Form 4: Opaleye Management Plans HROW Stock Sale

Opaleye Management, a 10% owner and director of Harrow, Inc., filed a Form 4 disclosing a pre-planned sale of 5,000 common shares scheduled for February 27, 2026, at $54.18 per share.

Summary

• Opaleye Management Inc., identified as a 10% owner and director of Harrow, Inc. (HROW), has filed a Form 4.
• The filing reports a planned disposition (sale) of 5,000 shares of HROW common stock.
• This transaction is scheduled to occur on February 27, 2026, at a price of $54.18 per share.
• The sale is being conducted pursuant to a Rule 10b5-1(c) plan, indicating it was pre-scheduled and not a discretionary sale based on new information.
• Following this planned transaction, Opaleye Management Inc. will beneficially own a total of 3,880,000 shares of HROW common stock indirectly.
• The remaining beneficial ownership includes 65,000 shares held by a separately managed account and 3,815,000 shares held by Opaleye, L.P.
• Opaleye Management Inc. disclaims beneficial ownership of the reported shares except to the extent of its pecuniary interest.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event. While a sale by a 10% owner is generally a negative signal, the pre-planned nature under Rule 10b5-1 mitigates concerns about immediate negative sentiment, suggesting it's for personal financial planning rather than a reaction to company performance.

Positives

• The sale is part of a pre-arranged Rule 10b5-1(c) plan, suggesting it is not a discretionary sale based on new negative information about the company.
• Opaleye Management Inc. retains a substantial beneficial ownership of 3,880,000 shares in Harrow, Inc. after the planned transaction, indicating continued significant investment.

Negatives

• A 10% owner and director is planning to reduce their beneficial ownership in the company by 5,000 shares.

Future Outlook

NA

Management Comments

• Opaleye Management Inc. disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Opaleye Management Inc. is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Industry Context

StockSavvy.ai notes that pre-planned sales under Rule 10b5-1 are common among insiders and large shareholders for diversification or liquidity purposes, and typically do not signal a change in the insider's view of the company's prospects, unlike discretionary sales.

Related Party Transactions

• The planned sale of 5,000 shares by Opaleye Management Inc., a 10% owner and director of Harrow, Inc., constitutes a related party transaction.

Stakeholder Impact

• Shareholders: The sale by a significant owner could be perceived negatively, but the pre-planned nature under Rule 10b5-1(c) may temper such concerns. The remaining substantial holding indicates continued investment.

Key Dates

Recommendation

The sale by Opaleye Management Inc. is a pre-planned transaction under Rule 10b5-1(c), which typically indicates a non-discretionary sale for portfolio management rather than a reflection of new negative information about Harrow, Inc. The reporting person retains a significant stake, suggesting continued confidence. Therefore, a 'hold' recommendation is appropriate as this specific transaction does not provide a strong signal for a change in investment thesis.

Keywords

Harrow Inc, HROW, Opaleye Management, Form 4, Insider Trading, Stock Sale, 10b5-1 Plan, Beneficial Ownership, Pharmaceuticals