Harrow, Inc. filings document an ophthalmic pharmaceutical business built around branded products and ImprimisRx, including operating results, stockholder communications and Regulation FD presentations tied to its U.S. commercialization strategy. Current reports disclose material events such as product and business updates, executive appointments and compensation arrangements, the completed Melt Pharmaceuticals acquisition, and capital-structure matters involving senior unsecured notes due 2030.
Proxy materials cover shareholder voting matters, board governance and executive compensation. The filing record also includes disclosures on material agreements, risk-related cautionary statements, and clinical or regulatory topics connected to Harrow's ophthalmic product portfolio.
Harrow, Inc. outlines its position as a North American leader in ophthalmic disease management, combining branded pharmaceuticals with its ImprimisRx compounding business. The company markets numerous FDA-approved eye products and is building a late-stage pipeline, highlighted by MELT-300 for non‑IV, non‑opioid sublingual procedural sedation.
MELT-300 has completed Phase 3 under a Special Protocol Assessment, with an NDA planned for the first half of 2027 and a targeted U.S. launch in the second half of 2028. Harrow also plans mid‑2026 and mid‑2027 launches for BYOOVIZ and OPUVIZ biosimilars and BYQLOVI for post‑operative inflammation.
In November 2025, Harrow acquired the remaining equity of Melt Pharmaceuticals for an initial $4.3 million cash payment plus potential milestone-based cash and equity tied to MELT‑300 approval, reimbursement, and sales. Research and development expenses rose to $20.94 million in 2025 from $12.23 million in 2024 and $6.652 million in 2023, reflecting increased investment in pipeline assets and the Melt acquisition.
The company reports two segments—Branded and ImprimisRx—both U.S.-based, and had 373 employees as of February 25, 2026. Harrow emphasizes regulatory and reimbursement complexity, competition from larger pharmaceutical and biosimilar players, and evolving federal and state pharmacy rules, especially around its 503A/503B compounding facilities, as key risks to growth and profitability.
Harrow, Inc. reported strong growth for Q4 and full-year 2025 and issued 2026 guidance. Quarterly revenue reached $89.1 million, up 33% from $66.8 million, while full-year revenue rose 36% to $272.3 million from $199.6 million. Q4 GAAP net income was $6.6 million, though the company posted a $5.1 million net loss for 2025. Adjusted EBITDA grew to $24.2 million in Q4 and $61.9 million for the year. Operating cash flow swung to a positive $43.9 million in 2025 from $(22.2) million in 2024, and cash and cash equivalents were $72.9 million at year-end. Management highlighted strong momentum in key ophthalmic brands VEVYE, IHEEZO and TRIESENCE and outlined plans to expand sales teams and invest in growth initiatives. For 2026, Harrow guides to $350–$365 million in revenue and $80–$100 million in Adjusted EBITDA, with results expected to be more heavily weighted to the second half of the year.
Harrow, Inc.’s chief commercial officer, Patrick William Sullivan, received two new restricted stock unit awards. On 01/30/2026 he was granted 25,000 RSUs and 15,000 RSUs under the company’s 2025 Incentive and Awards Plan, each RSU representing one share of Harrow common stock upon vesting.
The 25,000 RSUs have a five-year term and vest only if Harrow’s revenue reaches $230,000,000 in a single calendar quarterly period, tying this award directly to a significant revenue milestone. The 15,000 RSUs will vest in full three years after the grant date, on 01/30/2029, providing longer-term equity-based compensation. Both awards are held directly by Sullivan.
Harrow, Inc. filed a Form 3 for Chief Commercial Officer Patrick William Sullivan, reporting a stock option over 30,000 shares of common stock. The option has an exercise price of $39 per share and expires on September 1, 2035.
According to the vesting schedule, 25% of the option shares vest on the one-year anniversary of the grant date. The remaining shares vest in 12 equal quarterly installments over the following three years, becoming fully vested and exercisable on September 1, 2029. The option is held directly.
Harrow, Inc. filed an update covering its outlook and leadership team. The company reaffirmed its full-year 2025 revenue guidance in a range of $270 million to $280 million, signaling no change to its previously communicated expectations.
Harrow also appointed Patrick W. Sullivan as Chief Commercial Officer, effective January 30, 2026. He brings more than 25 years of commercial leadership experience from roles at Corium Therapeutics, AstraZeneca, Shire, Adolor, Novartis, and Bayer. Under his offer letter, Sullivan will receive a $425,000 annual base salary, a target annual bonus equal to 40% of base compensation, and 40,000 restricted stock units. Of these, 25,000 RSUs vest if Harrow’s revenue reaches $230,000,000 in a calendar quarterly period, and 15,000 RSUs vest three years from the award date.
Harrow, Inc. insider Opaleye Management Inc., a 10% owner, reported an indirect sale of Harrow common stock. On January 6, 2026, a separately managed account for which Opaleye acts as portfolio manager sold 20,000 shares of common stock at a weighted average price of $53.3457 per share. After this transaction, the managed account held 70,000 shares indirectly attributed to Opaleye. Separately, 3,815,000 shares were reported as owned by Opaleye, L.P., for which Opaleye Management Inc. is the investment manager. Opaleye Management Inc. states it may be deemed a beneficial owner through these roles but disclaims beneficial ownership beyond its pecuniary interest.
Harrow, Inc. reported that its president and CFO, Andrew R. Boll, exercised 60,000 stock options on 12/12/2025 at an exercise price of $3.95 per share, receiving the same number of common shares.
The options were originally granted on April 1, 2016 under the company’s 2007 Stock Incentive and Awards Plan and vested quarterly over three years. In connection with the exercise, 26,665 shares were withheld to cover the exercise price and tax liability, and the filing states this withholding did not involve any market sales or other market transactions. After these transactions, Boll beneficially owns 811,179 shares of Harrow common stock directly.
Harrow, Inc.'s chief executive officer and director Mark L. Baum reported exercising stock options for 180,000 shares of common stock at $3.95 per share.
After this option exercise and the withholding of 79,994 shares to satisfy the exercise price and tax obligations, he directly owns 2,986,130 shares of Harrow common stock. The company notes that the share withholding did not involve any market sales or other market transactions.
Harrow, Inc. reported that it has completed the acquisition of Melt Pharmaceuticals, Inc. on November 17, 2025 under a previously announced merger agreement. At closing, Harrow paid approximately $4.3 million in cash as initial consideration for the remaining equity interests of Melt, and the contingent regulatory and commercial milestone payments previously outlined remain in place. The company notes that any potential future issuance of its common stock related to this acquisition would rely on an exemption from registration under Section 4(a)(2) of the Securities Act. Harrow also issued a press release on November 18, 2025 announcing the closing of the Melt acquisition.
Harrow, Inc. (HROW) reported Q3 2025 results, showing strong top-line growth and a swing to profitability for the quarter while executing a major refinancing. Revenue rose to $71.6 million from $49.3 million a year ago, driven mainly by product sales of $71.5 million. Gross profit reached $53.9 million. Operating income was $14.7 million, and net income was $1.0 million (diluted EPS $0.03) versus a prior-year loss.
Year to date, Harrow recorded a net loss of $11.8 million, reflecting higher interest expense and a $7.8 million loss on extinguishment of debt tied to balance sheet changes. The company issued $250.0 million of 8.625% senior notes due 2030 and repaid its Oaktree Loan and 2026/2027 notes in September. Cash and cash equivalents were $74.3 million at quarter end, supported by $35.5 million net cash provided by operating activities for the first nine months of 2025. Shares outstanding were 37,037,453 as of November 10, 2025.