Shares of Harrow, Inc. (HROW) were rising more than 15 percent in pre-market on Thursday at $20.45, after the eyecare pharmaceutical company said it hopes to relaunch Triesence, a synthetic corticosteroid approved for visualization during vitrectomy and for the treatment of ocular inflammatory conditions that are unresponsive to topical corticosteroids, during this year.
The company, which had acquired the U.S. commercial rights to Triesence, said it has manufactured the first of three commercial-scale process performance qualification (PPQ) batches of Triesence. It has also scheduled the second and third required PPQ batches. If these PPQ batches meet specifications, the new Triesence production process will be considered as complete, paving way for Harrow to relaunch during 2024.
Triesence has been on the FDA Drug Shortage List for over five years with all Triesence inventories having been depleted in the U.S. market for over two years, the company said in a release.
Harrow shares had closed at $17.65, down 0.23 percent on Wednesday. The stock has traded in the range of $7.60 - $22.63 in the last 1 year.
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