Harrow Health Inc (HROW) stock is soaring 5.95% in pre-market trading on Monday, following a significant regulatory approval for its product Triesence. The surge comes after the Centers for Medicare & Medicaid Services (CMS) granted transitional pass-through status for Harrow's Triesence 40 mg/ml.
According to the announcement, Triesence will be eligible for separate reimbursement in Ambulatory Surgery Center (ASC) and Hospital Outpatient Department (HOPD) settings starting from April 2025. This approval marks a crucial milestone for Harrow Health, as it potentially opens up new revenue streams and market opportunities for the company.
The transitional pass-through status is expected to enhance the accessibility of Triesence to patients and potentially boost its adoption in medical settings. This development could significantly impact Harrow Health's financial outlook, as improved reimbursement often leads to increased product utilization. Investors appear to be reacting positively to this news, viewing it as a catalyst for potential growth in Harrow's market share and profitability in the ophthalmic pharmaceutical sector.
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