HROW Stock — Harrow Inc.: Cash, EV, Pipeline

Share price

$33.08

Market cap

$1,240.1M

Cash

$83.9M

Enterprise value

$1,456.2M

Balance sheet

Cash	$83.9M
Debt	$300.0M
Net cash	-$216.1M
Enterprise value	$1,456.2M
Basic shares	37.5M shares
Fully diluted shares	44.4M shares
Fully diluted market cap	$1,467.3M
Cash per share	$2.24

Cash figures as of 2026-06-30. Database snapshot: 2026-09-21.

Price history

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Pipeline assets

MELT-300

Phase 3 · Active Modality: fixed-dose combination sublingual/orally disintegrating tablet

Indications

Procedural sedation (cataract and other outpatient procedures) (Phase 3)

Catalysts

— H1 2027
— H2 2028

Status note Completed Phase 3 clinical program under SPA with FDA; advancing toward NDA and commercialization.

H-N08

Preclinical · Active Modality: ophthalmic formulation

Indications

Uveitis and/or intraoperative visualization in posterior-segment surgery (e.g. vitrectomy) (Preclinical)

Catalysts

— H2 2026
— 2028

Status note Triamcinolone acetonide ophthalmic program; CMC optimization underway.

CR-01

Preclinical · Active Modality: device-enabled conjunctival delivery

Indications

Ocular neoplasia (Stage not disclosed)

Catalysts

— 2029

Status note Proof-of-concept evaluation stage.

MELT-210

Stage not disclosed · Active Modality: sublingual/orally disintegrating tablet

Indications

Procedural sedation and related anxiolysis/amnesia (Stage not disclosed)

Catalysts

— 2028

Status note In clinical development stage; midazolam-only product also used as comparator in MELT-300's clinical program.

Per-asset detail extracted from the 10-Q filed 2026-08-10. Fields the filing does not state are marked "not disclosed" rather than filled from other sources.

Pipeline

Lead drug	Chloroprocaine Ophthalmic Gel 3% (IHEEZO)
Lead indication	Diabetic Macular Edema (DME)
Lead phase	Not disclosed
Active trials	1
Collaborator trials	3

Active clinical trials

Trial	Phase	Status	Role	Sponsor	BP	Condition(s)	Mgmt guide
NCT07456826	Not disclosed	Enrolling by invitation	Sponsor	HROW	—	Diabetic Macular Edema (DME); Age-Related Macular Degeneration (AMD); Retinal Vein Occlusion	—
NCT07566975	Not disclosed	Recruiting	Collaborator	Neuro-Ophthalmology of Texas	—	Dry Eye	—
NCT07224529	Not disclosed	Recruiting	Collaborator	University of Alabama at Birmingham	—	Meibomian Gland Dysfunction (MGD)	—
NCT07368595	Not disclosed	Not yet recruiting	Collaborator	Baylor College of Medicine	—	Dry Eye Disease (DED)	—

Sponsor-matched active trials from ClinicalTrials.gov (1 as sponsor, 3 as collaborator); "Sponsor" = company is the lead sponsor, "Collaborator" = company is a collaborator. The BP column flags big-pharma involvement as lead sponsor or collaborator (excluding the company itself). The Mgmt guide column shows what management guided for readout timing when a guided program matches the trial (hover for the quote, click for the source). Trial listings are not a company pipeline slide.

View all 4 active trials for Harrow Inc on ClinicalTrials.gov

Institutional holders

Fund	Shares	Q/Q change	% of portfolio	Filing
Ikarian Capital	135,775	-407,272	0.94%	2026-08-14
Braidwell LP	0	-156,419	0.00%	2026-08-14

Institutional holder positions from 13F filings. Q/Q change is vs the prior quarter's filing; % of portfolio is the fund's own reported portfolio weight.

HROW — Harrow Inc.

Balance sheet

Price history

Pipeline assets

Pipeline

Active clinical trials

Institutional holders