Harrow, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Harrow, Inc. filed its 2023 10-K report detailing its financial performance and corporate information.</b>

AI Summary

HARROW, INC. (HROW) filed a Annual Report (10-K) with the SEC on March 19, 2024. Harrow, Inc. reported its fiscal year 2023 results on March 19, 2024. The company's fiscal year ended on December 31, 2023. Harrow, Inc. is incorporated in Delaware. The company's principal executive offices are located in Nashville, TN. Harrow, Inc. was formerly known as Harrow Health, Inc.

Why It Matters

For investors and stakeholders tracking HARROW, INC., this filing contains several important signals. This filing provides a comprehensive overview of Harrow's financial health and operational status for the fiscal year 2023, crucial for investors to assess performance and future outlook. The 10-K report contains detailed financial statements, risk factors, and management discussions, offering insights into the company's strategies and challenges in the pharmaceutical preparations sector.

Risk Assessment

Risk Level: medium — HARROW, INC. shows moderate risk based on this filing. The company operates in the pharmaceutical preparations industry, which is subject to significant regulatory oversight and market competition, as indicated by its SIC code 2834 and the nature of a 10-K filing.

Analyst Insight

Investors should review the detailed financial statements and risk factors in the 10-K to understand Harrow's performance and potential challenges.

Key Numbers

• 2023-12-31 — Fiscal Year End (Conformed period of report)
• 2024-03-19 — Filing Date (Filed as of date)
• 2834 — SIC Code (Standard Industrial Classification)
• 001-35814 — SEC File Number (SEC file number)

Key Players & Entities

• HARROW, INC. (company) — Filer name
• HROW (company) — Ticker symbol
• 10-K (document) — Filing type
• 20231231 (date) — Conformed period of report
• 20240319 (date) — Filed as of date
• 2834 (industry) — Standard Industrial Classification
• DE (jurisdiction) — State of incorporation
• Nashville, TN (location) — Business address city and state

FAQ

Industry Context

Harrow, Inc. operates within the pharmaceutical preparations industry, focusing on ophthalmic pharmaceuticals.

Regulatory Implications

Companies in the pharmaceutical sector are subject to stringent regulations from bodies like the FDA regarding drug development, manufacturing, and marketing.

What Investors Should Do

1. Review Harrow's detailed financial statements for FY 2023.
2. Analyze the risk factors section for potential business threats.
3. Compare current year performance against previous years' filings.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-19: Filing Date — Date the 10-K report was officially filed with the SEC.

Year-Over-Year Comparison

This filing represents the annual 10-K report for the fiscal year ending December 31, 2023, providing a comprehensive update compared to previous filings.

Key Financial Figures

• $0.001 — nge on Which Registered Common Stock, $0.001 par value per share HROW The Nasdaq
• $19.04 — million, based on the closing price of $19.04 for the registrant's common stock as qu
• $23,000,000 — ugh March 1, 2024, Melt had raised over $23,000,000 in gross proceeds from the sale and iss
• $5.8 billion — product market is expected to grow from $5.8 billion in 2023 to $7.5 billion in 2028. Dry ey
• $7.5 billion — ed to grow from $5.8 billion in 2023 to $7.5 billion in 2028. Dry eye is among the most comm

Filing Documents

• form10-k.htm (10-K) — 2559KB
• ex4-1.htm (EX-4.1) — 176KB
• ex10-46.htm (EX-10.46) — 52KB
• ex21-1.htm (EX-21.1) — 7KB
• ex23-1.htm (EX-23.1) — 5KB
• ex31-1.htm (EX-31.1) — 18KB
• ex31-2.htm (EX-31.2) — 18KB
• ex32-1.htm (EX-32.1) — 8KB
• ex32-2.htm (EX-32.2) — 8KB
• ex97.htm (EX-97.1) — 41KB
• 0001493152-24-010518.txt (&nbsp;) — 12537KB
• hrow-20231231.xsd (EX-101.SCH) — 80KB
• hrow-20231231_cal.xml (EX-101.CAL) — 108KB
• hrow-20231231_def.xml (EX-101.DEF) — 390KB
• hrow-20231231_lab.xml (EX-101.LAB) — 642KB
• hrow-20231231_pre.xml (EX-101.PRE) — 526KB
• form10-k_htm.xml (XML) — 2256KB

Business

Business 3 Item 1A.

Risk Factors

Risk Factors 19 Item 1B. Unresolved Staff Comments 51 Item 1C. Cybersecurity 51 Item 2.

Properties

Properties 52 Item 3.

Legal Proceedings

Legal Proceedings 52 Item 4. Mine Safety Disclosures 52 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 52 Item 6. [Reserved] 52 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 53 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 66 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 67 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 67 Item 9A.

Controls and Procedures

Controls and Procedures 67 Item 9B. Other Information 68 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 68 PART III Item 10. Directors, Executive Officers and Corporate Governance 68 Item 11.

Executive Compensation

Executive Compensation 68 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 68 Item 13. Certain Relationships and Related Transactions, and Director Independence 68 Item 14. Principal Accountant Fees and Services 68 PART IV Item 15. Exhibits, Financial Statement Schedules 69 Item 16. Form 10-K Summary 73

SIGNATURES

SIGNATURES 74 2 As used in this Annual Report on Form 10-K (this "Annual Report"), unless indicated or the context requires otherwise, the terms the "Company," "Harrow," "we," "us" and "our" refer to Harrow, Inc. and its consolidated subsidiaries. In addition to historical information, the following discussion contains forward-looking statements regarding future events and our future performance. In some cases, you can identify forward-looking statements by terminology such as "will," "may," "should," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "forecasts," "potential" or "continue" or the negative of these terms or other comparable terminology. All statements made in this Annual Report other than statements of historical fact are forward-looking with respect to future events and our future performance. If risks or uncertainties materialize or assumptions prove incorrect, actual results or events could differ materially from those expressed or implied by such forward-looking statements. Risks that could cause actual results to differ from those expressed or implied by the forward-looking statements we make include, among others, risks related to: liquidity or results of operations; our ability to successfully implement our business plan, develop and commercialize our proprietary formulations in a timely manner or at all, identify and acquire additional proprietary formulations, manage our pharmacy operations, service our debt, obtain financing necessary to operate our business, recruit and retain qualified personnel, manage any growth we may experience and successfully realize the benefits of our previous acquisitions and any other acquisitions and collaborative arrangements we may pursue; competition from pharmaceutical companies, outsourcing facilities and pharmacies; general economic and b

financial statements

financial statements. Branded Ophthalmic Pharmaceuticals Over the past few years, we have invested in broadening our product portfolio of FDA-approved products. Our investments in this regard have led to the pursuit and completion of several announced transactions, all of which are focused on eyecare pharmaceuticals primarily for the U.S. and Canadian markets. We believe that our continued investments in these and other products will result in our ability to provide more physician prescribers and their patients with access to a complete portfolio of affordable eyecare pharmaceuticals to address their clinical needs. We own U.S. commercial rights to the following products: IHEEZO (chloroprocaine hydrochloride ophthalmic gel) 3% a low-viscosity gel indicated for ocular surface anesthesia. VEVYE (cyclosporine ophthalmic solution) 0.1%, utilizes a novel water-free vehicle (perfluorobutylpentane) based on semifluorinated alkanes, indicated for the treatment of the signs and symptoms associated with dry eye disease. TRIESENCE (triamcinolone acetonide injectable suspension) 40 mg/ml, a steroid injection for the treatment of certain ophthalmic diseases and for visualization during vitrectomy. VIGAMOX (moxifloxacin hydrochloride ophthalmic solution) 0.5%, a fluoroquinolone antibiotic eye drop for the treatment of bacterial conjunctivitis caused by susceptible strains of organisms. ILEVRO (nepafenac ophthalmic suspension) 0.3%, a non-steroidal, anti-inflammatory eye drop indicated for pain and inflammation associated with cataract surgery. 3 FLAREX (fluorometholone acetate ophthalmic suspension) 0.1%, a corticosteroid prepared as a sterile topical ophthalmic suspension indicated for use in the treatment of steroid-responsive inflammatory conditions of the palpebral and bulbar conjunctiva, cornea, and anterior segment of the eye. NATACYN (natamycin ophthalmic suspension) 5%, a sterile, antifungal drug for the treatment of fungal blepharitis, conjunctivitis

View Full Filing

View this 10-K filing on SEC EDGAR