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NASHVILLE, Tenn., Nov. 13, 2019 (GLOBE NEWSWIRE) -- Harrow Health, Inc. (NASDAQ: HROW) today reported results for the third quarter 2019. Please click here to review Harrow Health’s complementary Letter to Stockholders for the third quarter 2019.
Mark L. Baum, CEO of Harrow Health, commented, “The third quarter of 2019 brought new records for our core ophthalmology business, as well as record high gross margins and Adjusted EBITDA. We’ve resolved various legal matters, normalized our cost structure, and completed the restructuring of our pharmaceutical compounding business, which is now sustainably profitable, setting the stage for our march towards our $100 million revenue run rate target in 2021 and 70% gross margins – which should produce about $1 per share of annualized adjusted earnings. All of these items and more, along with our plans in 2020, are elaborated on in our Letter to Stockholders.”
Conference Call and Webcast
The company’s management team will host a question and answer conference call with analysts and an audio-only webcast today at 5:00 p.m. Eastern Standard Time / 2:00 p.m. Pacific Standard Time. To participate, please use the dial in or click on the link below:
Conference Call Replay:
A dial in replay of the call will be available until December 13, 2019. The webcast replay will be available until February 13, 2020.
About Harrow Health
Harrow Health, Inc. (NASDAQ: HROW) owns a portfolio of healthcare businesses, including ImprimisRx, the nation’s leading ophthalmology outsourcing facility and pharmaceutical compounding business. The company holds large equity positions in Eton Pharmaceuticals, Surface Pharmaceuticals, Melt Pharmaceuticals, Mayfield Pharmaceuticals, Stowe Pharmaceuticals, and Radley Pharmaceuticals, all companies founded as subsidiaries of Harrow Health. The Company also owns royalty rights in certain drug candidates being developed by Surface, Melt, Mayfield and Radley. Harrow intends to create, invest in and grow paradigm shifting healthcare businesses that put patients first. For more information about Harrow Health, please visit the Investor Relations section of the corporate website by clicking here.
This press release contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Any statements in this release that are not historical facts may be considered such "forward-looking statements." Forward-looking statements are based on management's current expectations and are subject to risks and uncertainties which may cause results to differ materially and adversely from the statements contained herein. Some of the potential risks and uncertainties that could cause actual results to differ from those predicted include our ability to make commercially available our compounded formulations and technologies in a timely manner or at all; physician interest in prescribing our formulations; risks related to our compounding pharmacy operations; our ability to enter into other strategic alliances, including arrangements with pharmacies, physicians and healthcare organizations for the development and distribution of our formulations; our ability to obtain intellectual property protection for our assets; our ability to accurately estimate our expenses and cash burn, and raise additional funds when necessary; risks related to research and development activities; the projected size of the potential market for our technologies and formulations; unexpected new data, safety and technical issues; regulatory and market developments impacting compounding pharmacies, outsourcing facilities and the pharmaceutical industry; competition; and market conditions. These and additional risks and uncertainties are more fully described in Harrow Health’s filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and its Quarterly Reports on Form 10-Q. Such documents may be read free of charge on the SEC's web site at www.sec.gov. Undue reliance should not be placed on forward-looking statements, which speak only as of the date they are made. Except as required by law, Harrow Health undertakes no obligation to update any forward-looking statements to reflect new information, events or circumstances after the date they are made, or to reflect the occurrence of unanticipated events.
Source: Harrow Health, Inc.