Imprimis Pharmaceuticals Stock Earnings Reports

Harrow reported Q1 2026 revenue of $44.2 million and adjusted EBITDA of negative $12.7 million. Management attributes a discrete ~$8 million revenue reduction in Q1 to a gross-to-net pricing/mix dynamic tied to a rapid surge of high-deductible patients filling VEVYE under new commercial coverage. The company implemented business-rule changes in mid-April (caps, co-pay buydown limits and program refinements) to protect net pricing and says early indicators show demand was not harmed. Management reaffirmed full-year 2026 revenue guidance of $350M–$365M and reiterated its longer-term target of $250M in quarterly revenue by end of 2027. Commercially, Harrow is scaling its salesforce (~90–100 new hires) across dry eye (VEVYE), surgical (TRIESENCE) and other specialty teams; VEVYE surpassed XIIDRA in total prescriptions by end of March and is seeing accelerating new-prescription and refill trends. IHEEZO demand is building (retina remains >80% of volume), with multiunit packaging, improved net pricing (~20–25% benefit expected), and retina clinical data due in July and QUELL top-line in Q4 as catalysts for a step-up in H2. TRIESENCE shows sustained surgical adoption (six straight quarters of growth). The company also expects BYOOVIZ distributor stocking in Q2, BYQLOVI trade sales beginning in Q3 (sampling underway), and a permanent J-code for IOPIDINE (effective July 1) to enable in-office reimbursement. G-MELT (acquired from Melt) is progressing through PK and toxicology work toward an NDA trajectory targeting around early 2027. Overall, management emphasizes that demand is strong and that the Q1 gross-to-net issue was an isolated operational/modeling matter that has been remediated and should result in stronger sequential revenue beginning in Q2 and more pronounced acceleration in H2.