Harrow

Harrow

Compounds ophthalmic formulations; markets branded drugs

Overview

Harrow focuses on eyecare pharmaceuticals, combining a compounding business (ImprimisRx) with a portfolio of FDA-approved branded drugs and biosimilars, plus biotech investments. Its products include customized compounded sterile and topical eye medications delivered directly to physicians and patients, alongside branded drugs acquired from other companies. The company differentiates itself by integrating a direct-to-physician compounding platform with an expanding branded drug portfolio, biosimilars, and owned production and distribution facilities across all 50 states. Its goal is to provide accessible, high-quality eye medications and grow its commercial and biotech assets to serve surgeons, hospitals, and patients nationwide.

Significant Headcount Growth

About Harrow

Simplify's Rating
Why Harrow is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Biotechnology

Healthcare

Company Size

201-500

Company Stage

IPO

Headquarters

Nashville, Tennessee

Founded

1998

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Simplify's Take

What believers are saying

  • Q2 2026 revenue rose 11% to $70.7 million, with first-half revenue hitting $115 million.
  • BYOOVIZ launched July 1, 2026; VERKAZIA relaunched June 10, 2026; IHEEZO pricing improved July 1.
  • TYRVAYA acquisition announced August 6, 2026 adds more than $30 million in 2027 revenue.

What critics are saying

  • First-half 2026 revenue reached $115 million, forcing a brutal $235 million-$250 million second-half ramp.
  • Harrow carries $300 million of 8.625% notes due 2030 and $11.8 million H1 interest.
  • ImprimisRx surrendered California compounding licenses on February 1, 2026, shrinking the compounding franchise.

What makes Harrow unique

  • Harrow combines VEVYE, IHEEZO, TRIESENCE, BYOOVIZ, and TYRVAYA across dry eye and retina.
  • Mark Baum pairs direct ophthalmology selling with acquisition-driven portfolio expansion, including Samsung Bioepis.
  • August 1, 2026 VEVYE formulary expansion broadened access through a top-three national PBM.

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Funding

Total Funding

$573.7M

Above

Industry Average

Funded Over

10 Rounds

Post IPO Debt funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Debt Funding Comparison
Coming Soon

Benefits

Remote Work Options

Stock Price

Growth & Insights and Company News

Headcount

6 month growth

25%

1 year growth

25%

2 year growth

25%
Yahoo Finance
Aug 20th, 2026
Harrow reaffirms $350M-$365M guidance despite light H1, needs $235M-$250M in H2 to meet target

Harrow reported first-half 2026 revenue of around $115 million, below expectations due to VEVYE pricing changes. The company maintained full-year guidance of $350 million to $365 million, requiring $235 million to $250 million in second-half revenue. IHEEZO delivered record quarterly demand of 65,477 units despite losing pass-through reimbursement, whilst ordering accounts grew 32% year-over-year. VEVYE prescriptions increased 21% sequentially, outpacing the 14% broader market growth, with market share rising to 14.6%. TRIESENCE demand surged 162% year-over-year to 14,529 units. However, adjusted EBITDA remained negative at $1.2 million. The pending TYRVAYA acquisition adds $20 million in annual costs. Hedge fund ownership declined from 24 to 22 funds, whilst short interest stands at 20.14% of float.

Yahoo Finance
Aug 11th, 2026
Harrow reiterates $350M–$365M revenue guidance, plans $30M TYRVAYA acquisition

Harrow reported second-quarter revenue of $70.7 million, up 11% year-over-year, driven by stronger demand for VEVYE, IHEEZO and specialty products. The ophthalmic pharmaceutical company reiterated full-year revenue guidance of $350 million to $365 million and adjusted EBITDA guidance of $80 million to $100 million. VEVYE generated $29.4 million in quarterly revenue, up nearly 58% year-over-year, whilst IHEEZO contributed $15.6 million. Management expects second-half growth from improved VEVYE pricing, IHEEZO's 25% net price increase, and the BYOOVIZ and VERKAZIA launches. Harrow plans to acquire global rights to TYRVAYA for $30 million in cash, expecting more than $30 million of revenue in 2027 if the deal closes. The company also advanced pipeline programmes G-MELT and YOCHIL, targeting FDA submissions in 2027.

Associated Press
Jul 1st, 2026
Harrow launches BYOOVIZ biosimilar in $9B US anti-VEGF market under Samsung Bioepis deal

Harrow has announced the commercial launch of BYOOVIZ (ranibizumab-nuna) in the United States, an FDA-approved biosimilar referencing LUCENTIS. The launch follows Harrow's exclusive US commercialisation agreement with Samsung Bioepis, which also includes rights to OPUVIZ (aflibercept-yszy), another ophthalmology biosimilar. BYOOVIZ is approved for treating Neovascular Age-Related Macular Degeneration, Macular Edema following Retinal Vein Occlusion, and Myopic Choroidal Neovascularization. It was designated by the FDA as the first interchangeable ophthalmology biosimilar in the US. The product joins Harrow's expanding retina franchise, which includes IHEEZO and TRIESENCE. The company aims to strengthen its position in the estimated $9 billion US anti-VEGF market, providing retina specialists with buy-and-bill products for treating sight-threatening retinal diseases.

Yahoo Finance
Jun 10th, 2026
Harrow re-launches VERKAZIA to treat vernal keratoconjunctivitis in children

Harrow has re-launched VERKAZIA (cyclosporine ophthalmic emulsion) 0.1%, a prescription therapy for vernal keratoconjunctivitis (VKC), a serious allergic eye disease primarily affecting children. The re-launch includes a comprehensive commercial strategy focused on physician education, patient access and affordability initiatives. VERKAZIA is a calcineurin inhibitor immunomodulator that targets VKC's underlying inflammatory mechanisms and may reduce the need for steroid rescue, which carries risks including glaucoma or cataract formation. VKC can lead to sight-threatening conditions if left untreated. Chief Executive Officer Mark Baum said the re-launch aims to ensure dependable supply and remove access barriers for this evidence-based, steroid-sparing treatment. VERKAZIA represents the second of three priority products in Harrow's portfolio currently being executed.

Yahoo Finance
May 20th, 2026
B.Riley cuts Harrow price target to $60 amid pricing pressure but maintains buy rating

Harrow, Inc. (NASDAQ:HROW) had its price target reduced to $60 from $65 by B.Riley on 14 May, though the firm maintained its Buy rating. The adjustment followed first-quarter results impacted by weaker pricing for VEVYE and lowered near-term growth expectations. The Nashville-based ophthalmic pharmaceutical company reported first-quarter revenue of $44.2 million, including an $8 million non-recurring adjustment related to VEVYE commercial coverage. Despite pricing pressures, the company highlighted record VEVYE prescriptions and strong performance from IHEEZO and TRIESENCE, with unit demand rising 18% and doubling respectively year over year. Harrow reaffirmed full-year revenue guidance of $350–$365 million. B.Riley cited upcoming product launches, reimbursement coding catalysts and expanding commercial leverage as factors supporting stronger second-half performance.

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