Harrow, Inc. (NASDAQ: HROW)

Harrow, Inc. is a leading provider of ophthalmic disease management solutions in North America. The company develops, acquires, and markets FDA-approved ophthalmic pharmaceuticals and operates a compounding pharmacy business to address conditions such as dry eye disease, wet age-related macular degeneration, cataracts, refractive errors, glaucoma, and various ocular surface and retina diseases.

Harrow generates revenue primarily from the sale of its branded ophthalmic products, including IHEEZO, VEVYE, TRIESENCE, VIGAMOX, ILEVRO, FLAREX, NATACYN, TOBRADEX ST, ZERVIATE, VERKAZIA, NEVANAC, FRESHKOTE, MAXITROL, MAXIDEX, and IOPIDINE, as well as from upcoming launches of BYOOVIZ, OPUVIZ, and BYQLOVI. Revenue also comes from its ImprimisRx compounding operations, which provide customized formulations to eye care professionals, and from out-licensing agreements and royalties on certain products.

The company operates through the following segments.

• Branded: This segment includes activities of FDA-approved ophthalmology pharmaceutical products, including the out-licensing of rights to certain of its products, and markets and sells treatments for anterior and posterior segment conditions such as IHEEZO, VEVYE, TRIESENCE, VIGAMOX, ILEVRO, FLAREX, NATACYN, TOBRADEX ST, ZERVIATE, VERKAZIA, NEVANAC, FRESHKOTE, MAXITROL, MAXIDEX, and IOPIDINE.

• ImprimisRx: This segment represents the ophthalmology-focused pharmaceutical compounding business, providing customized formulations, combination therapies, alternative dosage strengths, and preservative-free formulations from its 503A pharmacy and 503B outsourcing facility in New Jersey to over 10,000 U. S. eye care prescribers and institutions.

Harrow competes with large branded and generic pharmaceutical companies, biosimilar manufacturers, and other firms developing ophthalmic therapies. While some competitors possess greater financial, technical, manufacturing, and commercial resources, Harrow differentiates itself through a focused portfolio of niche branded products and a compounding business that addresses unmet clinical needs. Its competitive advantages include a deep understanding of ophthalmic disease management, a pipeline of late-stage assets such as MELT-300, and the ability to offer both proprietary and compounded solutions to eye care providers.

Harrow serves ophthalmologists, optometrists, ambulatory surgery centers, hospitals, and other eye care professionals throughout the United States.