Company: HROW
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000925
Chunk: 594

Company: HARROW, INC.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 2
Chunk 594
---
    2023 
  
    Patents 
    $56,000  
    $84,000 
  
    Licenses 
     35,000  
     7,000 
  
    Acquired NDAs 
     11,669,000  
     9,937,000 
  
    Customer relationships 
     22,000  
     54,000 
  
    Trade name 
     1,000  
     - 
  
    Amortization
    expense of intangible assets 
    $11,783,000  
    $10,082,000 

Estimated future amortization expense for the Company’s
intangible assets at December 31, 2024 is as follows:

 SCHEDULE
OF ESTIMATED FUTURE AMORTIZATION EXPENSE

    Years ending December 31, 

    2025 
    $16,903,000 
  
    2026 
     16,903,000 
  
    2027 
     16,612,000 
  
    2028 
     16,205,000 
  
    2029 
     16,095,000 
  
    Thereafter 
     102,001,000 
  
    Intangible
    assets 
    $184,719,000 

In connection with an asset purchase agreement between
Novartis and the Company, the Company recognized a $37,000,000 milestone payment during 2024 following the release of the first commercially
available batch of TRIESENCE. The milestone payment was recognized as an increase in the amount of intangible assets for Acquired NDAs.

There were no changes in the carrying value of the
Company’s goodwill during the years ended December 31, 2024 and 2023.

NOTE 12. ACCOUNTS
PAYABLE AND ACCRUED EXPENSES

Accounts payable and accrued expenses at December
31, 2024 and 2023 consisted of the following:

 SCHEDULE OF ACCOUNTS PAYABLE AND ACCRUED EXPENSES

    2024  
    2023 

    December 31, 

    2024  
    2023 
  
    Accounts payable 
    $38,762,000  
    $21,424,000 
  
    Accrued insurance premium 
     -  
     873,000 
  
    Accrued interest (see