corporate purposes, including product acquisitions and capital expenditures. Harrow Health's notes received a 'BB' rating from Egan-Jones Ratings Company. The offering will be conducted under the effective shelf registration statement filed with the SEC.

Harrow Health (NASDAQ: HROW), an ophthalmic-focused healthcare company, has launched a redesigned corporate and investor website aimed at enhancing user experience and accessibility of historical and current information. The site showcases Harrow's journey as a leading eye health provider, featuring its mission, product pipeline, and commitment to accessible eyecare. Key assets include ImprimisRx and Visionology, along with equity stakes in several pharmaceutical companies. The site also includes Letters to Stockholders and a Corporate Presentation to facilitate investor engagement.

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.