HARROW, INC.
HROW evidence brief
What we can confirm
- BioSniper Score:
- 6.1 / 10
- Market Cap:
- $1.27B
- Lead Asset:
- surf-100 (Preclinical)
What it means
What to watch
Prepared research question
What matters most for HROW—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · HROW
Harrow, Inc. (HROW) is a North American ophthalmic disease management company that develops, acquires, and commercializes prescription eye care products, with a portfolio including IHEEZO, VEVYE, BYOOVIZ, and TYRVAYA, and holds a preclinical pipeline candidate SURF-100 through a partnership with Surface Ophthalmics.
Key risk: High debt burden
BioSniper Score
Based on 5 of 6 signals
Market Cap
$1.27B
Cash Runway
—
Lead Asset
surf-100 (Preclinical)
Next Catalyst
Patent_Expiry · Aug 3, 2028Financial data as of Jun 30, 2026.
Tracking 1 pipeline candidate · 4 clinical trials · 6 catalysts for HARROW, INC..
Harrow, Inc. (HROW) is a North American ophthalmic disease management company that develops, acquires, and commercializes prescription eye care products, with a portfolio including IHEEZO, VEVYE, BYOOVIZ, and TYRVAYA, and holds a preclinical pipeline candidate SURF-100 through a partnership with Surface Ophthalmics.
- Cash & equivalents of $83.9M as of 2026-06-30 [sec]
- Total revenue of $70.7M and net income of -$17.3M as of 2026-06-30 [sec]
- Shareholders' equity of $15.2M and total debt of $300.0M as of 2026-06-30 [sec]
- Reported statistically significant results favoring IHEEZO in an intravitreal injection study [news · published 2026-08-20]
- Launched BYOOVIZ in the retinal biosimilar market and acquired TYRVAYA to expand dry eye disease portfolio [news · published 2026-08-12]
What works
- Positive clinical results for IHEEZO in a prospective, randomized study support product momentum [news · published 2026-08-20]
- Expanded formulary coverage for VEVYE increases potential patient access for dry eye disease treatment [news · published 2026-08-12]
- Partnership with Samsung Bioepis for BYOOVIZ biosimilar adds a retinal product to the ophthalmology lineup [news · published 2026-07-20]
What to weigh
- Net loss of -$17.3M as of 2026-06-30 indicates ongoing unprofitability [sec]
- Total debt of $300.0M significantly exceeds shareholders' equity of $15.2M, reflecting high leverage [sec]
- Preclinical pipeline candidate SURF-100 is early-stage and carries development risk [pipeline]
From the filings
Quoted directly from source documents.
Positive IHEEZO study results
“Harrow reports statistically significant results favoring IHEEZO in intravitreal injection study”
News · August 20, 2026
Partnership with Surface Ophthalmics for SURF-100
“Harrow owns approximately 20% of Surface's equity and holds mid-single-digit royalty rights on future net sales.”
Catalyst timeline
- 2026-05-25 · Phase3_Start: TRIESENCE — A Phase 3 study evaluating TRIESENCE for ocular inflammation and pain after ophthalmic surgery.
- 2028-08-03 · Patent_Expiry: DEXAMETHASONE; TOBRAMYCIN — Patent expiry of NDA050818 for DEXAMETHASONE; TOBRAMYCIN.
- 2029-06-02 · Patent_Expiry: CYCLOSPORINE — Patent expiry of NDA214965 for CYCLOSPORINE.
- 2032-03-31 · Patent_Expiry: NEPAFENAC — Patent expiry of NDA203491 for NEPAFENAC.
- 2032-07-09 · Patent_Expiry: CETIRIZINE HYDROCHLORIDE — Patent expiry of NDA208694 for CETIRIZINE HYDROCHLORIDE.
- 2036-05-09 · Patent_Expiry: CLOBETASOL PROPIONATE — Patent expiry of NDA218158 for CLOBETASOL PROPIONATE.
- 2039-05-14 · Patent_Expiry: CHLOROPROCAINE HYDROCHLORIDE — Patent expiry of NDA216227 for CHLOROPROCAINE HYDROCHLORIDE.
Risks & what to watch (3)›
Key risks
- High debt burden — Total debt of $300.0M far exceeds shareholders' equity of $15.2M as of 2026-06-30 [sec]
- Net loss position — Net income of -$17.3M as of 2026-06-30 indicates ongoing losses [sec]
- Early-stage pipeline — SURF-100 is preclinical and carries development and regulatory risk [pipeline]
What to watch
- Phase 3 start of TRIESENCE for ocular inflammation and pain after ophthalmic surgery [catalyst · 2026-05-25]
- Patent expiry of DEXAMETHASONE; TOBRAMYCIN on 2028-08-03 [catalyst]
- Patent expiry of CYCLOSPORINE on 2029-06-02 [catalyst]
- Patent expiry of NEPAFENAC on 2032-03-31 [catalyst]
Sources: Catalysts · Competitor trials · News · Pipeline · Generated October 5, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 5 of 6 signals · derived from public data
Cash runway data unavailable
D/E 26.45 · 0% dilution
Lead: Preclinical
1 candidate
6 upcoming, next in ~659d
4 buys · 1 sell (180d)
Catalysts
Pipeline
Regulatory
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
217
Total value held
$752.8M
| Holder | Shares | Value |
|---|---|---|
| opaleye management inc. | 2,832,230 | $99.9M |
| blackrock, inc. | 2,552,759 | $90.0M |
| private capital management, llc | 1,562,000 | $55.1M |
| vanguard capital management llc | 1,403,056 | $49.5M |
| luxor capital group, lp | 1,119,400 | $39.5M |
| state street corp | 855,047 | $30.1M |
| geode capital management, llc | 852,034 | $30.0M |
| marshall wace, llp | 644,918 | $22.7M |
| dimensional fund advisors lp | 579,520 | $20.4M |
| ikarian capital, llc | 543,047 | $19.1M |
Showing top 10 of 217 institutional holders of HARROW, INC.. Open the full 13F history after sign-in.
Governance
Frequently asked questions
What is the AI investment thesis for HARROW, INC.?
Harrow, Inc. (HROW) is a North American ophthalmic disease management company that develops, acquires, and commercializes prescription eye care products, with a portfolio including IHEEZO, VEVYE, BYOOVIZ, and TYRVAYA, and holds a preclinical pipeline candidate SURF-100 through a partnership with Surface Ophthalmics.
What is HARROW, INC.'s lead drug candidate?
HARROW, INC.'s most advanced tracked candidate is surf-100 (Preclinical) for ocular surface related indications.
What is HARROW, INC.'s next catalyst?
HARROW, INC.'s next tracked catalyst is a Patent_Expiry event — "Patent_Expiry: NDA050818" — expected August 3, 2028.
Who is the CEO of HARROW, INC.?
Mr. Mark L. Baum J.D. is the chief executive officer of HARROW, INC. (HROW).
Where is HARROW, INC. headquartered?
HARROW, INC. (HROW) is headquartered in Nashville, TN, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.