Great Progress on All Fronts: Harrow Health, Inc. (NASDAQ: HROW)

On 13 Sep 2019, Harrow Health, Inc. (NASDAQ: HROW) above/below -5.00% and ended at $5.89. The stock market capitalization arrived at $148.228M and total traded volume was 160,544 shares. During last trade, its maximum trading price was registered $6.30 and it’s the minimum trading price was noted $5.80.

Harrow Health, Inc. (HROW) recently stated results for the second quarter 2019.

Second Quarter 2019 and Other Recent Notable Highlights:

  • 46% year-over-year increase in ImprimisRx ophthalmology gross revenue to $12.1M
  • Pharmaceutical Compounding section contributed about $2M in earnings during Q2
  • 115% year-over-year growth in gross revenue from chronic care formulations
  • Gross margin of 61%, contrast to 60% in second quarter 2018
  • Record number of over 850,000 ophthalmic pharmaceutical products dispensed year to date
  • Four new ophthalmic products predictable to be released in Q3-2019
  • Ten ImprimisRx ophthalmic formulations analytically tested to 12-month expiration dates
  • Twenty ophthalmic formulations presently in various stages of research and development
  • Improvements in production efficiency predictable in second half of 2019 from investments made in automated and semi-automated equipment
  • Adjusted EBITDA (non-GAAP) of $245,000
  • Entered into an contract to sell Harrow subsidiary, Park Compounding, for $8M; sale will allow for increased operational focus on market-leading ImprimisRx ophthalmology franchise
  • Refinanced credit facility with SWK Holdings to reduce interest rate, extend interest-only period, and provide access, at Harrow’s discretion, to an additional $5M of capital
  • Mayfield Pharmaceuticals released with three women’s health drug candidates, including indications for bacterial vaginosis, dyspareunia, and interstitial cystitis, a collective potential $3B yearly domestic market prospects
  • Stowe Pharmaceuticals will seek FDA authorization for its lead drug candidate STE-006, which is based on a recently purchased new chemical entity (NCE) we believe could treat potentially blinding bacterial, fungal and viral infections in the eye, a $2+B yearly domestic market prospects

HROW debt to equity ratio was 0.40 while current ratio was 3.90. The company has the institutional ownership of 40.60% while the Beta factor was 0.14. The stock RSI amounts to 48.21.

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