HROW - Earnings call transcript Q2 2024

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Operator

Good morning, and welcome to Harrow's Second Quarter 2024 Earnings Conference Call. My name is Josh, 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 morning, Harrow's XXXX Second 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. be

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

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

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

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

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

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

Mark Baum

you've second call. on Investor reviewed presentation corporate the to all XXXX and good Relations our Jamie, stockholders, our quarter letter available welcome Hopefully, release, of and morning, are and to website. conference section our Thanks, earnings which of

believe know, to over of a these now share of Arrow quarter. increase of the XX% and is XX% the you As record data, record million. some contributed knocked business ripping, quarterly results. part prior previous $XX.X year it increase shortly, a our VEVYE. I out Every That's park I a and achieved quarter the over that will of which we just IHEEZO with demonstrate revenue

the year. Segment its achieved business quarterly Our performing versus And revenue of quarter with XX% ImprimisRx is Anterior compound our this by revenue first beautifully subsidiary history. over in increasing highest its

report firmly I'm happy that revenue revenue. showing as ahead This in promised. our higher, of is branded margins is as now now float they to compounded up

overall and fact to than we XXXX relaunched I in expect than $XXX this revenues will this of million that's year. excluding TRIESENCE we $XXX of the dominate that this year, outpace half overall accelerate. Based revenue We our on continue that revenue forward, to the in half first revenue in and expect should branded going operational momentum, back that print. will at greater million, later question revenue confident if remain the especially point, will just this XXXX true any be is And greater much is contribution. how I TRIESENCE believe

starting most highest accounts no, strategic signed definitely since provide IHEEZO consists including the with about retina in XX% from statement quarter the up nearly June supply coming TRIESENCE. now which of group IHEEZO will of quarter this unit volume a letter This it for my practice XX volumes -- XX. stockholders in while United to last of with agreement And quarter. could exciting retina largest about the announcement impact second a are agreements X and the retina us. have agreement practice We've big the the and was quarters, the in most the balance recent States. I'll year, with value practice and growth, commentary XX now another provide over fuel IHEEZO a upbeat country. in Probably products, to some phased doubled, it we why accelerate that be and in should market respected and on major the can groups quarterly our point year, proof the IHEEZO and for the this it's

have I update good TRIESENCE, On share. interim to a

the the being making specification. batch eventual with in progress analytical initial relaunch of towards of are We TRIESENCE second all testing PPQ

third for in TRIESENCE my stockholders, week. prospects, a of be details fact, our next follow figures my which is the to in retina in including relaunch recent meetings matter precise, with on work meeting days, PPQ can in numerous to at view In our Sweden. ASRS community production scheduled More be found key batch of the commercial now actually, Stockholm, letter

what franchise, to disease eye on eye I Moving park. dry is the out of our the which here's VEVYE, dry knocked disease, mean. And by it anchored

PhilRx, of data corporate just our shows of total provides second year. in from that's XXX% this partner, first latest presentation, from the pharmacy which quarter Our increasing prescriptions select quarter the VEVYE XXXX

pharmacies about continue would for which number Growth major and grows other VEVYE markedly. mind with critically, access data to Keep cycle eighth roll to and X,XXX these VEVYE, contributor and, prescriptions our this now increase VEVYE are this of underway. literally strong, every monthly in numbers in New refills points a day. doesn't include prescribers refills remain retail

driving key our access success VEVYE's Another factor is strategy. market

XXX impressive now to a commercial particularly here's their most about shameless And durability confirms accessible short potential goals the currently resulting in is covered it's with quickly, treatment is Medicaid XX%, currently with XXX% time has report quarter a see, XX% at that million, positive from pleased internal feedback we works coverage plug. successes action, by if the longer reach even third approximately and results. We're can positive coverage VEVYE to exceeding patient physicians You not extraordinarily VEVYE. Their fall at and of access VEVYE the expected feedback of is wonderfully and our market is patients. lives drugs beyond clinically with their outcomes. tolerable,

good Given suffer encourage if disease. this from how actually call, can if and mathematically, a number me, is the you see want VEVYE pudding, eye Patients have your in and to Harrow in help stockholder. different It of our including feels. the put to it people number family of you to you're eye speak in especially eyes, believe chance a my The who proof you. good dry feels other just that friends, to cyclosporins cannot fair on there's their works a professionals way. different care a I VEVYE

to me and let please out want know to user, If VEVYE. us. Reach VEVYE what you you a become out I to think me about to you encourage reach

Because that new or underway, of this force really market done dry compete cover national and with and is so of and believes, investing can you shift what only scratched our they demand where the because markets. we patient, opportunity believe, territories can we VEVYE markets, XX we a the single current the with surface And into carve don't do team help intend and Don't VEVYE dry have at currently, do and gaps continue I with our these a has have what strong a certainly as these territories. we we love success. we've VEVYE tell, do our but in territories potential we the intend expanding barely to feet We love inside by the commercial product, to the people geography-specific with wins, VEVYE markets we team's And throughout are job. best-in-class sales fantastic XX in given street. assuming on But new fills far, sales category. the can worry, we disease to eye every the what access I force geography by a open intend pace eye opening and launch success and VEVYE. VEVYE for we year. I up as to

ain't in With to VEVYE, yet. This and intend XXXX. of dry seen eye is millions do help VEVYE you disease, us a more we play sell in long-term for we suffering than from XXXX to people nothing

in fact, the be ophthalmic is to too are leading started value to cash America's driver believe the of and the become revenue and year, cusp pharmaceutical opportunity for to our half on major and our the meeting conclude see the years on North Harrow, and stockholder a is we company. results second while of contribution many ago, which seizing laser-focused ophthalmic company. scratch executing their from special team and great growing to targets a expect stockholders, that flow back very Harrow of and not quarter, As come. I'll valuable by pharmaceutical beautifully, patients I adding long exceeding Harrow's the VEVYE we for delivered customers them we becoming that

have I'll Operator? we progress, truly answer of we for our operator started. We're a questions. poll now questions. just While to to your happy lot made are getting pause

Operator

Thank you.

first Instructions] We will Jeffrey now Our Cohen with question Co. [Operator Ladenburg Thalmann begin & comes the question-and-answer session. from

Jeffrey Cohen

some got much appreciated. quotes, I great

So few questions to come a mind.

specific could or any you Medicare, out So there? covered call is I you commentary heard you XXX XX% in Medicare? XX%. Medicaid about to talk [indiscernible] the VEVYE, call million out on Could there

Mark Baum

Yes.

So we attaining of process now. are going Medicare through coverage the

to an we part we Medicare of be product, in coverage. process And we the process, going to negotiation of active are are absolutely this specifically not to said get with now, plans. didn't launched coverage all when in a Medicare pursuing We was universe coverage. out call an think, because I process, we XX-month that's but coverage certainly that those the the requisite XX-month our

Jeffrey Cohen

Got it.

Okay. Perfect.

general you the organization now, and VEVYE of should and On overall and about perhaps or growth kind the what a FTEs scope 'XX of commercial growth commercial us force, anticipate? that sales of in 'XX side, could the flavor size size the then we perhaps give maybe talk

Mark Baum

Yes.

street. the those sales mentioned And fantastic that individuals And covering feet little hack force, call, our force. over is we they a markets national only into rest discrete by the VEVYE markets. as we covered the up the don't So mentioned with on job. half the I markets do have The specific I call, of geography the on cover sales inside on of as we a

access of had, invest sales interest of I to spreading, word in going and VEVYE, expanding think, community we ophthalmologists in that our the, we've think, growing I sort wins amongst because However, organization. because the optometrists, within of are ophthalmic the the market and

on feet markets with certainly have you instantaneously. happen going the happen so And should that think goal street, is I to quarters. the expect It's those coming over and the of all not covered to to

over only Remember patients, skis that, products we get launch serve ensure also launch products, and their we don't not financially. our our customers that we to to when but

has executed in disciplined that do been to remarkably fill way, grateful over organization is Andrew, launch remarkable, grow And and so which out But way, and which to and they've and we've really add and we this products VEVYE done. a their been the degree in coming to in be The we're a scratched continue call, you to the able 'XX. leadership we'll for really the and that? what years over as I team them continue to productive. on We've have surface, a going to said the as just lot sales want to of the 'XX do proud very profitable left our to there's we're organization, quarters done.

Andrew Boll

a potential I'll much refill Mark is you ] drive this skis. not so perform the from product. the perspective. and [ said, love as involved that doing leadership long-term said, over on we're amazingly job. We I fantastic think from revenue get just said, force and sort for just a the last to rate And value access Mark, sales revenue about call, echo VEVYE. standpoint, just our of team going I a continues that said making what see to The I and That sure letting sales the

to as make looking investments force, in I that day. so sales love we're ways every -- and do investments And making that we for

going time. patient increase so of the it's for availability product to a the I are to increase an know access And And and product. the us we're and patients excited long certainly, be exciting for benefiting

Mark Baum

dad, dad VEVYE. old I is think Andrew. just know loves patient is a you that VEVYE who I mean, about dear, the patient #X your your

Andrew Boll

right. That's

Jeffrey Cohen

I mind. one quick got it. you Got one on IHEEZO, more if don't

any what about commentary? users a talked of 'XX supply agreement looks taste and agreements. agreement Can many these supply you the like, how typical us You give associated supply with are geographical a little

Mark Baum

Sure.

require if So the hunt, organizations, supply by to organization, of -- of you sell if licenses to backed are groups, to sort many are the the that equity These will. agreements, entire you want to of organization. which clear, contract you head be with the private that you

will, unless a in products. those allow that get you satellites, these organizations, that friction-free that is, the the The want very to sell truth agreements done us individual into folks deals allow are these organizations. have They the of So you what if that's do. us though, way, to, parts and organizations can't get sites these these within you into

And so been And the the because physician we've those for IHEEZO within And sort of to over torch we able these within is voices, organizations get done, been certainly line the their of the reason these these deals that we why want supply voices, have will the organizations. have agreements in. they carrying phase that programs the now products.

part get for sold so the coming But we retina quarters revenue get big very it's a phased reason fully will largest get in agreements several as agreements the practice and and the very implemented able call, on opportunity. of that's it these on and the these signed to big mentioned U.S., just the or I As win bullish take group the to implement and being quarters us But throughout grow these we're organizations. why over sold in. products a

Operator

with next Our comes Knickerbocker Craig-Hallum. from question Chase

Chase Knickerbocker

Obviously, that for market share access average would the on the well Medicaid first, want but the just, for me. commercial be what course? are just up of kind speak And on my itself, might specific execution place? contracts, to a congratulations then still as to kind patients? first of maybe same the you speaks questions for barriers what couple Can here. to of expect on quarter co-pay $X Maybe those of of to prescription, share co-pays, then be on step-edits question you kind of I we some commercial some are on doing VEVYE, sort the speak of of speaking of kind And the in

Mark Baum

Yes, certainly in big stockholders, in it's think markets, some I'll Texas in just California. that we've and some of large the had on comment, letter Medicaid, specifically and referenced very in wins I

VEVYE As Medicaid Andrew, specifically which size. do with have pocket, so on patients now want I out step-edits? information to access said copay, market a to additional access stockholders, any of that for fantastic in my barriers $X letter and some you $X and is comment to market of

Andrew Boll

Sure.

cases state-specific the bit on for Medicaid -- more are in know on typically cases low as plans. said, little really coming $X, It's some a many access But Just the you in a more team. as single Mark the is the co-pays side, as generally win this low, digits. great

product. VEVYE, the seeing dry-eye some plans about On market that And us it's product. requiring good good the patient we products. other are lacked this is news launched patients authorization. existing on step-edit is have Typically, [ we side, that a ] failed prior we full had a The a on market that of really different for when talked dry-eye failed the

of patients And products so lot a there that are failed. tried have and

that have is there, a so of patients dry-eye products. And step-edit while that population failed there large is other

us even huge barrier is approvals. we're product wins increased so for with paid seeing And prior and ability isn't get authorization -- and the steps to the through get our a

Chase Knickerbocker

that how speak possible team building your but mean, helpful. guys of as That's investors Obviously, the you progress Medicare Medicare far would year, how be expect I then midway should for it. And you market for coverage? for end affordable goals of by the guys that, make it's thinking off Got do Medicare And maybe there about as there as of to are of have you early is kind what how beneficiaries here? coverage thinking then to as by days, kind VEVYE? trying next? about access

Mark Baum

for every to dry be single prescription able includes beneficiaries. every in in my be patient Medicare eye remarks, that and dry-eye need, and single help To we said clear, to intend disease compete to prepared I as

goal, all are we in years get been the the active or in realistic able following coverage many, the serve would some The as that this XX for XX it that I place the launched that need take so months patient have to was discussions, grew we So and think, going to we product. were -- to quite to many to be of from that we time for we time, product population.

I And are or markets of product. so we can't really patient intend our changed But there's negotiations to from when are serve compete in of very patient we we I to don't I been it one that comment competitive as specifically where is hopefully, population. we for have But the for and in on going Medicare is And are how after be those year, intend coverage, population, had so every that anything those the that's to next first these We coverage. going -- today goal planning think to because launched said, aggressively that patients. to that have quarter able place.

Chase Knickerbocker

[indiscernible] quantify those Makes licenses you sense. 'XX, the they're the just to Could And that's said those kind agreements? see. You within in hunt. on overall great what -- for IHEEZO, to maybe supply agreements then us is supply opportunity to help of

that it Just revenue how by can about those supply are. help kind metric you maybe of kind whether Just think is ground, big agreements opportunity? share us of of overall what or overall size that market of a kind quantify

Mark Baum

sure. Yes,

about point to that agreement million. just X.X retina so visits million X.X largest the agreements. And That practice in to and we think one about, these these the of was is we And scale signed agreements recent place per that posted I can of color the reflect. has I'll give haven't sense and group excited the of you give the just from have what you a some group TAM data additional that what serve So do I now agreements percentage year, some -- that. that done most in of you we're alone we patient give I U.S. going don't the

opportunity. that large those visits of patient a market administration connected So with intravitreal are very I this would And many is injections. the think of

it's we of years, than phased happen. I seen I from about really of the and groups we X They not these -- dozen a been account, and So more agreements that have we've so in, get these have financially quarters to And that's, as be agreements intend very will but reason excited that but the exciting place place, why we over to will coming coming to serve have the yet now, we're and effects said, in have the as time. part to said, agreements in able they be. those because

Chase Knickerbocker

Got just back queue. then it. hop and me, And last for I'll in

so kind the here. when then XXX,XXX for I everything many was you to these relaunch And you TRIESENCE Sorry units the about TRIESENCE the is goes smoothly before kind one -- kind of assuming everything that the But and would in the constraints. right, Mark, penetrating with have of -- supply assuming launch? one after batch of How in-process original goes quarters -- previously third here kind opportunity here? all are market of next what this the expect first couple in thinking year,

Mark Baum

as about this It's third week. get to the So working the the to for scheduled for batch be has And I want amazing. a boy, we're thank year that next TRIESENCE, to diligently which to said, us making point. do timing so team on I going been next is week,

So done job. an they've incredible

but successful the a data lot And the is we pretty We here to of have that don't we've the the second the the because in third we have far get been coming reason so of the scheduled the days. batch. with data, on of all data, that batch why we're of expect and balance all positive we've indication the is

assuming able days batch. product, we're long it successful XX test has somewhere it we analytical terms from get and In that as as between when batch, -- of the be XX does validated relaunch to taken take with that might results third to a

doing takes about it's takes paper. very I so and do calendar August said middle it all at it months the hey, to And if X and look easy the letter if they're to -- in and say, XX even in that the of days this the

relaunch quarter. If this that You the be product. well, in all sometime we'll see fourth goes able can to

these inventory But back when product, that we that on, you talk at What I folks programs TRIESENCE, everyone word say them that. considering to I we on I really meetings thumbs We we spoke I'm all had specialists work use of with and that beyond that have TRIESENCE market. working this excited from don't these excited wouldn't the retina word, or all, would to was the finally about normally, most I many say why specialists the retina retina don't folks, about -- big feedback specialists that XX have programs got down received I about, want spoke but of consider and having is was here's ASRS all, a -- TRIESENCE. were that the there to and say, to, about high-level probably to to these in

confident And be batch but to the batches this to time. first long busy third that Right with so we're additional able very the next forecast our we now, into can working going manufacturer for our only the of and preparation I'm to a year half quite year internal for on that preparing based of for not produce schedule product. this contract all we're sell very also

plans TRIESENCE, but and got years a the we've this wants exciting The TRIESENCE, for come TRIESENCE to to for develop year, winner. not brand. some really So for market TRIESENCE is several hopefully, only,

Chase Knickerbocker

Congrats again.

Andrew Boll

Mamtani next from Riley comes B. with Our question Securities. Mayank

Mayank Mamtani

on taking a and questions. for Congrats strong my quarter there thanks

X business? maybe in you the understand the could growth growth products, quarter-over-quarter So before into go that us we products help XX% just Anterior

Mark Baum

since portfolio. only get them. was to They we that their those there's many acquired revenues before Novartis, we got deal as years goal other acquired we had in products, not to but think transactions when we, we think, pretty falling terms not been Santen from were recall, I which [ involved. products, our for say stabilize got to than ], of portfolio and up trying so was them for we the stabilize those And I the portfolio would given that, And thesis back we that be financial able do that we the to position. that and growth could winner if products, we and into that, a friends a price very these amazing with make ophthalmologists the paid customers a come have community of and had given long-term would need a our these they to for lot an products much serve that good access of did and -- to sure in that optometrists many And broad and a ophthalmic you we Well, make them. for with those toolkit to two years make are of

we've so that's And what done.

I told too. think we to to good, we've with have as And met fact, products These day, first is had stabilized. as the quarter, growth. over certainly be really our we quarter you, promise other third the there. in from looking Andrew second quarter me candid XX% the said, And

think is of were a course So and a complete, couple very X of the the positive transactions to over with turning is in transactions years. other out I able this be keeping transaction that we to

out of for all worked really them our have well think I stockholders.

Mayank Mamtani

are IHEEZO, That's that hear. drugs. procedure a great if I'm the segment how as know, these look eye forms where about proportions like, side able you're of to you there VEGF? may then, other effects on you bilateral to having versus treatments are And could need certain in talking And unilateral complement

interesting And VEVYE. a number, or then in billed on small? So retroactively X. lateral your some then I that expectation versus these I was be follow-up procedures relatively a Is is What's could bilateral? curious. reasonably have to And that of also, just January

Mark Baum

Yes.

ensure wouldn't are That's activity, thing retro a a of the And in benefit a deal us, past the that's us from of rather. with mainly any In billing to cleaned customers perspective that. make I good out were our that that for up. credibility able a for big from kind be to -- terms of issues

XXX% units of increase volume patients going if your this bilateral unit or that only going X,XXX terms administered a used by demand an in simple point And are IHEEZO to [ bilateral then is is because if double. are you with your that, a year being of your bilaterally, half versus it's patients account eye you're then using math account volumes the they're doing it's to one unit and selling big revenues and on on XX%. the being make X unilateral, really And to injections, of ]

good easy math. So It's it's really math.

laser think But these I where positive greatest that cases, the be, of in especially not injections, surgeries. really and interventions, unit year million units I in the intravitreal think products are feedback, with we're important only well surgical performing that's in opportunity and the Certainly, product that thing in getting in the is is in glaucoma very the clinic, market. well for growing, demand per now XX GA will north and but

at producing have, if what is IHEEZO, not just commercially The working overall pull-through So through the team company. agreements that results, This great is these market can so phenomenal these already now getting we're a scratched on as the on because excited impact. mean, versus why IHEEZO Greg doing. a we we reasons is done only purchases the the about we're making of reason look Mayank, that do, and have seeing of market. share, started. why but That's you and team the really doing we the our and what big Greg one that's I we surface. we're I done DiPasquale -- joined He's but said have many they're work entire in they're letter, of maybe just strategic agreements

Mayank Mamtani

going comment I VEVYE, also Yes. And the not contribution guidance refill price the know also treatment guidance. we anticipate of materially rate, on increase question your based No, of seeing the through around on-drug related to penetration term absolutely including duration But given net also, you're assumption the to being here. of year. on to on sort for other is course patients one IHEEZO. And are proportion looking trend, this forward my you helpful, longer be average peers just that of model do we could what would of

maybe So -- of just you still more the And units ]. for be. [ are of understand contribution and number and annual learn course would on to patient VEVYE, basis, what kind rate VEVYE, those at what trying net an per to over about some of year have of price IHEEZO least a

some If you're give that able helpful. to would color, be

Mark Baum

Sure.

So IHEEZO, discussing will us it's or we not at clear, rationale whether all. ASP. really be competitive VEVYE to There's for discuss no ASP publicly

do And as like ASP on a idea time, will of And net products. or more we get I report where of a to so training, won't kind think, these product-specific sort have who over pricing able you, people we basis, much is be for your better of pricing that. is

rates of any compounding and the by prescription. the way, eye dry terms that through diagnosed with refill eye you of for and patients refill we case, seeing if refill durations you start the business. -- you understanding have history, What we're refill of a in are In rates is dry rates disease chronic disease our is, VEVYE, chronic treatment, and

So the component smaller look in we now what And even than you, NRx at patients understand with give FDA-approved seen we're what other specific more is are very and eighth the than far we've because TRx, our NRx to you formulations refill a specific of compounded of any have if over data, going become to that to refill refilling. time, as VEVYE component products. tell rates refill seeing with you more much certainly our rates cycle. but to we're because exceeds our TRx what And were our strong good don't higher for compounded and looks like historically. for But I products information,

you territories, this that? a continue the salespeople way to percentage sort the And of thing. TRx. of add is growing, thing. become bad we beautiful a you given NRx in And TRx It's then our But grow. more these do compounding so as Andrew, add larger good the of the get amazingly will a prescriptions. want to And that's not refills to

Andrew Boll

it's Yes, dry I call, on tried including to first a all eye of can him Mark took not that the helped market really color. refills, little he's his I eye, there eye, -- And I suffered putting sorts think, when there that's product the that all a type life, of generates in it's benefit. terrible -- his and of him, this on him still at we're he me the father add there he of products he remember his And patient, as And and isn't quality has And Earlier was VEVYE. these dry the drop. first from said, drop changed one it, a and been mentioned takes life. seeing who reasons diseases, really, the is wow. my see I and eye looked

continue to And and We'll NRx rates see we'll to you'll the said. drive I refill refills Mark continue and prescriptions. see but be of to we more NRx's, new climb, part see so a number, TRx continue will more as think

pricing, to money. the one too, the is access regards of In focused we're great making on about market things program

ASP we're right program access market sure make And as executing. the these patients wins. generous But see got getting to get now should we we we're program getting is really wins, so therapy. overall, a We've improve. We're market on access

because rates, paid well. as of so importantly, VEVYE of on And authorization getting we and lot those see claims seeing the lot a their people a process a well claims product for, now through their have we'll as refill gone they're to ASP continue for And go for. should lot little ASP the increase, prior paid up a those of that start as better get

about. how IHEEZO an VEVYE. is great most So that the product because is, also amazing it all good for a probably product product. That's tells things I'm excited And you

time a Mark us we're long and tons for really there, a As to as mentioned, of important wins product that's and big having going well. be for

Mayank Mamtani

with about my the strategic believe, you now you're bigger on table that I these the a for just prosecute getting you to your And opportunities And that -- some focus care. obviously balance question, be ASRS laser you're that current final in additional again. how identified, talk in you to [indiscernible]. you Stockholm, and to against Great. eye meeting have plan Could the congrats brand product

Mark Baum

our the Yes, for customers. community will you, products an to on company that serve to really want to don't Mayank. only prior paid offices. their job create giving that these them easier, doctors We products get offices in authorization to the a for, contributor nightmares but at want that we to continue great letter, said economics be ophthalmic the allow as I important to be We Thank not the them. these wonderful us and that make hunt in staff large by their for to be with

an in company, our the to ophthalmology, proud be So we're as that at persona allow can build can looking will of, for that the be of, Harrow pharmaceutical of. products we ophthalmic that proud that work us who stockholders people be can proud

great of help Andrew actively. things on deals. fingerprints goals. our also there we're lot a And on work And We on there. duds. for that and all reach are them our always And have I hunt there these together can very the so us And are products of out

overpay. get But we're not in financially ourselves going as something going you put to a overly perilous and know, not excited We're about position. to

a have of we deals. doing So history

is that very positive. think I

I a look value we've the done our at think, tremendous the couple deals amount X stockholders. last of been to of for if in generate that you years, we've able

product how to an get points. Segment, it's ball commercial winner. there are how actively being many a -- score people want I the mean, I history, offer if to our to done. things is They because, we look it's there these a Anterior that our lot at we're so partners. into whether to Segment And looking done, the are the how of Posterior to They or deals out you with that we know convinced a over sold organization I'll be have know at line. and And to close know whether product them. get to

get of partners certainly credibility with we partner, And we've looking, ever than to, front that to able reasonable done. and which actively potential we're terms, better more But see less and terms, speak so, more of and more to sort involve have we'll us lot or back credibility to and I a end. what a had, potential credibility, we're think, get to allows end

though, is Harrow, executing we have. The focus, what main on clear, to be at

in amazing We the XX the now compounded products, have portfolio, franchise U.S. #X branded an

got there's dime out. if to day day is got But do a in and at a believe pay worth hard it So a upfront, a we look can something we now. and going $X we're lot that for take lot certainly that. to us we've for We've going a chance buy to

Operator

comes next Markets. Capital O'Neil from Street Brooks with Our question Lake

Brooks O'Neil

things. commercialization focus night, in I -- the in noticed I letter, around shareholder of to but you $XX quarter I I One, know to practices coming any product. IHEEZO? I said doctors the last you speak to reorder Are you two development the so at I did revenue still on late activity back very and it's early far? going think of the or can read think seeing reorder million I'm plate But all it from IHEEZO. that to in

Mark Baum

for is, In corporate we actually IHEEZO. the lay deck, specifically reorder the out what rate

was I XX%. think, quarter, it this

So that's a -- pretty good. it's

kind you because guy. known a now, glass-half-empty of I'm for while know, As me you've a

to really say But -- the XX% about the but a so isn't bad. And percentage small is very overall, I what XX%? So bad. our other very, we still people, market. not of It have

of about, I of think think, rate we're I on run a the just opportunities. about X% addressable

it's ordering rate where we a and And now. who but doctors more. are percentage the that that's they But market. think it, So above they're very of can I refill small like XX%, very, we use improve it,

Brooks O'Neil

at out figure it the this X% impressive market, large. you the of number what to looks can is, XX% do the Like quite rollout. with a the stage even math of and I say, And is opportunity very

anything through to is that Medicaid the not to commercial my of this. experience most payers commercial have Medicaid there's we come you as before Medicare the Medicare side? the I'm -- in you there Medicaid. see big terms that, I'm establishing been big, patients do players. a about that And their So opportunity or times, any through Medicaid are in Is our reason friends in -- eye just is VEVYE proactive proclivity It's question incidence there my second I state curious time, always what on big, come in last so Obviously, market? successful disease, or guessing government driving well. over dry mean, unique in of think and is many

Mark Baum

Yes.

what's that market I on So look, leadership yes, driving th- down. in lot of have deserves the access team a terms our from of Medicaid, to credit, I say

got office, that to walk back I a Rob's want big them the his big so on he's -- a credit And because I they're to got when give he's because smile ones face a mean, loves And this I he win. stuff. to he's these is and I competitive just guy, lot getting going He's he getting get wins and more. loves think he them. a

we XXX% quarterly our going of we're by to expect. time said, have the Medicaid I of what As That's next report.

moments be said have few ago, Andrew we a as But to profitable.

our to hundreds contract, of profit. allows don't time. to gate. with that out extravaganzas hundreds So way earn and when do us in the a reps take do We of have we We we right that a launch just

and built for and things way are to patient, deliberate the I mean, big the do that's we're way this last success that's big, here, Medi- We business we over way us. Medicaid, is we and we're benefit and continue I this a coverage able XX-plus going to we'll though, patient disciplined. are that's that. done. going time from the we serve the will certainly, we're Medicare. years, we be get place. this But year, you'll ultimately, that I And see do right in VEVYE. we're patient, tremendously think will next to believe, hopefully deals that get to population the do

Brooks O'Neil

-- last IHEEZO these a the or doctor's both medications I question. one office throughout of you these the month. maybe in It's of have I better of that and just Can on that and as many comment that need that sense do great. my perhaps year, their opportunity are little repeatedly well? both case bit every VEVYE, patients so even market essentially in investors the That's in in understand

Mark Baum

portfolio. our at look Well,

suffer. The affordable. They're condition. we tremendous. On preservative-free. medications That's the They're prescribed have is chronic for incredibly side, that certainly a that value compounded there are patients

FDA-approved. Although products, these compounded are not they're

for them they sometimes, drug portfolio And If friends. products. unavailable. the I products, in entirety throughout our of products, and small-market look of they They're products, many portfolio, cases, for big companies, optometrists. many And lot become these and an and They big creates are we ignore small-market go And on shortage. need them. kit not tremendous incredible ophthalmologists you is product. a of it And VIGAMOX the VIGAMOX. tool own is as a said,

sure going We're continue and that make we that accessible products do. to going to our available we're what optometrists. affordable. not darndest to so to ophthalmologists these to they're to that's do and going pricing so control We're make And

we pharmaceutical companies and or call, going And in believe it time. that to raise to examples cases, have probably on prices. from price hear of we this time some next to I'm do about when going share. about Since got not, many our Sometimes, lower earnings you to we've goal, But we're lowering that trusted needs, ultimately, this actually And a care we're to, portfolio. to that's few, needs ophthalmic reliable, And have partner, what to doing chronic community. but raised is an We've prices? partner lowering be care we're with the the to ultimately, others. for a and portfolio sure, amazing be balanced acute a talk

more I'm moderate the a to use million of million terms And million for we the IHEEZO, over in eye X for million, disease believe, lot severe XXXX. so population. best-in-class for In have suffering than market number, VEVYE as cases, next huge of I'm just potential more XX not a patient to gigantic. alone is severe XX patients will chronic we dry dry year we using a the think enormous long market saying dry IHEEZO. opportunity the We're And annual eye eye moderate it's in lot that it's with from I disease. than We XX U.S. alone VEVYE. said, got more to million There's is companies it's a than with a of in total going patients. XXXX X runway. use sell

Operator

would to turn back now closing you. over any Thank I Baum remarks. call like for the Mark to

Mark Baum

any Operator, questions? more

Operator

over No remarks. turn to for questions. I back call closing the you would like to any

Mark Baum

Terrific.

from the think, can progress discussed So years family and half I you making, The of the second a of this their the year. getting in for we contributions of us We're, the comes it in is tell, at and as that thank all I about thanks dedicated again. enthusiastic to to Harrow efforts want place. Harrow. our stockholders, customers the team entire our them,

As investor-related this and Jamie e-mail our call. jwebb@harrowinc.com. at questions, a you conclude have Thank you, reminder, Webb if will any please

Operator

Thank you you. your for participation. conference. Thank This the concludes

now may You disconnect.

Harrow Health (HROW) 8 Aug 242024 Q2 Earnings call transcript