$HROW will 10x over the next few years. One reason? Iheezo is exiting early-adopter phase & entering the rapid-growth part of the S-curve: record new-account adds, high retention, large remaining TAM
Most investors don't know Iheezo is a much better drug for patients. One even told me recently that Iheezo was a sign of everything wrong with healthcare in the US! But doctors who use it are starting to share their experience: patient pain following surgery is reduced, vision recovers faster, and follow up care for complications is reduced.
Retina patients get an injection each month, and many can't get back to their regular lives for one, two, or even three days. Iheezo patients who get an injection in the morning can get back to normal life in the afternoon. This happens EACH MONTH for these patients, who are literally reclaiming a huge part of their best lives.
The recent study showing reduced follow on pain P~0.001 is very good, but only part of the story, since it leaves out the recovery in vision, the reduced complications, and the simple fact that patients are back to normal right away instead of waiting to recover. Doctors who know this, and who like their patients, will give them Iheezo. For the docs who don't, what is wrong with you??? ๐
For those who don't know, Iheezo is up to 224 ordering accounts, including 62 new accounts in Q2 alone, by far the best quarter of account adds ever. This is the drug entering the inflection point of the S -curve. Confusing the market is the fact that GAAP moves revenue around from one quarter to the next, so that the benefits will begin to be seen next quarter. The market doesn't get it yet, but it's coming.
But Q3 and then Q4 especially will be huge, look for $100M of revenue, and then in 2027 and beyond a massive ramp. TAM > $5B for Iheezo, it goes on label for Retina in 2028 most likely, has a J-code, is waaay better for patients, and we can compare to $HROW full company revenue today: consensus $350M in 2026.
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