Harrow Health reports Q3 core EPS (9c), consensus 5c

Reports Q3 revenue $34.265M, consensus $37.69M. Commenting on Harrow’s third quarter results, Mark Baum, CEO of Harrow, said, “During the third quarter, we produced record revenues, a 50% increase over prior-year revenues. However, operationally, the third quarter was a mixed bag, with some areas performing exceptionally well, like our launch of IHEEZO, and some areas underperforming, such as our Fab Five products and our compounding business. The 50% year-over-year increase in revenues was primarily a result of increases in branded pharmaceutical products, buoyed by performance from IHEEZO that exceeded our internal expectations. Strategic amendments to the IHEEZO launch led to a substantial ramp in unit demand in September, a trend that continued into the fourth quarter. We are hearing from eyecare professionals that they are very happy with IHEEZO’s clinical benefits, and we are seeing sizable orders and re-orders from high-volume users as well as many new accounts. While it’s still early in the launch and we have a lot of additional work to do, we are bullish about what we see for IHEEZO in 2024 and beyond.”