HARROW, INC.

# Signal Note: Deerfield Initiates HROW Position Deerfield's entry into Harrow suggests conviction in the ophthalmic company's portfolio, likely driven by commercial traction in dry eye disease (Aciont) or upcoming catalyst visibility in the company's pipeline. At $426K, this represents a modest but deliberate initiation that signals Deerfield's confidence in management execution rather than a major conviction bet. Monitor upcoming earnings calls for commercial metrics and pipeline milestones to validate the thesis.