Shares of Harrow, Inc. (HROW) are moving down about 21 percent on Tuesday morning trading following the announcement that the U.S. FDA has cleared its Investigational New Drug application to support a Phase 3 clinical trial of TRIESENCE for the treatment of ocular inflammation and pain following cataract surgery.
The company's stock is currently trading at $41.94, down 21.78 percent or $11.60, over the previous close of $53.59 on the Nasdaq. It has traded between $20.85 and $54.85 in the past one year.
TRIESENCE is already FDA-approved for intraocular use and widely utilized by ophthalmologists to treat ocular inflammation. Expanding its label to include cataract surgery patients could reduce challenges with eye drop adherence, particularly among older individuals facing dexterity or cognitive limitations.
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