Harrow (HROW) 12th Annual Cantor Fitzgerald Global Healthcare Conference summary

Strategic vision and guidance

• Emphasis on a five-year strategic cycle for long-term growth, with a shift to under-promising and over-delivering.

• Reiterated annual guidance, expecting stronger performance in the second half and especially Q4.

• Sufficient visibility and transparency into business segments support ongoing financial guidance.

• $250 million quarterly revenue goal targeted for calendar 2027, with plans to update segment contributions at an Investor Day in spring.

• Business will be framed around ocular surgery, retina, and ocular surface segments, with continued M&A in these areas.

Product portfolio and growth drivers

• G-MELT is positioned as a major future growth driver, leveraging extensive experience with its compounded version and aiming for FDA approval.

• IHEEZO and VEVYE are both expected to be nine-figure revenue products, with IHEEZO showing strong account growth and significant market headroom.

• QUELL phase IV study for IHEEZO is expected to provide pivotal data in Q4, potentially expanding its market opportunity and label.

• BYOOVIZ and OPUVIZ biosimilars complement IHEEZO, with a focus on deepening account penetration and leveraging existing retina team.

• YOCHIL, another MELT family product, is being positioned for sedation in intravitreal injections.

Commercial execution and market expansion

• VEVYE sales force expanded, with additional leverage from the TYRVAYA acquisition, aiming to become the top cyclosporine and anti-inflammatory in dry eye.

• Use of AI tools enables real-time tracking of prescription trends and market share by territory.

• Recent formulary wins, including CVS and others, have expanded VEVYE’s coverage to millions of new lives, with more contracts expected in the next 12–24 months.

• TYRVAYA acquisition described as highly accretive, purchased at less than 1x trailing revenue, with milestone-based payments tied to commercial success.

• BYOOVIZ launch is incremental, high-margin revenue, strengthening relationships with practices and supporting a consultative commercial approach.