So for 1 and 2 I honestly don’t have a great idea on it. I have to do some more digging on the outcome of both of them but I can’t really find anything off the bat but I’ll keep looking and I’ll try to update you on what I find.
The only thing I’d say about it now is that NO. 2 was a warning and if I haven’t easily learned of anything coming from that it’s probably a good sign.
3- While Novartis's drugs haven't shown much growth, Harrow's network could help them regain momentum. Harrow believes they haven't been properly advertised, and with their extensive network, they should be able to cross-sell these products effectively. Harrow's CEO has also mentioned how Novartis didn’t market these products well. Harrow also had not focused on them either (since they were busy with growing IHEEZO) but they recently acknowledged in their latest shareholder letter a renewed emphasis on these drugs. Also even if sales slow down, they aren't really essential to the overall growth thesis.
4- This is just straight up false. If you look at this graph from the Q3 2023 letter to shareholders you can clearly see a massive increase in IHEEZO sales. IHEEZO is now also the only ophthalmic anesthetic in the U.S. market that is separately reimbursable for unilateral and bilateral same-day procedures.this is obviously massive for IHEEZO and they recently have been working with 7 multi practice organizations that do over 450,000 cataract surgeries a year. They aren’t supplying nearly all of those surgeries yet plus IHEEZO has more applications than just cataract surgeries. So I don’t know how they can say it’s not a growth factor when it clearly is.
5- Yes they have had some losses by making some investments but I’m not really mad about that. I view it as a R&D expense if the project fails. They aren’t making any new investments currently as they are focused on growing VEYVE and IHEEZO so I wouldn’t really worry about this for the near future. Harrow also just sold $5.5 million worth of MELT stock to continue to help fund Harrows growth. They still have a large investment in MELT and they just started phase 3 for their main product MELT-300.
The biggest part of Harrow’s potential growth was left out from this short report which is VEYVE. VEYVE was their newest drug and it’s performing amazingly. They also just finished a year long study on VEYVE which shows how much of an impact VEYVE makes on the users. They think that VEYVE is going to be the main growth driver for HROW in the coming years.
There are currently 3 main parts to the long thesis on Harrow which are - IHEEZO, VEYVE, and TRIESENCE.
In this short report they only mention IHEEZO and they made a ridiculous claim with no evidence behind it. They completely ignored the main growth factor in VEYVE and didn’t mention the diamond in the rough TRIESENCE.
The only thing that’s really a problem are claims 1 and 2. Obviously you don’t want to be invested in a company that doesn’t disclose serious information. I’ll have to look more into these claims as I haven’t really seen anything yet.
Also this short report was written in February 2023 and more shares have been shorted since then as Harrow has fallen behind on their projected schedule. But since the last earnings report shorted shares of Harrow fell over 14% as their progress is finally starting.
While I still like Harrow as an investment I’m still very cautious as I rarely invest in this sector and I think it’s one of my riskiest positions in my portfolio. I’m also no expert so take my opinion with a grain of salt.
Thank you for reading my article it truly means a lot to me. Thank you!
thanks for taking time to giving a detailed reply. looking into the company a bit further, their products are just too complex for me to understand fully so I am not comfortable holding this, even though the thesis is compelling. best of lucks though
Harrow was probably the hardest company for me to understand as it’s a pharmaceutical company and I’m definitely no expert. It took me hours upon hours of research to get comfortable investing in them.
Not investing in a company because it’s hard to understand is the best way to go about investing in my opinion. Normally if a company is to hard to understand I’ll instantly forget about it. There are tons of companies that have looked financially strong with catalysts that I didn’t invest in because I didn’t understand them.
For some reason unlike other companies that I don’t understand Harrow stuck in the back of my mind so I kept on doing more and more research on it till I finally figured it out (with the help of some eye doctors I knew).
If you don’t understand a company don’t worry about it because there are plenty of other companies out in the sea that you probably do understand and would make better investments for you as you understand them more.
Hi, I've written three articles on HROW on my blog. I must say the last two are of far better quality than the first one, which takes too much pain at spotting fraud everywhere. You might want to take a look at them.
I found a short thesis on harrow here
https://www.bonitasresearch.com/company/short-harrow-health-hrow/
Have you considered the points he makes? If it is a good investment, the short thesis should be disproven IMO. Cheers
Hello Osten, sorry for taking so long to respond.
So for 1 and 2 I honestly don’t have a great idea on it. I have to do some more digging on the outcome of both of them but I can’t really find anything off the bat but I’ll keep looking and I’ll try to update you on what I find.
The only thing I’d say about it now is that NO. 2 was a warning and if I haven’t easily learned of anything coming from that it’s probably a good sign.
3- While Novartis's drugs haven't shown much growth, Harrow's network could help them regain momentum. Harrow believes they haven't been properly advertised, and with their extensive network, they should be able to cross-sell these products effectively. Harrow's CEO has also mentioned how Novartis didn’t market these products well. Harrow also had not focused on them either (since they were busy with growing IHEEZO) but they recently acknowledged in their latest shareholder letter a renewed emphasis on these drugs. Also even if sales slow down, they aren't really essential to the overall growth thesis.
4- This is just straight up false. If you look at this graph from the Q3 2023 letter to shareholders you can clearly see a massive increase in IHEEZO sales. IHEEZO is now also the only ophthalmic anesthetic in the U.S. market that is separately reimbursable for unilateral and bilateral same-day procedures.this is obviously massive for IHEEZO and they recently have been working with 7 multi practice organizations that do over 450,000 cataract surgeries a year. They aren’t supplying nearly all of those surgeries yet plus IHEEZO has more applications than just cataract surgeries. So I don’t know how they can say it’s not a growth factor when it clearly is.
5- Yes they have had some losses by making some investments but I’m not really mad about that. I view it as a R&D expense if the project fails. They aren’t making any new investments currently as they are focused on growing VEYVE and IHEEZO so I wouldn’t really worry about this for the near future. Harrow also just sold $5.5 million worth of MELT stock to continue to help fund Harrows growth. They still have a large investment in MELT and they just started phase 3 for their main product MELT-300.
The biggest part of Harrow’s potential growth was left out from this short report which is VEYVE. VEYVE was their newest drug and it’s performing amazingly. They also just finished a year long study on VEYVE which shows how much of an impact VEYVE makes on the users. They think that VEYVE is going to be the main growth driver for HROW in the coming years.
There are currently 3 main parts to the long thesis on Harrow which are - IHEEZO, VEYVE, and TRIESENCE.
In this short report they only mention IHEEZO and they made a ridiculous claim with no evidence behind it. They completely ignored the main growth factor in VEYVE and didn’t mention the diamond in the rough TRIESENCE.
The only thing that’s really a problem are claims 1 and 2. Obviously you don’t want to be invested in a company that doesn’t disclose serious information. I’ll have to look more into these claims as I haven’t really seen anything yet.
Also this short report was written in February 2023 and more shares have been shorted since then as Harrow has fallen behind on their projected schedule. But since the last earnings report shorted shares of Harrow fell over 14% as their progress is finally starting.
While I still like Harrow as an investment I’m still very cautious as I rarely invest in this sector and I think it’s one of my riskiest positions in my portfolio. I’m also no expert so take my opinion with a grain of salt.
Thank you for reading my article it truly means a lot to me. Thank you!
It appears my links weren’t included in my reply. The Graph from Q3 for IHEEZO https://investors.harrow.com/static-files/4b5e0194-ff51-4668-aad3-614d2c2eb727
IHEEZO separately reimbursed. https://investors.harrow.com/static-files/5e83dabc-fe49-4343-8c26-8d1cc900e8d3
VEYVE research https://investors.harrow.com/news-releases/news-release-details/harrow-announces-52-week-data-vevyer-essence-2-open-label
thanks for taking time to giving a detailed reply. looking into the company a bit further, their products are just too complex for me to understand fully so I am not comfortable holding this, even though the thesis is compelling. best of lucks though
Thank you!
Harrow was probably the hardest company for me to understand as it’s a pharmaceutical company and I’m definitely no expert. It took me hours upon hours of research to get comfortable investing in them.
Not investing in a company because it’s hard to understand is the best way to go about investing in my opinion. Normally if a company is to hard to understand I’ll instantly forget about it. There are tons of companies that have looked financially strong with catalysts that I didn’t invest in because I didn’t understand them.
For some reason unlike other companies that I don’t understand Harrow stuck in the back of my mind so I kept on doing more and more research on it till I finally figured it out (with the help of some eye doctors I knew).
If you don’t understand a company don’t worry about it because there are plenty of other companies out in the sea that you probably do understand and would make better investments for you as you understand them more.
Hi, I've written three articles on HROW on my blog. I must say the last two are of far better quality than the first one, which takes too much pain at spotting fraud everywhere. You might want to take a look at them.
Great, that you keep it short!