Harrow Health is a specialty drugmaker focused on eye care, selling compounded ophthalmic medicines and the post-surgery inflammation treatment DEXYCU, while holding stakes in other pharma firms. Think of it as a niche pharmacy that also plays venture capitali
Revenue comes from selling its ophthalmic products, with gross margins around 73% and annual sales of USD 0.27B. The business is barely profitable, with a net loss of USD 0.01B in 2025, though it has shown positive net income in recent quarters.
Harrow's compounding pharmacy and DEXYCU face competition from larger players like AbbVie and Novartis, but its specialized focus and regulatory barriers provide some protection. However, the moat is eroding as big pharma's scale in eye care and potential gene
Key events, in time order
Two independent sources confirm IHEEZO's superiority over standard anesthetic in intravitreal injections, boosting product outlook.
Q2 revenue up 11% YoY and ~60% QoQ, but EPS loss of $0.34 wider than expected; company cites strong H2 start
First FDA-approved nasal spray for dry eye; terms attractive, strategic rationale pending
Two separate press releases confirm Harrow's clinical presentations at ASRS 2026, covering key products IHEEZO and BYOOVIZ (SB11)
VERKAZIA (cyclosporine emulsion 0.1%) targets VKC, a rare allergic eye disease in children
CEO bought 10k shares (~$302K), CFO 3.5k (~$104.7K) per filings
Multiple banks updated PTs post-earnings, some cuts with Buy reiterations, showing continued divergence
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