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.
Harrow Health Inc (HROW) is a leading developer of ophthalmic pharmaceuticals and non-intravenous sedation therapies, addressing critical needs in eyecare and procedural medicine. This dedicated news hub provides investors and healthcare professionals with timely access to official announcements and objective updates about the company's progress.
Our curated collection features earnings reports, regulatory milestones, and product development updates, offering a comprehensive view of HROW's strategic direction. Users will find essential information on FDA approvals, clinical trial results, and partnership announcements that shape the company's position in the pharmaceutical sector.
Key content categories include financial disclosures, research breakthroughs, and manufacturing updates related to compounded medications and sedation therapeutics. All materials are sourced from verified channels to ensure accuracy and relevance for decision-makers.
Bookmark this page for streamlined access to HROW's latest developments. Check back regularly for authoritative updates on innovations in ocular surface disease treatments and non-IV sedation solutions that demonstrate the company's commitment to advancing patient care.
Harrow (Nasdaq: HROW), a U.S. eyecare pharmaceutical company, will release its financial results for Q1 2023 on May 11, 2023, after market close. The results will be accompanied by a Letter to Stockholders available on their website, harrow.com. A conference call is scheduled for the same day at 4:45 p.m. Eastern Time, where the company will discuss the financial results and provide a business update. Investors can participate via the provided U.S. and international dial-in numbers, and a replay will be available through May 18, 2023. Harrow is focused on developing affordable ophthalmic prescription therapies and owns U.S. commercial rights to ten FDA-approved products, along with operating ImprimisRx, a leading ophthalmic compounding business.
B. Riley Financial, Inc. (NASDAQ: RILY) announced it led financing for Harrow Health, Inc. (NASDAQ: HROW) to support its acquisition of exclusive commercial rights to five FDA-approved ophthalmic products. The financing included $59.75 million in debt provided in January 2023 and a fully backstopped $125 million commitment. The loan was fully repaid on March 27, 2023, coinciding with Harrow's new $100 million credit facility. B. Riley also managed Harrow's equity and senior notes offerings in December 2022, raising $65.25 million. Harrow aims to enhance its position in the U.S. ophthalmic pharmaceuticals market through this acquisition.
Harrow (Nasdaq: HROW) announced a $100 million secured credit financing agreement with Oaktree Capital Management, designed to enhance its financial flexibility. The facility has an interest rate of SOFR plus 6.50% and will mature in approximately three years. Part of the proceeds will pay off existing debts, with the remaining funds allocated for milestone payments linked to a recent acquisition and general corporate uses. CEO Mark L. Baum expressed optimism about this credit facility, stating it strengthens the balance sheet and aligns with Harrow’s growth strategy, while Oaktree’s Managing Director highlighted the partnership during a critical transformation phase for Harrow.
Harrow reported full-year 2022 revenues of $88.6 million, a 22% increase from $72.5 million in 2021. The company divested non-ophthalmic assets, becoming a pure-play ophthalmic pharmaceutical firm. Key developments included FDA approval for IHEEZO™ and the issuance of a Permanent J-Code (J2403), which facilitates reimbursement for ophthalmologists. Additionally, Harrow acquired U.S. rights to several branded products and launched new compounded formulations. Despite a net income loss of $14.1 million, adjusted EBITDA rose to $13 million, reflecting improved operational performance.
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