Notes From The Road

研报英文原文证据摘录

Notes From The Road

June 29, 2026

●Biosimilars strategy and expectations. Byooviz is launching (as we

speak) with a new WAC, new ASP, and is, as Harrow describes it,

the only ranibizumab that allows cost recovery for offices. Harrow

acknowledges the market for ranibizumab injections is in flux and TBD

where volume settles out, but ultimately expects potentially a durable

hundreds of thousands of annual injections. The ROSE study (switching

from Lucentis to Byooviz) will be a cornerstone of communication, and

pricing/contracting will be key drivers of uptake. Opuviz, launching in

Jan 2027, is a larger opportunity where Harrow is really only aiming

for a "handful of % share" but nonetheless expects to generate a lot of

cash flow for what was a $4M upfront investment in the two biosimilar

products and no real increase in OpEx, since the biosimilars go into the

bag of the Iheezo sales reps.

●Long-term strategic vision. CSO Amir Shojaei (joined Jan 2025) and his

team of now ~25 people provide Harrow the capabilities for all phases

of clinical research. Manufacturing is all outsourced and will continue

to be. Commercially, Harrow now has various segments established

that can grow through portfolio expansion including 1) dry eye (Harrow

envisions ultimately having more than one product here), 2) retina

(Iheezo, triescence, biosimilars), 3) surgical (triesence previously but

will be same call point as G-MELT).

○G-MELT is a big part of Harrow's mid-term vision with the

current run rate of the compounded version equating to ~

$75M annual run rate in Harrow's estimation, plus potential

expansion into non-cataract procedures with maybe a single

supplemental study requirement (to be discussed at pre-NDA

meeting in August). The label for Versed syrup is a good analog