Harrow Health Inc Stock Price, News & Analysis

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.

Harrow Health, Inc. (NASDAQ: HROW) announced it will release its fourth quarter and annual financial results for the year ending December 31, 2020, on March 8, 2021, after the market close. The financial results will be available on their website, and a conference call will occur at 4:45 p.m. ET to discuss the outcomes and present a business update. Harrow Health specializes in ophthalmic healthcare and owns ImprimisRx, a leading ophthalmology outsourcing business.

Melt Pharmaceuticals announced positive results from its Phase 1 MELT study, which evaluated the pharmacokinetic parameters of its novel midazolam and ketamine formulation. The study met its objectives, demonstrating good tolerance and relative bioavailability. The company plans to meet with the FDA to finalize its clinical protocol and commence a Phase 2 study in the third quarter of 2021, targeting cataract surgery patients. If approved, this non-opioid and IV-free option could significantly change pain management during surgeries.

Harrow Health (NASDAQ: HROW) announced a study published in the AANA Journal demonstrating the effectiveness of its MKO Melt® troche as a non-opioid alternative for IV sedation in cataract surgeries. The study involved 107 patients, comparing MKO Melt to traditional sedation methods. Findings indicated comparable comfort levels between both sedation methods, promoting MKO Melt for patients, especially those with needle-phobia. The MKO Melt has been used in over 250,000 cataract surgeries and is available for purchase through ImprimisRx.

Harrow Health (NASDAQ: HROW) will participate in the Piper Sandler 32nd Annual Virtual Healthcare Conference from December 1-3, 2020. CEO Mark Baum and CFO Andrew Boll will present a corporate overview, with the management team available for one-on-one meetings. The pre-recorded presentation will be accessible to registered attendees from November 23 until December 3. Additionally, a replay of the conference presentation will be available for approximately 90 days on Harrow’s website.