HROW - Earnings call 3 2023 | Harrow Health, Inc.

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Operator

Good afternoon, and welcome to Harrow's Third Quarter 2023 Earnings Conference Call. My name is Betsy, and I will be your operator for today's call. [Operator Instructions] As a reminder, this conference is being recorded.

I would now like to turn the call over to Jamie Webb, Director of Communications and Investor Relations for Harrow.

Jamie Webb

Thank you, operator. to Quarter welcome Call. Earnings and afternoon, Harrow's XXXX Third Conference Good

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

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

list quarterly Securities and the on XX-Q annual a uncertainties, report the description section reports and filed XX-K with most risks please Risk the and on recent For Form see Form subsequent of of and Exchange these Factors the Commission. company's

financial or information whether any update or Harrow's accurate or projected. Harrow future time-sensitive information, conference results disclaims otherwise. as of any only or is from those events This may call obligation to differ of new projections contains intention and forward-looking materially revise today. because statements,

are refer will and/or earnings, such financial per well metrics, included to specifically, adjusted which income reconciliation results margin, adjusted of as diluted of as EBITDA core core gross company's income the net in non-GAAP earnings is on as directly most core stockholders, net Harrow core release Additionally, and measures both A share. letter GAAP any non-GAAP the the measures comparable and to website. with available

received a copy By the now press of have you release. earnings should

Relations page please copy, www.harrow.com. a to of received Investor website, not the have you If the company's go

to With Chief Andrew Harrow's are L. go Officer, question-and-answer over Mark me remarks to Mark prepared call to the Baum; session. Boll. and like today's Financial prior Harrow's Joining I'd to the Mark? turn Executive some over on Chief Officer, that, call

Mark Baum

Jamie, everyone today's call. and on for to us Thanks, thanks joining

you of have encourage section website, want third XXXX to to the and all Relations remarks, to earnings www.harrow.com. quarter to posted take presentation Before release, a which minute my I been prepared our stockholders, corporate review I of begin Investor our to letter

it. Let's jump into

may you have gross we record margins adjusted revenues and meaningfully. As improved seen, produced our

to quarter actually what exceeds showed delivered. that this far our ability past create value However, we

let we have better. So done me clear, be could

I development would never not Today, for knew As has though, a have before, we we knew time our past some lines that behind We overperform a our trajectory said months would the some XX over upward. and path internal underperform. few some of growth find our years. programs It been that would linear be ourselves programs.

continue, we our simple. correct the forward, though, is As to stockholders reality and move for Harrow's course business

and need core of markets. that products level of servicing only past year products, like profitability. a alone. that are debt growth testimonial We produced am most growth on strategic produce creditors We're bad, in serves could pharmaceutical the solid and That to I reservation, this including expand That year-over-year XX% compounded decision by was a We of it that another as branded improvement well a into growth achieved and record proud bills, represented we rate access that well companies would have our as we're to gross isn't fueled funded. to basis what and revenues we making as public our not our our of place paying it's to validation record a point revenue Without we're track growth or XXX we're XX% quarter, not year-over-year decision. money, don't equity margins. with be.

stockholders, our which of which proof has launch. our our the in point we progress tracking the demand since been on ramp-up quarter our forecast A graph shows I'm letter is significant to its included ground increase also targets pleased in internal customer launch, to strategic unit a for ahead with IHEEZO May from September, and surpassing This in customer for our IHEEZO units and positive demand XXXX. on boots internal results in ramp and IHEEZO for resulted and continuing tweaks learnings notable date. that revenues in beginning the third September yielded immediate

XXXX many now seeing IHEEZO, bullish benefits are from enjoying high-volume users sizable bring year of and reorders about We for orders will we and this are the balance accounts, many well remain the small, both large as what and of new who as IHEEZO. and

and Fab compounded I hand, of campaign, presented again, we challenges. reimbursement we our the were Five the support payers. seeing other the in to and that third-party ILEVRO, earlier is acquired this we in efforts. have efforts strong from detailing namely Fab and letter though the is are our revenues completed data no delayed this One denying prescribers new our NEVANAC year, Once awareness reminding transfer Those Five the there has date, sales touched X beginning MAXIDEX, products. products On begun, from we and Even products XXXX products availability to X of QX though VIGAMOX, from these the that marketing on stockholders. positive and example lower-than-expected of of

to customer Harrow's of for provide we to to believe because continue income the and believe in importance high but years stream they utility only We come. products a our for base branded these for will our many portfolio of not stockholders, their reliable also

manufacturing, was improving analytical capabilities, sales as our challenge infrastructure. the makeup compounding in and our and as business, to related QX of well efficiencies which underperformed our care as testing team our quality invested compliance systems, customer Another we

Investing and making compliance investments to complexity historical We standard the serve in and but business required returning XXX% confident a past, in few market the which that processes achieve. competitors and this have a will again. with, requires reliably level to we and happen national these protocols adherence comply we of I growth success that a can am levels, to and XXX% systems, a importantly, have of record had in to invest and efficiency the

the which awaiting had I TRIESENCE, Performance and first that short. for we are that's batches, Fab product the to PPQ that view from update I'd Qualification Process of those diamond the also results quarter the batches completed as reported had We this like were been group. you Five, on X of demo fifth in last batches

While tricky is last which we the years, was we batch not our product to that end were frankly, TRIESENCE out-of-stock story, fact X the naive unexpected. is the not meet a not nevertheless and to manufacture, that for disappointed not But did of entirely of all about this its this contributes first PPQ the status most specifications. were

year. TRIESENCE working manufacturer, contract diligently our said, we committed available are are next That and still with to we having

also the for of that TRIESENCE in expect care stock in the New completed professionals time or on pricing and Drug the first transfer us eye are and who progress their XX will it thus Application, patients and We the which NDA, to awaiting making more its we than for adjust TRIESENCE soon, excellent allow available keeping reasonably are to have years, return.

if our not win think be TRIESENCE matter view, and availability, of is it when, but market that we Regarding in year. a frankly, will next

eye believe weeks. again, to be a alkane patented long dry It's VEVYE, the market current care product. Harrow many semi-fluorinated continue results the FDA-approved launching professionals profiles can choices. FDA deliver cyclosporine. that once product dry is VEVYE going the X.X% medication, SFA topical and VEVYE, disease. pharmaceutical treat a it without fast awaited recently a sustained clinical associated patients eye to symptoms opportunity We We and annual of both eye few for adverse of or like in event product a and the have that disease effective, signs future a negative with it's We're contains is approved that water-free believe largest to

upcoming preparing prescribed not a years. of have patients power most agent. of And believes cyclosporin as surprising, ophthalmologists who it during cyclosporin therapeutic of given past be tens This of for in the optometrists the millions the U.S. strongly that launch VEVYE, has should evident been the XX become clinical and

of puts is is the in class really wait different This patients, second VEVYE VEVYE and and of its own, from vehicle, approaching. the offers it cyclosporin. their currently its hands that of only a get patented ophthalmic and because concentration to available available the also However, the in of the day delivery the highest benefits can't product into fast VEVYE the only cyclosporine-based I community water-free because products, and but not market, of U.S. many comfort the

and adjusting we guidance expectations expect $XXX a the XXXX few remainder the Before in for our questions, behind, call milestones which of what and open only the for business you of opening the we planning XXXX some next in remainder to our continue execution this wanted bounds anticipated Many sales XXXX will it reasonable profitability in our unfolding believe year of in successful expect to partners you the base the least as is the to million could of XXXX. But remainder through we're you launch progress the of updating growing business a the at as big we never at for outside timing land as public of we XX $XXX of of XXXX including our but the well Therefore, guidance. I of and level If of of objectives, remains we our Regardless, and journey, been million. days what giving to future as visibility balance range. cycle, have continue our year, revenue or for we're financial fans higher but to end mode direction revenue we XXXX, a we favor, toward this guidance in not growth had discuss need about giving a our our solidly guidance for the this into case. of be our XXXX. IHEEZO the stage XXXX. Because X-year includes know, achieve

adjusting acquisition. the and We with to are coupled a million, costs with estimates of to launch VEVYE investments million $XX associated because XXXX the of adjusted acquisitions, needed lower preparation onetime EBITDA Santen the also guidance integration for $XX with our associated increased recent of in revenue range costs primarily previously-issued

compounding any The we of the Five of will the depend restore to contribution $XXX many of to levels. be inventory, including XXXX growth our revenue recently-acquired TRIESENCE beyond As north first the XXXX, our million growth magnitude IHEEZO revenue business of factors, the the Fab historical when we from million. expect the recovery TRIESENCE, acceleration our including sales from on growth Beginning revenues expect we moderate and launch products, for FDA-approved how XXXX, of goes. excluding in $XXX quarter and VEVYE

launch. increase we business structure to From VEVYE a incrementally and revenues operating expect scale our in the cost as we invest costs grow our perspective, to

We should be maintaining our debt over in our investing and That's continue EBITDA, below expect adjusted infrastructure ratio. leverage to commercial that while Xx.

we and with XXXX sheet, to to in creditors, confident significantly use We a we are stockholders a our do balance we price the dilute as expect cash during find a with strong our transaction. not stock to expect unless inclined where to equity given less our currency. obligations But remain We increasing period. close transformative is, meeting Harrow's candidly,

We questions. to are happy to answer I poll have our for pause operator questions. Operator? your will

Operator

Markets. [Operator Capital question Brooks O'Neil Instructions] first from today Street with The Lake comes

Brooks O'Neil

comments. have highlighted thanks ask Mark, reading have that. you I just of a stockholder might I for completed and deal to confess, that are and letter, to so about detailed with all not your in I the letter we'll have the things some

I'd you asking IHEEZO But to by launch. about start like the

give you is One IHEEZO maybe to of saw you've adjustments yielded improvement response plan that noticeable and some could some marketplace, at you what you changed as in that some result? in that about your important of made the have a things the the I'm least qualitative seems color that some things hoping us and have

Mark Baum

Thanks, Brooks.

the We kind our strategy, the of to our implemented really strategic also to strategy go make by some specific things launch late did stockholders, and potential into details to competitors. of in the September. but August, I were tactical can't strategy amendments

in into last not is tell wanted the major numbers to you success provided they is see did, that changes fact, we and think, see earnings and but this a that we thing quarter. important we some validate that all of ramp and lot numbers when the that we so I can I stockholders only us is provided importantly, I changes, the think fourth know provided were And after the call, made I numbers we we these that's the that, spoke made, to important. get of them. I that accurate,

the expect in of that do that a that and don't we continue yield. meaningful to in seen demand beyond. through We continuation we've this expect growth ramp, quarter, XXXX think So of and and IHEEZO will balance unit we

Brooks O'Neil

Right.

about always the some I in following the switch X, little have company X little just me the you know now, and Let years historically, bit and a weakness gears Fab we've time Five. the a seen that there? the come compounding and that compounding I it's for bit your you been ask business business about But Is pause is there and describe business, anything in would or still believing this materially that variability anything remains you durable back. about different opportunity the compounding as that growth gives

Mark Baum

Sure.

The business dissimilar issues referred I we other that of letter kind from addressed not this that issues compounding discussion and are in addressing the to that in the past. stockholder were a similar we've

So we overcome we investments, improved. those were we those organization, able challenges, as to made an and

Our accessible far, allows we're us We difficult. that and of because cash our give hugs and walk There's the their These our It leader. lives affordable. offices not mission they even It a us instead credibility. to by we're gives important. us compounding products looks are and is into making weird business more products, meet strategically national to are pay make customers' question. also

It getting though. they're is be changes, have not Regulations an change, prepared absorb and a those stricter, of and easy we that, as to do. result and to business, generally we

non-FDA-approved We handle picture we that products, manufacture are that things. have. to that those reality compound we we to I would that for these shift smaller we reimbursable, players units the we and manufacture, so super resources the it's and sort pay, processes want of the have we place. the to cash is growth take referred to stockholder of is we and letter, not a to FDA-approved compounding that like are creates We units is strategically a time, over our do and as taking in business. to the is, that as that challenge that exchange units, many branded to overall going don't that have products cannibalize the have power that move into have But people, for It

that first will compounding have said, the confidence beginning in growth the resume That XXXX, in in do we our quarter, we business.

Brooks O'Neil

That's good.

with bit right me as about comments little debt, the know term issuer. is, in Let I quarter you accounts the different. X little as the you receivable outlook ask some B. and for quarter? just And with shortfall about what But your with lender a Financial Riley marketplace the relationship B. there's to any about here a your is, Riley in the on cash to can guess, a bit first business? your we your the the don't questions for they're debt cash flow and concerns observations then related get year, fourth outlook comment as and through I but the

Mark Baum

take take would of part great. second that Andrew, first if you'll the the be question, part, I'll So the and

I might And for is But lender banked have phenomenal of a B. Riley, I cash. that company. not to to transactions produced several clear, the for plenty that They've us successfully, we because us. of results with add. confidence, can be They've say it's

and bank, stockholder we cash pile letter, I to XXXX. expect that in grow million said $XX over the during have as the We in

the B. us, all. they Riley us the for that and for transaction. at a work to not are direct grateful we're lender simply They did So bank

want on you the second of do comment part the Andrew, question? to

Andrew Boll

Sure. Brooks.

we've also them we've with been company flow we that cash additional for cycle. the on And the revenue have in buying more side, these type in side. than particular, and them IHEEZO, able -- about have just we management just cycle receivables our and and AR talking terms, AR because on extend cash branded helps so particular, and cycle of products, seen we a On customers the their IHEEZO, different to introduced

to out means the a are our historically little is ] have us, side lengthened branded companies [ compared collections bit seen. what that other on For

seeing out receiving the Just business. that cash AR be in million will the kind then company side quarter, of report, $XX and looking this particular, QX the on and in Asian AR million at we're I'm to addition $XX we in branded to collect that able receipts over -- and be on should the

with AR sort this seeing cash going I compared start more, a term revenue initial think these of branded around coming products, bit turn AR we the gotten should a receipts of of less more so branded we've products and through and IHEEZO the spread to little And the sort forward. larger with on and in launch

Brooks O'Neil

helpful. Great. That's very

asking me Let but investors. I you for many, an for ask And just apologize time interesting for and so X more. it's you

unique potential My first the I give characteristics peak better the I of than question a sales the know is, of us it's it's can you competition. certain got of any sort know estimate drug, VEVYE? clinical

see do VEVYE as you So opportunity the time? with over what

Mark Baum

Sure.

VEVYE past play higher. should it and It's to revenues, overnight. that $XXX the believe north could a annually we happen million in should to said generate It's in much few that going though. and we've out, be years going take Look, of to not

prescription is to have opportunity overall When market that if category. new in cyclosporine products, you expand market and RESTASIS. overall look the you actually have some that, the The the But into a The view, Xiidra in we fact had only I dominate expanded. counts market. to cyclosporine we and, more RESTASIS people's category, the better the product at than market, the the cyclosporine-based opportunity, relative was the product believe, the came to for

fast it's data out and symptoms it like believe that and the provides the product actually our that stockholder letter, look relief features that it extraordinary. mean provided in it fact we I VEVYE, I weeks. both that offers, now of a works XX sustained And the going so signs at

could it be than So expand as X-figure result, going further believe we market, And product we be as a think a launch. this get much into the definitely should revenue the product that that and is VEVYE to I that annually. higher

Brooks O'Neil

X your last about ask But I ask Great. let me with me. patience and more one, offline. appreciate you just that I'll

I have that the And you thanks in sense month what again, Can for had seeing or those from products X comment past sales questions. NEVANAC some ILEVRO some specifically? X. on my improving and you're taking

Mark Baum

Thank you, Right. Brooks.

said that in and the our the We launch. was I could IHEEZO agree to IHEEZO letter letter we provide that the you in that for company stockholders outlook victory look fact graph the at in we the a on So line our with will that mission-critical changed stockholders, improved launch. provided the hope, sales. markedly stockholder IHEEZO needed to for have like we execute if evidence you

And victory we and our that the are on had we was think that critical and way so to direction. in are achieve, right I that a things going

result, As right a commercial ILEVRO both away and to assets deploy we did decide not NEVANAC. for

I once coverage good And so in an side immediately X to execute About would as the we things. do reminding topical non-steroidal of them only market U.S. products. question share again, prescribers, not we what volumes those provided of is, ago, we as we And to weeks market of on letter again, fact, of of deploy the we in that began pieces the weeks the that We NSAID X in actually news And resources? we saw improvement did. but information access prescription incredible immediately, we the said once use nearly our on provided market insurance is or anti-inflammatory marketing the ago, the our did we to strategy, began overall stockholders, And for the product the the these to X in exactly existence do.

on look products both you the the at if X high think single we're in weeks. trailing so mid- X-week digits I the over to up last And data,

And this very look, it's early, positive. is but

that it to to believe what little may late, and strategy. continue continue be to seems were do we we working, a as said will do so but And be execute we the we going bit I

Brooks O'Neil

color. I it Great. appreciate much. that Thank all you very for

Mark Baum

Brooks. Thanks,

Operator

Cohen comes The with Ladenburg from next question Thalmann. Jeffrey

Jeffrey Cohen

on questions a So end. few our

meant guess, the pricing holes weeds talk out about little the letter without value? VEVYE, identify did much strategy getting of firstly, shareholder -- on too some to I in in I that a your bit into the folks see calling

Mark Baum

Sure.

the is it the have here which market, approach the that water-free announced we with is [ not and I product more information pricing have priced VEVYE be competitively launch. WAC for other What tell coming the We for the of in about sort we'll you [indiscernible], pricing in so will the weeks VEVYE. ] can as

itself, extraordinary concentration terms is an the work. product. is to it product of got known In highest We've cyclosporin. of the Cyclosporin

these If eye, put or you if RESTASIS product and -- the will eye, and our in very other different. in feels prescribe put see is data your cyclosporin-based have completely VEVYE that from products, your other our you product products extraordinary. you is it, they you different

we data extraordinary. about I the that provided market understands dry in have anything stockholders. who to I encourage is anyone data. So look letter eye would to disease our that It at XX-week

strategy of we're begin revenues strategy we're generate going a weeks, we've quarter, first in great bang-up market VEVYE and fourth and access few have to data, to that's for So so a our got clinical commercialization weeks. the in going couple to going a in

Jeffrey Cohen

it. Okay. Got

And like maybe, forward may couple out? it past it you on that result efforts launches delayed months to could Sounded that Was parameters lessons of carry accidental the spend a marketing was as learned and from potential then how to that Five? And well in some there. target of came which Or learned somewhat quarter? and a of IHEEZO perhaps into then Fab of more kind on the VEVYE, as carry lessons recently? over

Mark Baum

Yes.

of first product. all, IHEEZO So is a buy-and-bill

strategy So different our access is different market and with approach VEVYE, the than they're the Five the from to IHEEZO strategy Santen or products. the very and frankly, both strategy, commercialization Fab the

the would to with to Santen of and many grow revenues strategy Fab Five the streams over those grow produce years. So incrementally that was and cash

products is just that I for Santen we Brooks, same of the it products. detailing will be Five, simply around Fab for strategy our of And working the true marketing think appears doing little a so as some and said bit and those sales the to

TRIESENCE. long stockholder product creating of And X IHEEZO, the But IHEEZO in is is it's it VEVYE. value significant term, the over that is terms to similar

so IHEEZO not, they're and different. to although probably buy-and-bill is both resources sort they're many J-Coded will products, products. is and both there, buy-and-bill TRIESENCE the TRIESENCE. out we product need a all get very and word they're strategy are so about the But they not products, new So of

to that? Andrew, you want to do add

Andrew Boll

think Mark, No, you I nailed it.

Jeffrey Cohen

it. Got

Okay.

then a quick more And couple ones.

about first talked that Any half second narrowing of work thinking TRIESENCE some versus [indiscernible] launching for after to half? You XXXX the is of done. about

Mark Baum

purchase and $XX What down have for is it price over we And million, TRIESENCE our triggered have I inventory. can the slides time tell is we price you payment purchase is do as only not the is triggered, only once that inventory.

purchase to January our NDA to is they have goes all the We depending price for love million. have. to is purchase price a $XX we we the once have more, do, we pay million frankly XX, $XX sufficient us, our partner recover good and that inventory, $XX $XX very because $XX from perhaps we'll even thing. would and million purchase much inventory how substantially price our assuming of so I million, working actively inventory is on can that million which tell you create ensure to working not are to diligently

don't But happen. diligently market this rather to want right TRIESENCE January around expect later. for right having make of So we'll as We and more don't highly in we XXXX, that is specific have XX said, but that our it be to it are it And we've for we about we've we're publicly are expectation the we to have now what our XXXX. though really I before the excited confident year. more sooner inventory product. paying in done that that I said like working partner because now, is research to -- have sometime during than would the us mind

Jeffrey Cohen

Okay. Good. And one. more X brief

end? system? you You end as going ERP of of part far the consolidated mostly the size leveraging to is being billing? the as on using back with And regard had on Are as mentioned some X what's back-end that up currently systems. the Or business back

Mark Baum

compounding side on branded On both? side, or the or the

Jeffrey Cohen

the Across board.

Mark Baum

know we want platforms Andrew, or specific that I you do Yes. software tackle don't one? ERPs. that to discuss can

Andrew Boll

a Jeff, ERP. we're on single

additional just the pieces side from we're But ERP, quality side. the some tailing implementing place, and most off within CRM on perspective to the bringing that going and the in on chain, supply are that of is company like We of and for part, brand it. and that for infrastructure through the example, kind just and in updates

Jeffrey Cohen

I it. got

Okay.

just your of scaling size So the the was business as comment basically works up [ ]?

Andrew Boll

right. That's

Jeffrey Cohen

does for us. it That Perfect.

Operator

next Mamtani comes Riley. from question The Mayank B. with

Mayank Mamtani

keep to it try short. We'll

million $XXX have million. you IHEEZO. internal $XX that expecting the you revenue transaction? say IHEEZO. help the So targets or quick to What's understand clarify that? range just could XQ for components ones X accretion XXXX, is $XX It XQ your new your quick me [ looks of to on maybe When follow-up And those like ], you the elements? some XXXX, and some it's million you And for versus be down from IHEEZO about of break tied Santen I on might If could a then guide.

Mark Baum

also in QX the to think XXXX? that do cover confidence, XXXX and was Andrew, I QX projections and you it. want

Andrew Boll

can try. I Yes,

the it into in capture first but have But half get XXXX. going for pretty to about through can potential good a confidence, Anything the away, we're in range. the on on if good obviously. pushed go higher ] to realize mentioned the working feel is kind up they of half. that halfway out large. They there's Just to QX, confident of We the the And that. the and things It we're Mark the new that we We're as we about couple the of in we're put happen second fairly range. regards numbers. end we about feel going [ feel quarter, letter, the

but sort that going the Mark year talk positive big, continue a strategic the to to about going it's future. In going this I to financials between of regards -- in accretive. revenue the be -- Santen and portfolio have be we and incremental it's an not contribution to think year, impact to to It's be the perform. can driver your on next it's be transaction. breakdown going expecting kind in going It's big between products and Santen of to of IHEEZO, that to we're rationale talk for

Mark saw the we -- in quarter, talked call it shareholder of today we last of seeing continue should as ramp on and about XXXX. we a to in letter, QX to we're and expect where increase end that the see continue at the kind IHEEZO, lot we in

contribution revenues. we so continue next just as major IHEEZO should product And from year grow a as

want little bit more? Mark, do you comment a to

Mark Baum

Yes.

we out basket going a was $X terms million the Look, but we great paid It $X what office, from of role assets. to us exceed really -- VEVYE paid upfront. upfront to to VEVYE, rounding affecting we portfolio, larger the a and we million it's in what for $X is the is the going for Santen branded connected expect for prescriber's of produce company, risk. overall play paid allowing and Santen million low very the far also paid Santen to what value ROI. our it, the We in

some that you scale. So should give

great to is opportunity We're going larger for think invest in much, invest the market significantly us. VEVYE to a place much And that's because I resources.

Mayank Mamtani

throw can I Maybe together. my X questions

So quickly. number one on IHEEZO

billing office. letter, a that a CMS On a somewhere the [ that drilling to physician's for planning to has historically clarify you not separate you're policy in meet with stockholder say allowed ]

offices your you sales cataract [indiscernible] to are where offices, into anything of specific translate that unit revenues? now sort could tracking So sharing? recent and that's we surgery related with that clarify you're specifically? to is demand just you also, What And seeing if there metrics are effort

it's Anything I there. of with to [indiscernible], resources early just excitement you the seem lot a know what -- but be allocating VEVYE, [indiscernible] lastly, then about launch they said And with there.

put context opportunity VEVYE? also an data So stockholder chart the they you Could put letter just stockholder could there XX-month second, are have your that you You showed letter. you just believe going learn and you share? of that I doing clinical your from in relevance in some in to have what for

Mark Baum

Okay. That's X or short. know think -- parter, where a that's tackle let Andrew, going I me and X it. try a I fall so to I'm

is me clear, in the As far as outpatient CMS goes, hospital and the department. our let and ASC XXX% pass-through intact be

buy But It through. stockholder will there ophthalmic letter, decision category, pass in are extend not we pass-through. We to bill ensure that are, as actively I said products have up be be in other that extend can to are that we CMS. been the up this that to their pharma the are able That and working in will category, to us.

with do that the meeting the clarify of fairly that expect. into this, we really of upward I will, the think, impact value significant That but I and I on market we be on with coming said, are meeting CMS a are And potential up and meeting, outcome to selling think we why seek of use meeting, is that have that that's going specifics we on the we're happening. JXXXX the CMS. asset, soon, office. have in reimbursements to just comment The depending can't physician's

the So near we we're decision-making, once that term. again, meet but excited in don't with fairly CMS to control

and other alkane [indiscernible] obviously, terms of [indiscernible] VEVYE learn is product, the In SFA what product launch, the the can or we to hit semi-fluorinated from water-free market.

fairly a I it has think, successful I [ your I experienced believe, you've think eye, you ], may it, put product. a had BNL even, have it's great launch. And in

will patients. that many, So we to there prescribers cyclosporin their experience. have We think from lot on that that can a board for learn will want many be

dry decision, and if not or have make you're of product them, And aqueous physicians, not that be if for a seeing a has concept other ] experiencing for evaporative marketed would [ dry is and I to whereas eye. is dry would eye. patient know do of submit you been all physician used sort [ most the patient aqueous ] that The you're evaporative whether eye, VEVYE you to a a prescribing

our hope our a that product is they also the as being equal, have board things on so choose market. the perform in can cyclosporin, contain And performs highest that concentration will product that all to

XX-month of the Data if their gate. scores. significantly, terms you production the talking data you're presented, X Certainly look set dryness data, X well [ we of and you for symptom fluorescein improvement about improving ] sign at terms that the that data, tear the out is of improving weeks, staining symptoms the patients get massively significant within In within corneal total and month, in as corneal staining. also as improvement

product And XX-week has adverse profile. of a terms and prescriber, event a the only cyclosporine and at works period. set a but and overall so And highest data an symptoms in prescribe this importantly, concentration if look time last long extraordinary the over you to rapidly, ability signs that you of not will you're a can improve

can quite goal have category. have patients like we're that of think wanted will overall we it. a I the as the a get VEVYE a of those said going they of prescriptions lot product cyclosporin in is, and So market. prescribers our and that are there bit to a certainly expand But perform to soon earlier, we lot And think

Operator

I remarks. back for will now call Baum over turn Mark to the closing

Mark Baum

Betsy. Thank Sure. you,

our more been prospects. in never confident I've

will prescribers, ever we of is accomplishment may disciplined will a the but patients, I goals the be customers, it plan think far has remain going goals. we than track though behind, going our our be the valued our lead is few with only to and that today a and get stockholders. on months our benefit not well-structured This been, accomplished, of to employees to our is we the Even there. greater company value

today's to thanks everyone So Harrow. and for attending in interest call your

any have you Jamie will questions, This our jwebb@harrowinc.com. Webb conclude call. If e-mail please investor-related at

Operator

conference concluded. now for presentation. attending The has today's you Thank

may disconnect. You now

Harrow Health (HROW) 13 Nov 232023 Q3 Earnings call transcript