Harrow Acquires TYRVAYA, First FDA-Approved Nasal Spray for Dry Eye, for Up to $100M
HROW sits 40% above its 52-week low of $28.54 on light trading volume (0.4× avg).
Summary
Harrow is acquiring global rights to TYRVAYA, the only FDA-approved nasal spray for dry eye disease, from Viatris for $30 million upfront and up to $70 million in sales milestones. The deal adds a differentiated, drop-free treatment to its dry eye franchise alongside VEVYE, targeting patients who cannot tolerate eye drops. Management expects the transaction to be accretive shortly after closing, leveraging existing commercial infrastructure. This follows a Q1 marked by revenue decline and wider losses, making the acquisition a strategic move to bolster growth. Closing is expected in the second half of 2026.
At the time of this announcement, HROW was trading at $40.00 on NASDAQ in the Life Sciences sector, with a market capitalization of approximately $1.5B. The 52-week trading range was $28.54 to $54.85. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: GlobeNewswire.