Harrow, Inc. · NASDAQ:HROW
Harrow — Harrow Health — Investor Presentation (September 2020)
17 slides from Harrow's investor presentation, Sep 14, 2020
Slide 1: Harrow September 2020
HARROW SEPTEMBER 2020 NASDAQ: HROW OUTSTANDING COMMON STOCK: 25.6M SHARES ESTIMATED MARKET CAPITALIZATION $167M PRICE PER SHARE as of July 7, 2020 $6.51
Slide 2: Safe Harbor
HARROW SAFE HARBOR This presentation contains express “forward-looking statements” as defined in the Private Securities Litigation Reform Act of 1995. You are cautioned not to rely on these forward-looking statements. These statements are based on current expectations of future events. If underlying
Slide 3: Introduction
Introduction HARROW We start-up innovative healthcare businesses with a focus in ophthalmic pharmaceuticals. We own ImprimisRx, an ophthalmology-focused prescription pharmaceutical platform. We actively manage our interests in six other Harrow-founded healthcare businesses. * We own royalty streams
Slide 4: Consolidated Revenues, Assets, and Gross Margins
Introduction Consolidated Revenues, Assets, and Gross Margins $70,000 (Revenue and Assets in Thousands) $60,000 pe $50,000 $40,000 $30,000 $20,000 $10,000 $0 2014 2015 2016 2017 2018 2019 Adj.E(L)BITDA —($7.5M) ($10M) ($10M) ($7M) $0.2M $4.6M Wim Consolidated Revenues MmAssets == Gross Margins HARRO
Slide 5: ImprimisRx
IMpPriMIs p . * 100% wholly-owned Harrow subsidiary founded in 2014. + Nation’s leading FDA-registered ophthalmology-focused cGMP pharmaceutical drug compounder and prescription drug platform serving the ocular surgery, dry eye disease, and glaucoma markets. * Launched over 7 ophthalmic product line
Slide 6: Traditional Pharmaceutical Value Chain
Our Businesses Traditional Pharmaceutical Value Chain oe eae we o- MD/Hospital PRODUCTION PHARMACY INSURERS WHOLESALERS PHARMACY Prescription BENEFIT RETAILERS MD OFFICE, MANAGERS pie OR Middle-men and intermediaries thrive. Inefficiencies diminish value for the patient, pharmaceutical company, and
Slide 7: ImprimisRx Value Chain
Our Businesses ImprimisRx Value Chain — (A) PATIENT ORDER & (@) PAYMENT > MD OFFICE, —=- HOSPITAL OR ASC Cash-pay focused; no pharmacy benefit manager (PBM), wholesaler or distributor middlemen. No formulary rejections, discount cards, prior authorizations, insurance investigations, or PBM claw-back
Slide 8: ImprimisRx monthly revenues and COVID-19 impact
IMPriMIs 2. $4,500,000 $4,000,000 “CMS and states qinteteaintations on elective surgeries* $3,500,000 l 1 $3,000,000 $2,500,000 $2,000,000 $1,500,000 $1,000,000 $500,000 $- February March April May June * A reduction in elective procedures in response to COVID-19 had a negative impact on revenues. +
Slide 9: Growth Strategy
IMpPriMIs p . Growth Strategy We intend to leverage our national platform, continuing to create a dominant position in the US ophthalmic surgery market (>5 million annual procedures*); and to make a strong push into dry eye disease, glaucoma, and other patient-specific chronic care eye conditions. +
Slide 10: Non-Controlled Equity Interests
Our Businesses Non-Controlled Equity Interests ESTIMATED VALUE: $56M* elon _ PHARMACEUTICALS y Melt | y $17,500,000 surface Eton $26,950,000 Surface me s11360.000 PHARMACEUTICALS *sssess. HARROW “Melt/Surface equity values estimated based on the conversion price of Series A preferred stock (the most
Slide 11: Eton Pharmaceuticals
elon PHARMACEUTICALS Background * Specialty pharmaceutical company; with diversified and growing pipeline. * Deconsolidated from Harrow in June 2017, NASDAQ IPO in November 2018 (ETON). * Harrow Health owns 3.5M shares of Eton common stock (-17%). Opportunity* * $2.5B+ aggregate market opportunity f
Slide 12: Surface Pharmaceuticals
Our Businesses G@urtace Background * Clinical stage pharmaceutical development company focused on ocular surface and dry eye disease. * Deconsolidated from Harrow May 2018 after $21M Preferred Stock offering led by Flying L Partners. + Harrow Health owns 3.5M shares of Surface common stock (~30% of
Slide 13: Melt Pharmaceuticals
melt PHARMACEUTICALS Background * Clinical-stage company developing patented sublingual non-lV, non-opioid sedation drug candidates. * Deconsolidated from Harrow in January 2019 after $11M Preferred Stock offering. * Harrow Health owns 3.5M shares of Melt common stock (-44% of equity interests). Opp
Slide 14: Visionology
6: visionology Background Comprehensive, on-demand telemedicine chronic care ophthalmic platform. * Innovative telemedicine 2.0 platform unites a national network of trusted eye health professionals, pharmaceutical and diagnostics companies, and pharmacy services to patients and their loved ones in
Slide 15: Our Businesses: Mayfield and Stowe
Our Businesses MAN AILE LD Background Women’s health pharmaceutical company developing three novel drug candidates: * MAY-66: Topical NCE for bacterial vaginosis + MAY-44: Temporary treatment of dyspareunia * MAY-88: Treatment for interstitial cystitis Opportunity Transformative patented therapies i
Slide 16: Harrow investment summary
HARROW + ImprimisRx is a cornerstone wholly-owned ophthalmology-focused commercial drug platform. * Expect ImprimisRx to grow beyond a $100M revenue business over the next few years. + Leverage ImprimisRx ophthalmic drug platform to partner and inorganically expand our business. * Positioned to capt
Slide 17: Harrow contact information
HARROW 102 Woodmont Blvd. Ste 610 Nashville, Tennessee 37205 (615) 733-4730 IR@HARROWINC.COM WWW.HARROWINC.COM
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