HROW - Earnings call transcript Q1 2019

Due to licensing restrictions, you must log in to view earnings call transcripts.

Operator

Good afternoon. And welcome to the conference call covering Harrow Health Financial Results and Business Update for the First Quarter of 2019. My name is Christy and I will be your operator for today. At this time all participants are in a listen-only mode. Later we will conduct a question-and-answer session. have copy should press the you release. now received of a earnings By

not please at a Investor you received If have copy of company's Relations the go Web site www.harrowinc.com. page the to

let me statements forward-looking meaning Before we the begin remind that remarks within law. the securities federal you of include company's today,

as Health uncertainties numerous in and manner risks uncertainties approval or to at from time-to-time Forward-looking in to uncertainties candidates ability commercially of including risks statements to are a and which certain of formulations available control many SEC the filings the company's its such its timely drug and FDA related and subject are risks beyond Harrow make and technologies described all. compounded

from please recent Risk company's and Health reports the a of the disclaims materially Exchange whether report section projected. annual Harrow's on see with financial information Harrow of the as of and or time For description accurate Form and and forward-looking information This call sensitive or revise list subsequent or only most Factors Securities contains future any any new Commission. conference Form of on XX-K those today. obligation those because or filed statements update and quarterly may otherwise. projections differ XX-Q uncertainties, results risks to events as intention

Baum, GAAP like of reconciliation Mark over Additionally, on that I included Harrow is available A measures the site. and to Chief any With of Harrow. will press Executive directly Mark? measures turn call earnings. refer company's to adjusted non-GAAP comparable non-GAAP the financial Web EBITDA metrics specifically would Officer in to or adjusted the release with the most

Mark Baum

business. our and year-over-year continue and additional shareholder consolidated discuss Harrow cover XXXX reported Today our market numbers XXXX ImprimisRx. color XX% add I'm to plan XX% on and days was QX new revenue and results than for grow, happy to and ago, Less for value. continue ophthalmology for will XXXX reporting. focus innovation record Harrow we year-over-year XX financial talk that us. our is revenue ImprimisRx our quarter Health Andrew growth to report drive working what's Thanks going segmented a Health financial to to another QX growth of to joining yet and leading of about

in the period exciting my been ophthalmology value a associated in of gross When founded pace a catalysts creation XX% our with non-GAAP an pharmaceutical since creation the of of revenues the record to ImprimisRx overall Our share business past value the high portfolio goal And in record XXXX. QX team million company perspective value high most days a was development for future out you're purchase growing investing. view you rate margins businesses with in $XX for recorded spin record $XXX a revenue and our is hit and innovation hit high, our XXXX. of has accounting of businesses traditionally all Health potential run Consolidated Harrow on productive critically achieve stake in stock our a nearly revenue from of pharmaceutical equities by million. focused XX and buying portfolio

by businesses their respective solutions in in unmet areas. success Our industry pharmaceutical markets order and of commercializing seasoned in records to They're large cases with developing for needs. are solve veterans led therapeutic some pharma

are important critical will and ultimately be reach value founded milestones our to impactful physicians Our creating businesses are businesses serve. to patients they and the and importantly financed to

of coupled increasing XXXX. QX record We increase to growth to to and grew this shine trend our of another million. demand will XXXX an directly XX% Now ImprimisRx with wholly-owned and This let's volumes. Revenue first compared talk unit QX new quarter. our And unit to $XX.X in ophthalmology sold was business in of months ophthalmologist and new the continue about revenue of President continued our believe revenues growing related Under within existing this growth of products should coming inside accounts revenue in broadening customers John we're further prescribers. sales ImprimisRx's base through fuel of slight and with to optometrist customer reach the growth. numbers expected on launching our leadership new record help our a Saharek, of increase price new we're thousands bringing initiatives

we quarter coming is initiated XXXX. investment to gross record. by founded quarter critically for first various company and proof as first investigator first positive prescription XX clinical more new reaching equaling of in we our for and the adjusted We and of sequentially revenue investing seasonal medicines return care are net figure margin than gain $XX.X ImprimisRx the Gross more higher income points a basis the year. net points medications. margins percentage value Pharmaceuticals XX% of helped XX% a $XXX,XXX new generated record grew Melt million their company a is We which costs one-time deconsolidation the studies last from points quarter Despite of million January chronic $X.X of XXX of in EBITDA another from recorded

shares close value. Melt the to contributed listed company. investment increase XX% XXXX financing, pharmaceuticals NASDAQ in of continued A the in Eton the an Series which we also ownership Following approximately in we as gain founded retained its

our presented On cover account four, increases; broader that five, wanted one, including, I second penetration; three, annual six, growth, November six The customers; launches; patient factors and revenue earnings to growth; new I call, focus our two, is profitability pricing innovation. X% supported consolidated attracting demographic force specific and and targets product new XXXX expansion. item sales

a but ASCRS part revenue our our last story. and that growth Cataract Refractive On to continue have factors surgeons. future of recent conference mentioned alone these which ophthalmology I ImprimisRx significant meeting and expected call. factors to largest these only are of is our at the targets, for the profitability All presence support meeting

were a key leader record opinion XX ImprimisRx for which fact, products In company. featured presentations, our in is

C our OSDI Chondroitin of And the formulation patients ImprimisRx Matossian ophthalmologist their is preliminary At customers KOL solution event of ImprimisRx that's RSVP presented enhanced were the staff ImprimisRx company ophthalmology event office is of into of including range ASCRS, fueling Saturday in Klarity Topical formulations new to presentation Cynthia specifically Statistically Efficacy Klarity formulations highlight formulations corneal are X.X%, with of the treatment solution three how X.X%, enlightening, B one-third and normal moving X.X% which Cyclosporine plus several X%. lives plus OSDI Matossian her attending preservative X.X% azithromycin the a moxifloxacin including with This the formulations betamethasone the drops preservative medication. A and one drops study. ImprimisRx Loteprednol, hosted preservative with ophthalmologists and cyclosporine this the representing ophthalmic these growth these free our is most was provide drops history. house successful of Dr. tradeshow formulation, after share We iodine significant entitled and score by Tolerability easily in happy who greenfield for completely record of ASCRS C ophthalmic subjects Emulation. We're While are were business. in announced was over Chondroitin free Sulphate growth their data Dr. for reported this presentation to each L investigator its X%, social only and Klarity us. this Klarity infancy. in cost Klarity plus and in making Dr. our valuable night, were new number A and Last over less of tremendous solution drops have ImprimisRx on and to open improvements thousands in Matossian choices optometrists treatment. in the on patients. free that's povidone lead received another an ophthalmic of Sulphate, few who able for reportage one market patients. months our reduction meet markets opportunities excited multi-site pharmaceutical treat experiential new to tolerability and their in and potential staining the rely XXX After

eye peer the two eye post-operative injection be physicians Another There inflammation who University patients faster our treatment cataract regimens. He by for interior post-operative NSAID stating time study in Journal drop inflammation, doctor underwent Surgery. patients post-operative a therapy between post-operatively knowledge, literature a compliance Post respected Eye XXX XXX eye eye the concerns an was therapy pending be triamcinolone can notable inflammation of received post for versus using Therefore, statistically and And large of and peer long Standard clinical standard Cataract are procedure therapy an points study formulations IOP. our one substitute eyes its is a as the injection which the scientific intraocular covered the value eye the in and formulation for study Tri-Moxi drop standard a is was important. drop of the a infection of reviewed decreased ASCRS Perhaps and acetonide This tell at and which publication to in in Tri-Moxi moxifloxacin what the between publication and rate acetonide a intraocular drop to first Refractive The segment different Intravitriol difference non-inferior does this terms ImprimisRx represents item, treating on surgeons. anti-inflammatory use." dropless study the dropless study eye moxifloxacin corneal pressure helps NSAID peer a drop the group Linda patients story. not drop body our therapy which surgery. cataract of during most poor pressure our of topically. to assessing and the edema acetonide compared severity Loma group post-operatively with pace control triamcinolone Completely triamcinolone and non-steroidal comparative a who concludes growing of patent promising surgery eyes XXXX dropless and the without XXX article intraocular in along intraocular in Institute significant standard In moxifloxacin at real upcoming TriMoxi at cataract measured inflammation reviewed "Intravitriol groups performed review group. compounded at and scale why injection therapy and the surgery with high received showed a publication supporting of a with Tri-Moxi them. drop standard post-operative no along considered who the group a especially injection the that's results run, have appears received drop regimen eyes

continue patients to As pharmaceutical business unique first. build we puts that a

the founded our including businesses and and women's financed our because Melt Radley Surface Pharmaceuticals Pharmaceuticals exceeding of and focused progress other made that health but Here days expectations believe innovation. we our this mentioned the driving were XX because in few focus the about I terms of in productive businesses innovation. only are additional most and investments I a I Mayfield not past subsidiary our Pharmaceuticals, like Pharmaceuticals points earlier deconsolidated Eton say pharmaceuticals. by business

getting capitalization While we in currently as in projects I businesses and am you and these more them that these will be others associate believe we value our aren't to advance market price. for credit the hopeful we with reflected about internally learn share unannounced these our assets begin still

is I formulations there which made FDA proprietary some XXXX. to ophthalmology. referred in solutions Another largest The am presbyopia our formulation where the application Grail which are most market in Holy meaningful note on year as to and is this available. for to within progress It new the excited related is add perhaps about patent no approved and several often hope ophthalmology, we we filings portfolio of

innovation. quarters process We on discuss coming development our and to hope are I important the working progress our this potentially through in

with the Pharmacy Finally, last is New costs matters the new catalyzing work with also our XXXa temporary legal long we improvements an gross compounding subsidiary. the Jersey year facility making a California We're against margin of running in ophthalmology to did associated operationalizing promised agreement recently restructuring and year. matter our including last Board park reducing progress resolve reaching focusing we our operations

and of the being behind structure alternatives as are hope a it we corporate in legal that We perspective. gains we and of also process we so other reorganizing the final costs to related now are made we optimally we soon. a to and enter are consider profits and structure matter to park business. other are enter Progress stages can pleased a of is those outcome the related to generating efforts matters that last, our tax and on us strategic discuss phase organized the corporate now And our from

be finalized changes the part middle year. these to expect of in We the

a plans Relations The Investor site will story. corporate about our Harrow Harrow section and more at the great We and view shareholder learn presentation our the health do to www.harrowinc.com visit drive describing of the Web current excellent site and value. our job Please continue are investor of resources Web presentation. to

more discuss to turn provide provide on will new I I over financials comments. closing reporting Now the our before to Andrew? segment our and detail call Andrew

Andrew Boll

Good to everyone. time Thank the today. taking day our you join for call

experience during XXXX quarter ago, mentioned for million a growth the sales to compared in XXXX. year quarter in a gross gross $X.X cost $X.X Total we XX%. of of of margin the the XXXX prior million million Mark $XX.X yielding and a a X% of first $X.X the times. fourth to seen As quarter the Total of increase $X.X first first an XX% increase quarter a of of gross was quarter gross XXXX year profit recent continue strong compared of the profit to we've revenues to first and million the and XX% a margin from were million

quarters our few the months This ophthalmology care business was for revenue a strong ago. with driven business As ImprimisRx revenues XX chronic past we've almost chronic associated formulations. with ImprimisRx primarily was increase by seen growth non-existent care over in

we important part the have our a of and we revenue becoming more As resulted greater continue continue to we is continue. quarter more these XXX% more of and operations in year-over-year. million quarter we revenues revenue predicted from during of term. trends Operating of types expect formulations from $XXX,XXX recurring revenues contributing are to million the And will make order of have totaled the a expenses prescriptions increased revenue formulations care our queues, up XXXX. now add than first Gross overall to an chronic these our medium the part to $X $X.XX expect story of in which loss stream and

and in with costs our defending was Compared quarter legal Our and This first million. the million operating the we first approximately included reported quarter in quarter associated million $X.X of financials. loss year, matters. roughly operating operating expenses information of expenses we included $X.X last first settling the $X.X to segmented

segments. We have operating two

commercial Bradley at the level matters with business certain pharmaceutical being Mayfield. which expenses. our including operations segment is includes generally segment not We infrastructure those and as associated businesses. ImprimisRx which operations and our costs the First, company, setting our and of And such of legal and do the stage includes second generally businesses, compounding shared a costs include like pharmaceutical litigation up public costs and park compounding development the start-up consolidated other drug

also funding earnings and subsidiary become our them valuable business While to time, costs can we highly of shared segment believe startup associated quarter obscure because $X.XX with over was created $X.XX Pharmaceuticals we did investment or us and below call, Pharmaceuticals businesses provide balance compounding as Also of the quarter, is million for performance mark-to-market created as from on a will our our Melt the intend the earnings Melt March by contributed contributed the and on overcome transaction pharmaceutical up common revenue power earnings, believe below the on $X.X investment line on delivering resulted net operating expenses. clarity of regarding gains first being developing earnings the the a our we operating the adjusted a in income the efficiencies us founding, help the continue previous record segment segments. $X.X first helped the quarter new will million The a a our net price Eton gain With segmented gain operating goes by subsidiary of sheet. of in $XXX,XXX in Eton quarter consolidated to startup ownership which companies The on EBITDA second development outstanding and drug and compounding two per and our asset of share diluted deconsolidating now presentation $X.X this better of past of temporarily share is when of businesses mind, quarter we that with investment statement and consecutive we driven Adjusted these earnings the investors January million elevated XXXX, mentioned to in for first stake basic operational line. push which gain loss it pharmaceutical in per in month this of and income after of new XXXX $XXX,XXX. net million the for offset costs adjusted was in which the an produced which about over $XX.X income. team shared

a EBITDA. did As investment Melt reminder, impact on an have the and deconsolidation Eton adjusted gain from not

March new growing and continued achievable, And manufacturing XXXX of acceptance to the customer month trend by the our continue margins growing but to continued year, at in we newly introduction it the of never believe increase to be out and business we is to Looking will refills optometrists April towards strong primarily XX% ophthalmologists throughout perfect rest continue we of revenues the launched due and driven accounts, in we ImprimisRx gross expect hopeful the recurring has expect and formulations. and are on to side.

So be may the to XX% linear. road not

gross introducing expanding the the bumps small margin new our related That optimistic was in production we formulations should I'm and equipment the deliver our team continues continue, the medium believe over next caution gains are expected the room trend way. new processes term some margins QX. throughout quarter, these still and possibly that in will we that are expand in While they along year, did my systems expect we once or have confident to said to this integrated before the as whole we we'll gross over see the new

the to steady hold costs in the Our litigation year of continue second exception similar high be general and administrative expenses to first. of the to have which with will continued the relatively quarter

treat year normal our second We to bringing of levels. expenses operating back expect more the legal the costs half in to

our sales only-based marketing commission because and grow of increase primarily expenses our sales force. as to will Our revenues continue

deconsolidating pursuit closing now we their will as we expenses second segment turn begin subsidiary to to to Finally, pharmaceutical into transactions drug and I over start our take Mark increase Q&A. will our the we for second and as in our Radley take in half remarks expect of platform. new within the of our our Mayfield development year Mark? opportunities and the our call the prior quarter shape

Mark Baum

Andrew. Thanks,

Our We value track. every our team margin EBITDA, sheet value and portfolio balance our we business, in of deliver in we to metric of reflected is growth, nearly focused leading gross revenue adjusted yet and expansion, deconsolidated accounts, customer price. focused equity ImprimisRx our terms and critical believe and businesses pharmaceutical hold IP XXX(b)(X) is much ophthalmology there companies value our in and be market share to is that in continues

and who we more As vision expect share to business shareholders see grow of returns. create potential pharmaceutical for long-term and rewarded. we our will appreciative significance, am be the continue of revenue companies deliver to I shareholders exceptional our

these I my Our and stronger that confidence. my today's and been diligent make and more to of all also team said participants. their would gratitude efforts has your to With view on promises appreciates on Health never deliver open our employees of least that calls. committed certainly valuable. like Harrow votes to for continued they Through the hard as line we from in operator not voice questions Last the sincere please work

Operator

with take Brooks we'll question And Instructions] Capital. O'Neil [Operator Lake you. Street the Thank from first

Frank Takkinen

Thanks questions. Yes. had the Nice of on couple I for Frank start guys. year. a Brooks. to

that refills little you're it, XX%, XX% a and know or If new rest refills of the you not was I'd about customers, at you chronic said then, of of true? said you how XX% about customers. chronic bit. the you this care about And Is care holding don't this remember but touch hit kind this I the of correctly and was on I QX it QX I new and looking throughout year? to of to pace like also QX you're takes puts First, seeing some missed talk 'XX on if could

Mark Baum

Thanks Frank. question for the

who of are prescribing the the have prescribing in who formulations. we certainly we number that new - customers of So chronic are customers hit set a of terms number care target

importance in of become economic And that calls, as a that. we on sort of that see these Andrew in that get compounding we're refill alluded terms revenue more seeing our of growing. that the of of So happen. is the the the customers I This power we're and starting picture -- you overall important the coming of prior number to part as achieved team And quarters. achieved said will to

would exciting So formulations do part who only business the the our of to to it's as at There innovate well. presbyopia. formulations, also market is intend intend are be a care alluded well Once as care segment to not enter of but called of who these presently. terms patients new areas large number in that not we chronic receiving in another in I medicine traditionally number within served an that we grow to ophthalmic and those customers what intend chronic again all and prescribing are that we ophthalmology very are that and of

Frank Takkinen

That's great. That's helpful. very

how -- total in maybe internally opportunity, going kind you you overall five think I'm on how could to or scale are business how the participating where get markets and are say years? and viewing that's three penetration a next in guys of you different guys your that of to you going aware guys curious ophthalmology just of large core Secondly, market your to these all

Mark Baum

Yes.

overall in billions. is for not We're FDA our the of opportunity selling approved the certainly market terms in medicines addressable So, approved the market business. FDA ImprimisRx total within the medicines

they who from really dollars patients accept medications. deconstructed for it's We we've existing buy the value We're a the approved of compliance that So, we people a in the chain within quite can't with Patients we brain physicians the rates serve marketplace, as efficiencies But those and a FDA us. you medicines offices us. of oftentimes damage know, saves We is with folks. the lot patients with creates more. and It We're unmet our market little all don't near which of afford make their and happy serving a in. middle those certainly overall play patients. same challenges staff different. account lot for their segments or the addressable when insurance medications, have penetration that billion needs challenges bit

great job. can So think only We we're doing so grow I fast. a

think I been rates growth tremendous. our have

team tremendous. is certainly doing ophthalmology within an is Our year-over-year amazing XX% job growth

think our And a of service mentioned can terms levels we expect. I scalability, at that that the that chronic segments the So growing really customers a that example continue we lot I the in for to C of formulation. we're Klarity of in, rate deliver within play we in care, kinds of

at really that very, very we can the some are with the We infancy in of our of the value let that create are formulation others alone that that portfolio. one

many is business at our So in infancy really areas ophthalmology. is its within

from the beyond you CapEx in we fact And calls infrastructure was well answer $XXX as system received can resources our from the actually that our revenue million that mark have have the note to quarter of CapEx, we scale customers. the so low our was for targeted. infrastructure most fairly that or CapEx hundred our this all business our We we physical phone the certainly that a

over So business periods. It's coming is see is its as scalable in doing infancy you'll it and certainly the well.

Frank Takkinen

line? have well how and to Okay. in us see an line next you That's I the variation Can end year big year you scale sales could then, little you think force or or just of on how as start we as marketing much the the that sales about do through the SG&A force update great. sales more, is? And give two bit. talking current a

Mark Baum

Yes.

the I exact board know number of of folks have So, on that force, sales in our don't we now. terms

have a the I W-X sales of force range now. they're It's those doing XX us number at handful year delivering. the of we been terrific is I do people that that long-term a our integrated mentioned Our grew job that think ASCRS last force folks XX with a the in XXXX lot I terrific a and well-trained meeting and job. to and same. And with met committed a is actually

sales integrated biggest as the couple well. we've quarters that think the internal that an in has force also we've made of been I last change

we So and there's W-Xs well. process folks a XXXX sales that also employ using inside as

think over a of nice integrated terrific sales variation periods the I is coming force. And So, variation, the we've about got terms in a and us. that for really strategy asking delivering team you're within

and I and think to job in -- sales team and within practices to the our they're for start that rely us. continue on that presence do see I we'll to doing more think they'll more inside a order serve scale that we'll our we great

Frank Takkinen

then, And litigation litigation what kind provide of timelines with the major us resolved? novel you far front case thinking can Okay. on other on could updates And the non-novel Allergan lastly, when go be as the you are other any as that specifically about how that's and drug?

Mark Baum

as to I've quarter as third to year. on towards of beginning Allergan matter the and and past Andrew Well, charge the cost the specifically strategy to that I to along the really get as and Starting our resolved promised back not than damages continue continue Pharmacy said us regards our and resolve as in with resolved have few were confident matters that see those Allergan we're a has tick-off activities. is we're say costs actually relates these to it not I the moments those ago it I alluded And The start of half and suffered going starting last here the to Board said We you'll at matter and -- the think that Sobol that them in believe was related we We we're other that it a to comment the in we're call, we case today. trial those we and that in hard to matters to of matter. prepared. behind numbers reflected our I delivering. the goes, going to to the cases with the connected to matters

damages to and any So going is about, to we ultimately that's they're matter able damages. suffered the that don't they've what think be show

Frank Takkinen

Awesome. That's guys on Thank very congratulations and you helpful. QX.

Mark Baum

Thank you, Frank.

Operator

Our from Please comes ahead. next FBR. B. question Riley Andrew D'Silva go with

Andrew D'Silva

taking Hey Thanks good questions. my afternoon. for

you Jersey when was between I about Just in for facility I the curious the I'm noticed And what the outsourcing ones New talked here. may your right quick I state? in And a registered to steps was couple next sorry, facility got this just get bouncing missed California. are and A I now calls, But of it. timeline have registered

Mark Baum

California to our California we license is really we that authorities we there's that's can that in. extent in receive and no complete and question the stand to do. we by a anytime, and thanks it. expect way when really so Andy the inspected and application And we it's Well in with predict But my understanding great ready at is, application have that we'll for the be

Andrew D'Silva

So on just the end. all. everything It's at really your -- if bureaucratics is

Mark Baum

The have awaiting anxiously state for us. are to And inspection. inspect that them. We're ready we authorities

Andrew D'Silva

Got it.

it trying it was on to you a what or but Okay, was? amount -- said is last timing from valid. amount I case, being perfect. through total to Can memory Could monetary standpoint, I where standpoint. order that I I one just failing relates little Allergan recall me related I'm deposition And get strategy going anything my as a the now, I the a of as that to of bit half transcripts not right expert but very out believe this that the significant. was court total refresh what -- was, that my remember memory they not damages forgot you before from came

Mark Baum

were damages their only expert I their damages damages on expert witness their really was said million. was that believe $X.X it who

Andrew D'Silva

then, that spent me, saw the in bought XX-Q, just final right the going back they But CTXXX. legal through question Eton's And okay. X.X, I you that fees. to more for was than

trying going on reversal strategy curious on in build for what would forward. you spin to there useful? be and what that color it? Just cause Just the the another a around is with candidate was the Are

Mark Baum

Sure. corticotrophin away moved from think assets. development. rights to able Their acquire that that formulation I developing Eton. equipped kind to We building sorts And I to strategy of the we're that the were synthetic think from are those of handle businesses

speak billion about is considering it's medication. we is important we it the a we sold dollar there As faith believe compounded Acthar formulation to to knowledge But potentially Mallinckrodt that it's you strategy dispensed to to do probably the how a asset we we a think it's need have competitor and been medication what past the compounded do in intend potential some the we're in that. and go is which performed to has -- that formulation, know, the now we've the and in Gel FDA that the medication, of as

Andrew D'Silva

with Thank Congrats the quarter much. catch up you on fun. and I'll good very guys. Have

Mark Baum

you, Andy. Thank

Andrew Boll

Andy. Thanks

Operator

ahead. our And next Retzer Please comes with question go Patrick from Retzer Capital.

Patrick Retzer

Congratulations Good a wonderful gentlemen. on quarter afternoon,

Mark Baum

Thank you, Patrick.

Patrick Retzer

about significance talk for about five of you talked in those Can recently versus portfolio formulations the ophthalmology current You your offerings? new of area. introducing

Mark Baum

prior but large sales exemplified as large revenue stock another been there I'll and formulations. been being once a able a XXXX, out market in formulation, that lotemax five of what we Sure. But and fairly market others more, launch example of that it's formulations, have Klarity for a them for XXXX on And something our not is touch now be expensive on. we period think These don't Loteprednol large offer we there's by unique tick, But, we azithromycin than up other impactful medication out formulation ago customer deem quarters is has a appropriate one were see products, it's even patients affordable be also to of though will it will it's of million historically now branded we but and it and a consistent launch their five time. L want base, those newly the Azithromycin promised it's opportunity, all, are -- formulation a performs it that to been will said with plus I'll $XXX But would for that as facing touch about who and prior I instant be out There are formulations think would patients formulation we it physicians over of Once It Loteprednol again, we're these unique for the competition. couple have our formulation have they required or they will I we historically that stock. and again we authorization the not two of are when authorizations. more serve. get excited and first be no available. that launched we have generic something builds launched. it's a may a perform.

we've we to those or formulations they we L and the azithromycin launched, revenue have it's start other from we'll Klarity these a that A whether an think coming Klarity any ones of expect formulation or the over has quarters So base wanted that said the we that audience build formulations.

Patrick Retzer

Okay traps that's been you various checks with anywhere great. ophthalmologist folks. some the I've done with able to of these -- these of channel actually that said have haven't find formulations they

What terms for year if of rest should in that. So new anything for the looking be congratulations we the launches? of on

Mark Baum

intend to Well, bring that the products quarters. we to we a few coming have over new market Patrick

in you'll so who use excited problem and and I that in I tremendous. working us the we call problem a say that for our And to of recently the to have But, I'm near are served promise a large think that a that could impactful. there many said very of of And there it's is would eliminate first other patent that done I continues hopeful be hopefully to application past. on coming we'll needs over It a are think interested coming parts not that's we to do we're formulation And going years be in. is quarters and the is surprised in potentially It continue over the business quarters. our the glasses need the and on It's have all be vision focus that order of and we we to a for companies the us, to being filed it family are market. is drop in number that that able we've for on an something as use about lot about that presbyopia of are interested things work years. really I myself this that see have talked that's But one be about when single our eyeglasses well that and area exciting. we been very on I a program. include and reading that there is really at

of able hopefully terms to pricing we're that deliver on. In

and got to pricing stock that outs. at price and a do think hopefully mention and our point. by it'll in these innovation Not we excited we're the be of some reflected of all So lot in about of upside the terms opportunities ability spin way we've our to

I innovation, don't want to did work our we of there. terms that the underplay In

have more really learn We to and some you'll in well. exciting coming programs the that that about as spin quarters we intend out

Patrick Retzer

Okay, great.

Mayfield this You in you anticipate Radley do those of happening area? mentioned either the and deconsolidations,

Mark Baum

hopeful Patrick we're anything we'll we happen guarantee We're that make to can't more talk about going hard and to this but certainly hopefully work that summer.

Patrick Retzer

great. Okay, the keep good up Well, work guys.

Mark Baum

Thank you, Patrick.

Operator

turn Health like it And appears there Instructions] remarks. further closing back Baum, for Mark conference no questions call I to [Operator time. of Harrow to are at the CEO this any over would

Mark Baum

attending everyone. Thanks operator. you, Thank for

If Investor direct will you Jon you. have Patton, remember number XXX-XXX-XXXX. conclude call. our please Associate, related This any contact questions to investor Thank our his Relations

Harrow Health (HROW) 12 May 192019 Q1 Earnings call transcript