Harrow Health Posts Larger Loss In Q1, But Retail Enthusiasm Grows As Dry Eye Disease Drug Drives Revenue

Harrow Health, Inc reported a wider first-quarter loss on Thursday but reaffirmed its full-year revenue outlook, prompting a pickup in retail trading activity.

The eyecare pharmaceutical firm posted a net loss of $17.8 million, or 38 cents per share, compared with a loss of $13.6 million, or 28 cents per share, a year earlier. 

Harrow shares closed at $23.59, down 4.07% on Thursday, and dropped further in after-hours trading, falling $2.49, or 10.56% to $21.10.

Revenue rose 38% year-over-year to $47.8 million, driven by increased uptake of Vevye, a prescription ophthalmic drug for dry eye disease. 

Vevye recorded $21.5 million in sales during the quarter.

The company cited strong early demand from its new ‘Vevye Access for All’ program, launched in mid-March, with prescription volumes at specialty pharmacy PhilRx more than quadrupling.

“Our Vevye refill rate continues to be buoyant, with the average covered patient receiving nine refills,” CEO Mark L. Baum said in a statement.

Harrow reaffirmed its 2025 revenue target of over $280 million, slightly below analysts’ average estimate of $283.2 million. 

The company said it expects continued commercial momentum from its Iheezo and Triesence products, along with contributions from pending pipeline accounts.

Management also reiterated its focus on strategic acquisitions to augment its U.S. commercial platform, calling out opportunities to add “high-quality ophthalmic pharmaceutical assets.”

Sentiment on Stocktwits was described as "extremely bullish," amid a 2,200% surge in 24-hour message volume.

One user expressed strong enthusiasm for the stock, commenting that there was "never a bad price to buy HROW" and that no matter the outcome, it's always "good news." 

Another user highlighted the potential for VEVYE’s continued growth, noting that if it maintains its 35% quarter-over-quarter increase, the product alone could contribute $150 million in revenue for 2025.

The stock has declined over 35% so far in 2025.

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