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Harrow Inc Com (HROW) has submitted its annual report on Form 10-K filing for the fiscal year ended December 31, 2024.
The report details the company's operations in the eyecare pharmaceutical sector, focusing on the discovery, development, and commercialization of ophthalmic pharmaceutical products for the U.S. market.
Harrow Inc Com reported total revenues of $199,614,000 for the year, an increase from $130,193,000 in the previous year. This growth was attributed to increased sales and marketing efforts, new product launches, and acquisitions.
The company's net loss for the year was $17,481,000, compared to a net loss of $24,411,000 in the previous year. The improvement was due to increased revenues and operational efficiencies.
Harrow Inc Com's cost of sales was $49,245,000, up from $39,640,000 in the prior year, reflecting higher sales volumes and amortization of acquired product NDAs.
Selling, general, and administrative expenses increased to $129,064,000 from $83,090,000, primarily due to the addition of new employees and costs associated with product launches.
Research and development expenses rose to $12,230,000 from $6,652,000, driven by activities related to the expanded branded product portfolio and technical transfer activities.
The company highlighted its strategic focus on increasing revenues from branded pharmaceutical products and proprietary compounded formulations, as well as optimizing pricing and reimbursement options.
Harrow Inc Com is currently in discussions to refinance its Oaktree Loan, which matures in January 2026, and management believes it is probable that a refinancing will be completed.
The filing also discusses the company's ownership interests in Surface Ophthalmics, Inc. and Melt Pharmaceuticals, Inc., as well as its royalty rights in various drug candidates being developed by these entities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Harrow Inc Com annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.