Harrow Health (HROW) reaffirmed a strategic target of $250 million in quarterly revenue by 2027 during its presentation at the 12th Annual Cantor Fitzgerald Global Healthcare Conference on September 9, 2026. CEO Mark Baum characterized the figure as a long-range goal rather than formal guidance, noting the company's philosophy of "under-promising and over-delivering."
Baum referenced an earlier milestone — achieving a $100 million revenue run-rate, which was reached despite COVID-19-related delays of approximately one quarter. He described Harrow's five-year strategic cycles as generating "a tremendous amount of revenue, profit growth, and stockholder value."
The company reported that IHEEZO, its ocular anesthesia product, has reached 2% market penetration, leaving roughly 98% of addressable unit opportunities still unmet. Baum compared legacy anesthesia approaches to "a BlackBerry compared with an iPhone 17," positioning IHEEZO as the newer standard in its category. The broader dry eye prescription market, on a total prescription basis, has grown more than 20% year over year for each of the past two years.
G-MELT, part of Harrow's MELT family of products, has been compounded and used in over 1 million cataract surgeries over nearly a decade across more than 800 institutional accounts. Baum called the transition of those accounts from a non-FDA-approved compounded formulation to an FDA-approved, on-label, reimbursable product "extraordinary." Regulatory engagement regarding G-MELT's Special Protocol Assessment with the FDA is expected in the early fourth quarter of 2024.
Harrow outlined three growth segments: ocular surgery (perioperative), retina (periprocedural), and ocular surface. On the retina side, the company said it is targeting only a "handful of percentage points" of market share for OPUVIZ. Baum acknowledged critics who call the company "cheapskates" for its cost-conscious deal structure, responding: "I say we love our stockholders."
Clinical milestones include the Quell Phase IV trial, a 236-patient multicenter randomized study, with top-line data expected in the fourth quarter of 2024. The DAANG study produced initial readouts in July, and the VEVYE Access for All program continues to support patient access. Formulary progress for VEVYE includes a CVS preferred-coverage win in January 2024 and a shift to covered status in August 2024, moving the product out of a previously blocked position.
On the M&A front, Baum highlighted the acquisition of TYRVAYA from Tervia at less than 1 times trailing revenue, noting that comparable assets have traded at 7 to 10 times revenue. Wall Street analysts have assigned Harrow price targets ranging from $45 to $88 per share; the stock was trading near $38 at the time of the conference, with a live close of $34.07 noted in accompanying data.
Looking ahead, Baum projected that the second half of 2024 would be materially stronger than the first half, with the fourth quarter expected to outpace the third. Harrow also announced plans for an Analyst Day in spring 2025.
