Watch for Harrow's Q4 2026 and full-year 2027 earnings to assess TYRVAYA revenue ramp and integration progress. The $30M+ 2027 revenue guidance provides a concrete benchmark; any deviation will move the stock.
Price Chart
Executive Summary
Harrow closed its acquisition of TYRVAYA (varenicline solution) nasal spray from Viatris for $30M in cash at closing, with up to $70M in contingent milestone payments. The deal adds a complementary dry eye therapy to Harrow's existing VEVYE franchise, and the company expects TYRVAYA to contribute more than $30M in revenue in 2027. The acquisition is funded with cash on hand and expands Harrow's commercial team by approximately 40 personnel.
Key Financial Metrics
Key Facts
- Harrow closed acquisition of TYRVAYA (varenicline solution) nasal spray from Viatris for $30M cash at closing, plus up to $70M in contingent milestone payments.
- TYRVAYA is the first and only FDA-approved nasal spray for dry eye disease (DED).
- Harrow expects TYRVAYA to contribute more than $30 million in revenue in 2027.
- Approximately 40 Viatris personnel with TYRVAYA and dry eye market experience will join Harrow's Ocular Surface commercial team.
- The acquisition was funded with cash on hand; no new debt or equity issuance mentioned.
- TYRVAYA is approved in the U.S., China, and Taiwan, with marketing applications pending in additional markets.
Financial Impact
$30M cash paid at closing; up to $100M total consideration including milestones; expected $30M+ revenue contribution in 2027
Risk Factors
- Contingent milestone payments of up to $70M could pressure cash flow if TYRVAYA sales underperform.
- Integration of 40 new personnel and two-brand commercial strategy carries execution risk.
- Dry eye market is competitive with multiple established therapies; TYRVAYA's nasal spray route may limit adoption vs. topical drops.
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3374393 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | 8-K | $30.58 $30.35 | ▼ −0.75% | ▼ −1.30% | $28.63 (−6.39%) |
Oct 5, 2026 21d ago | Press Release | $30.58 $30.35 | ▼ −0.75% | ▼ −1.30% | $28.63 (−6.39%) |
Aug 10, 2026 10w ago | 8-K | $39.42 $39.36 | ▼ −0.15% | ▼ −0.40% | $28.63 (−27.38%) |
Aug 10, 2026 10w ago | Press Release | $39.42 $39.36 | ▲ +0.15% | ▲ +0.40% | $28.63 (+27.38%) |
Aug 6, 2026 11w ago | 8-K | $39.92 $40.44 | ▲ +1.30% | ▲ +0.69% | $28.63 (−28.29%) |
Jul 27, 2026 13w ago | Press Release | $37.46 | awaiting T+1 | — | $28.63 (−23.59%) |
Jul 20, 2026 14w ago | Press Release | $44.45 $43.71 | ▼ −1.66% | ▼ −2.50% | $28.63 (−35.60%) |
Jun 11, 2026 19w ago | Institutional Cluster | $37.64 $38.93 | ▲ +3.43% | ▲ +1.66% | $28.63 (−23.95%) |
Jun 11, 2026 19w ago | Institutional Cluster | $37.65 $37.64 | ▼ −0.03% | ▼ −0.57% | $28.63 (−23.97%) |
Jun 3, 2026 20w ago | 8-K | $33.32 $34.69 | ▲ +4.11% | ▲ +3.71% | $28.63 (−14.09%) |
US Market Status
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