Chase Knickerbocker

Mayank Mamtani

Thomas Flaten

Yi Chen

Brooks O'Neil

Lachlan Hanbury-Brown

Steve Seedhouse

Thomas Shrader

- Harrow aims to become the next great U.S. ophthalmic company, leveraging its founder-led approach and active M&A strategy to build the largest and most diversified portfolio of prescription ophthalmic products in North America.  **[1360214_2159271_1]** 
- The company announced the acquisition of Melt, a patented technology for procedural sedation, with an anticipated NDA filing in **2027** and launch in **2028**. Melt 300 is expected to become a **$100 million-plus** high-margin annual revenue product.  **[1360214_2159271_2]** **[1360214_2159271_12]** 
- Harrow anticipates **over $280 million** in revenue for **2025** and has a medium-term goal of achieving over **$250 million** in quarterly revenue by **Q4 2027**.  **[1360214_2159271_4]** **[1360214_2159271_4]** 
- Key product developments include the expansion of **TRIESENCE** into the ocular inflammation market in **Q4** of this year, the launch of **BICLOVI** in **Q1 next year**, and the planned launches of biosimilars **BioViz** (mid-**2026**) and **Opuviz** (second half of **2027**).  **[1360214_2159271_1]** **[1360214_2159271_4]** **[1360214_2159271_4]** **[1360214_2159271_24]** **[1360214_2159271_28]** 
- **VEVYE** reached a **7.8%** market share in **Q2 2025**, surpassing CEQUA to become the second most prescribed cyclosporin-based dry eye therapy, with continued momentum in Q3.  **[1360214_2159271_15]**

Harrow Outlines Strategic Vision, Product Pipeline, and Financial Targets

- Harrow expects **2025 revenue to exceed $280 million**  **[1360214_2159039:5]** , with consolidated revenues for H1 2025 reported at **$111,574 thousand** and Adjusted EBITDA at **$15,021 thousand**.  **[1360214_2159039:6]** 
- The company made several strategic moves in 2025, including acquiring exclusive U.S. commercial rights for **BYQLOVI** in June  **[1360214_2159039:5]**  and the exclusive U.S. rights to Samsung Bioepis' ophthalmology biosimilars pipeline, including **BYOOVIZ** and **OPUVIZ**, in July.  **[1360214_2159039:5]** **[1360214_2159039:13]** 
- Key growth drivers such as **VEVYE** saw **66% Q/o/Q Rx volume growth** and reached **7.8% market share** in Q2 2025  **[1360214_2159039:5]** **[1360214_2159039:10]** , while **IHEEZO** experienced **25% growth in unit demand** in Q2 2025.  **[1360214_2159039:5]** 
- As of June 30, 2025, Harrow held **$52,963 thousand in cash and cash equivalents**.  **[1360214_2159039:6]**

Harrow Provides 2025 Revenue Guidance and Highlights Recent Acquisitions and Product Performance

- Harrow, Inc. entered into an agreement on **September 24, 2025**, to acquire the remaining equity interests in **Melt Pharmaceuticals, Inc.**, a clinical-stage pharmaceutical company focused on non-opioid, non-IV sedation therapies.  **[1360214_0001493152-25-015054_form8-k.htm:0]** **[1360214_0001493152-25-015054_ex99-1.htm:0]** **[1360214_0001493152-25-015054_form8-k.htm:1]** 
- The acquisition includes an initial cash payment of approximately **$4.3 million** at closing, with contingent payments totaling up to **$87.2 million** in cash upon FDA approval of MELT-300, approximately **1,112,000 shares** of common stock upon J-Code issuance, and up to **$261.0 million** in cash for sales milestones.  **[1360214_0001493152-25-015054_form8-k.htm:1]** 
- Melt's lead investigational therapy, **MELT-300**, is a sublingually delivered formulation for sedation and analgesia, which demonstrated positive topline results in its pivotal LOUISE Phase 3 Study in **November 2024**.  **[1360214_0001493152-25-015054_ex99-1.htm:0]** 
- Harrow plans to submit a New Drug Application (NDA) for MELT-300 to the FDA in **2027**, with a potential U.S. commercial launch in **2028**.  **[1360214_0001493152-25-015054_ex99-1.htm:0]**

Harrow to Acquire Melt Pharmaceuticals

- Harrow, Inc. completed a private offering of **$250,000,000 principal amount of its 8.625% Senior Notes due 2030** on **September 12, 2025**.  **[1360214_0001493152-25-013268_ex10-1.htm:0]** **[1360214_0001493152-25-013268_form8-k.htm:4]** 
- The company received **approximately $244 million in net proceeds** from this offering.  **[1360214_0001493152-25-013268_form8-k.htm:4]** 
- The net proceeds will be used to **prepay outstanding borrowings** under a Credit Agreement and Guaranty, the **8.625% Senior Notes due 2026**, and the **11.875% Senior Notes due 2027**, along with covering exit costs and general corporate purposes, including funding future strategic business development.  **[1360214_0001493152-25-013268_form8-k.htm:4]** 
- Concurrently, Harrow, Inc. issued a notice for the full redemption of its **8.625% Senior Notes due 2026** (HROWL) on **October 13, 2025**, at 100% of the principal amount plus a make-whole amount and accrued and unpaid interest.  **[1360214_0001493152-25-013268_form8-k.htm:0]** **[1360214_0001493152-25-013268_form8-k.htm:4]**

HARROW (HROW)