Business
Harrow Announces Fourth Quarter and Year-End 2022 Financial Results
2022 and Recent Highlights: Full-year 2022 revenues of $88.6 million, up 22% over full-year 2021 revenues of $72.5 million Sold all non-ophthalmology assets,
About this update from Harrow, Inc.
[{"type":"text","content":"\n2022 and Recent Highlights:\n\n\nFull-year 2022 revenues of $88.6 million, up 22% over full-year 2021 revenues of $72.5 million\n\n\nSold all non-ophthalmology assets, making Harrow a pure-play ophthalmic pharmaceutical company\n\n\nFDA approval of IHEEZO™ topical ocular anesthetic\n\n\nCMS issuance of Permanent J-Code (J2403) and Pass-Through Reimbursement Status for IHEEZO\n\n\nAcquired U.S. commercial rights to ILEVRO®, NEVANAC®, VIGAMOX®, MAXIDEX®, and TRIESENCE®\n\n\nLaunched Fortisite™ fortified antibiotic compounded formulations\n\n\nLaunched preservative-free and boric-acid free compounded atropine.com™ formulations\n\n\n NASHVILLE, Tenn.--(BUSINESS WIRE)--\nHarrow (NASDAQ: HROW), a leading U.S. eyecare pharmaceutical company, today announced results for the fourth quarter and year ended December 31, 2022. The Company also posted its fourth quarter and year-end Letter to Stockholders and corporate presentation to the “Investors” section of its website, harrow.com.\nThis press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20230323005676/en/\n“2022 was truly a transformational year for Harrow,” said Mark L. Baum, CEO of Harrow. “Our IHEEZO™ journey has been remarkable – with its FDA approval in September 2022, and recently, in 2023, its issuance of a permanent J-Code (J2403) and Transitional Pass‑Through Reimbursement payment status. We believe that the J-Code and Pass-Through designations will enable a more efficient reimbursement process for ophthalmologists, optometrists, and retina specialists and create greater accessibility to the many clinical benefits that IHEEZO provides. We are confident that the infrastructure investments we made throughout 2022 to strengthen our people, platform, and performance will greatly contribute to a successful launch of IHEEZO in May 2023.\n\n“We also were successful in 2022 in significantly expanding our product portfolio in terms of both branded pharmaceutical products (BPPs) and compounded pharmaceutical products (CPPs). We transitioned NDAs for BPPs, such as IOPIDINE® and MAXITROL®, and we rounded out the year by announcing the acquisition of U.S. commercial rights to ILEVRO®, NEVANAC®, VIGAMOX®, MAXIDEX®, and TRIESENCE®, which are currently in various stages of preparedness for revitalization and relaunch once their NDAs are trans...