Glaukos Corporation (GKOS) is an ophthalmic pharmaceutical and medical technology company specializing in innovative therapies for chronic eye diseases, including glaucoma, corneal disorders, and retinal diseases. The company develops and commercializes advanced medical devices and pharmaceutical therapies designed to improve patient outcomes and disrupt traditional treatment paradigms. Its offerings include minimally invasive surgical devices, bio-activated pharmaceutical therapies, and cutting-edge drug delivery systems.
- Glaucoma - Develops and markets Micro-Invasive Glaucoma Surgery (MIGS) devices and pharmaceutical therapies, including the iDose TR, which delivers sustained intraocular pressure reduction for glaucoma and ocular hypertension patients.
- Corneal Health - Provides bio-activated pharmaceutical therapies for corneal disorders, such as keratoconus, and is advancing treatments for dry eye and refractive vision correction.
- Retinal Diseases - Focuses on developing therapies for retinal conditions, including neovascular age-related macular degeneration, diabetic macular edema, and retinal vein occlusion.
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| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Thomas W. Burns ExecutiveBoard | Chairman of the Board and CEO | Board Member at Pulmonx Corporation (NASDAQ: LUNG) | Thomas W. Burns has been a director at Glaukos since 2002 and CEO since then. He became Chairman of the Board in 2021. He has a proven record of building successful medical device and pharmaceutical businesses. | View Report → |
Alex R. Thurman Executive | Senior Vice President & CFO | None | Alex R. Thurman joined Glaukos in July 2016 as VP, Global Tax and Administration. He became Senior VP & CFO in April 2022. He played a key role in building Glaukos' finance organization and SOX compliance. | |
Joseph E. Gilliam Executive | President and COO | Board Member at Caris Life Sciences | Joseph E. Gilliam joined Glaukos in May 2017 as CFO and Senior VP, Corporate Development. He was promoted to President and COO in April 2022. He played a pivotal role in leading Glaukos' IPO while at JPMorgan. | |
Tomas Navratil Executive | Chief Development Officer | None | Tomas Navratil joined Glaukos in October 2020 as Senior VP, R&D, and became CDO in April 2022. He has nearly 20 years of experience in ophthalmic drug and medical device R&D and regulatory affairs. | |
Aimee S. Weisner Board | Independent Director | Independent Director at Lensar, Inc. and STAAR Surgical Company | Aimee S. Weisner has been an Independent Director since 2014. She has extensive legal and compliance experience in the medical device and pharmaceutical industries. | |
David F. Hoffmeister Board | Independent Director | Director at Celanese Corporation, ICU Medical, Inc., StepStone Group, Inc., and Kaiser Permanente | David F. Hoffmeister has been an Independent Director since 2014. He has a strong finance background and extensive public company board experience. | |
Denice M. Torres Board | Independent Director | CEO of The Ignited Company, Board Member at Karuna Therapeutics, Surface Oncology, 2seventybio, National Resilience, and Thirty Madison | Denice M. Torres has been a Board Member since March 2021. She is the CEO of The Ignited Company and holds multiple board positions in the biotech sector. | |
Gilbert H. Kliman, MD Board | Independent Director | Independent Director at STAAR Surgical Company and Director at ORBIS International | Gilbert H. Kliman, M.D., has been an Independent Director since 2007. He is a practicing ophthalmologist with significant expertise in financial markets and board experience. | |
Marc A. Stapley Board | Independent Director | CEO and Board Member at Veracyte, Inc., Board Member at Helix Opco LLC, and Premier Foods, Inc. | Marc A. Stapley has been an Independent Director since 2014. He has held various executive roles in the biotech industry, including CEO of Veracyte. | |
Mark J. Foley Board | Lead Independent Director | CEO and Board Member at Revance Therapeutics, Inc. (Nasdaq: RVNC) | Mark J. Foley has been an Independent Director since 2014 and Lead Independent Director since December 2021. He serves as Chair of the CNG Committee and engages with top stockholders on governance matters. |
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With the expected slowdown to high single-digit growth in your international glaucoma business due to FX headwinds and competition from new product launches by competitors like Alcon in key markets such as Japan and France, how does the company plan to mitigate these challenges and sustain international growth momentum?
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Given that the non-iDose revenues in your U.S. glaucoma business are projected to be flat or even decline due to LCD headwinds and the expiration of the Hydrus royalty, what specific strategies are you implementing to revitalize growth in your core iStent franchise?
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Considering the historical challenges with patient access and reimbursement for Photrexa, how are you addressing potential obstacles with the upcoming launch of Epioxa to ensure a smoother commercialization and better patient access?
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In light of the reimbursement complexities for iDose TR, especially regarding professional fee schedules and MAC coverage, what is your timeline and strategy for achieving consistent reimbursement confidence among providers, and how might any delays impact your 2025 iDose TR growth expectations?
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With dependencies on regulatory approvals like the MDR approval for iStent Infinite in Europe and potential competitive pressures, how are you adjusting your forecasts and investment priorities to account for these uncertainties in your pipeline and international expansion plans?
Research analysts who have asked questions during GLAUKOS earnings calls.
Allen Gong
JPMorgan Chase & Co.
4 questions for GKOS
Anthony Petrone
Mizuho Group
4 questions for GKOS
Larry Biegelsen
Wells Fargo & Company
4 questions for GKOS
Michael Sarcone
Jefferies
4 questions for GKOS
Ryan Zimmerman
BTIG
4 questions for GKOS
Thomas Stephan
Stifel
4 questions for GKOS
Danielle Antalffy
UBS Group AG
3 questions for GKOS
David Saxon
Needham & Company
3 questions for GKOS
Joanne Wuensch
Citigroup Inc.
3 questions for GKOS
Richard Newitter
Truist Securities
3 questions for GKOS
Adam Maeder
Piper Sandler Companies
2 questions for GKOS
Mason Carrico
Stephens Inc.
2 questions for GKOS
Patrick Wood
Morgan Stanley
2 questions for GKOS
Steven Lichtman
Oppenheimer & Co. Inc.
2 questions for GKOS
K. Gong
JPMorgan Chase & Co.
1 question for GKOS
Macauley Kilbane
William Blair & Company
1 question for GKOS
Matthew O'Brien
Piper Sandler & Co.
1 question for GKOS
Ravi Misra
Truist Securities
1 question for GKOS
Competitors mentioned in the company's latest 10K filing.
| Company | Description |
|---|---|
PeschkeTrade GmBH | Globally competes against numerous providers of corneal crosslinking therapies, particularly in the area of corneal disorders. |
A large company that competes in multiple areas, including corneal disorder therapies, retinal health pipeline, and procedural pharmaceutical products for glaucoma. | |
Competes in the corneal disorder space and acquired Ivantis Inc. in January 2022, making it a competitor in the MIGS (Micro-Invasive Glaucoma Surgery) offerings. | |
A large company competing in the corneal disorder space, particularly in areas like dry eye and refractive conditions. | |
A large pharmaceutical company that may compete with the retinal health pipeline if approved. | |
Genentech/Roche | A significant competitor in the retinal health pipeline space. |
A large pharmaceutical company competing in the retinal health pipeline area. | |
Bayer | A competitor in the retinal health pipeline space. |
Sight Sciences | Competes in the MIGS offerings for glaucoma treatment. |
New World Medical | A competitor in the MIGS offerings for glaucoma treatment. |
Recent press releases and 8-K filings for GKOS.
- Glaukos Corporation reported record third quarter 2025 consolidated net sales of $133.5 million, representing a 38% increase on a reported basis versus the year-ago quarter.
- The company raised its full year 2025 net sales guidance to a range of $490 million-$495 million and introduced a preliminary 2026 revenue guidance of $600 million-$620 million.
- The FDA approved Epioxa, a new corneal cross-linking treatment for keratoconus, with a wholesale acquisition cost (WAC) of $78,500, and commercial availability is expected in Q1 2026.
- Sales of iDose TR reached approximately $40 million in the third quarter of 2025, contributing to strong growth in the U.S. glaucoma franchise.
- Glaukos plans to discontinue Photrexa's commercial availability in 2026, transitioning to Epioxa as the primary treatment option.
- Glaukos Corporation reported record third quarter 2025 consolidated net sales of $133.5 million, marking a 38% increase on a reported basis compared to the year-ago quarter.
- The company raised its full-year 2025 net sales guidance to a range of $490 million to $495 million, up from the previously stated $480 million to $486 million.
- The strong third-quarter performance was significantly driven by growing iDose TR adoption, which generated approximately $40 million in sales during the quarter.
- Glaukos announced the FDA approval of Epioxa, a new corneal cross-linking treatment for keratoconus, with a wholesale acquisition cost set at $78,500 and anticipated commercial availability in the first quarter of 2026. The company plans to discontinue Votrexa commercial availability in 2026 following a staged transition.
- A preliminary 2026 revenue guidance range of $600 million to $620 million was introduced, factoring in the continued commercial rollout of iDose TR and the launch of Epioxa.
- Glaukos Corporation reported record Q3 2025 consolidated net sales of $133.5 million, marking a 38% increase on a reported basis compared to the prior year quarter, primarily driven by iDose TR adoption.
- The company raised its full-year 2025 net sales guidance to a range of $490 million to $495 million from the previously stated $480 million to $486 million.
- Additionally, Glaukos introduced preliminary 2026 revenue guidance of $600 million to $620 million.
- The FDA approved Epioxa, a new topical drug therapy for keratoconus, which is anticipated to contribute to revenue starting in 2026.
- Glaukos ended the quarter with a strong balance sheet, holding $278 million in cash and no debt.
- Glaukos Corporation reported record net sales of $133.5 million for Q3 2025, marking a 38% increase year-over-year.
- The company raised its full-year 2025 net sales guidance to a range of $490 million to $495 million and introduced preliminary 2026 net sales guidance of $600 million to $620 million.
- Glaukos announced FDA approval for Epioxa in October 2025, with commercial availability expected in Q1 2026, and commenced commercial launch activities for iStent infinite® in key European markets.
- The company ended Q3 2025 with approximately $277.5 million in cash, cash equivalents, short-term investments, and restricted cash, and no debt.
- Glaukos reported record net sales of $133.5 million in Q3 2025, marking a 38% increase year-over-year.
- The company raised its 2025 net sales guidance to $490 million to $495 million and provided preliminary 2026 net sales guidance of $600 million to $620 million.
- For the third quarter of 2025, Glaukos recorded a net loss of $16.2 million, or ($0.28) per diluted share, with a non-GAAP net loss of $9.2 million, or ($0.16) per diluted share.
- Glaukos concluded Q3 2025 with approximately $277.5 million in cash and cash equivalents, short-term investments, and restricted cash, and no debt.
- The U.S. Food and Drug Administration (FDA) has approved Glaukos Corporation's Epioxa, the first FDA-approved topical, incision-free drug therapy for keratoconus.
- Epioxa is designed to significantly improve patient comfort and minimize recovery time compared to traditional surgical treatments, and is expected to be commercially available in the first quarter of 2026.
- Following the announcement, Glaukos's shares opened 1.8% higher at $88.80, reflecting a market capitalization of approximately $5 billion.
- Despite this approval, Glaukos currently faces financial challenges, including negative earnings and declining profit margins.
- Glaukos announced the FDA approval of Epioxa™ HD / Epioxa™, a novel, incision-free, topical drug therapy for keratoconus.
- Epioxa is the first and only FDA-approved treatment for keratoconus that does not require removal of the corneal epithelium, aiming to improve patient comfort and reduce recovery time compared to traditional procedures.
- The company expects Epioxa to be commercially available in the first quarter of 2026.
- Glaukos reported four consecutive quarters of over 20% growth, including 29% constant currency growth in Q2 FY 2025, and management anticipates 20%+ growth is achievable for the coming years.
- The company's near-term financial priority is cash flow breakeven and generating cash, not profitability, to enable continued investment in its pipeline and growth initiatives.
- iDose sales reached $31 million in Q2 FY 2025, with 80% of sales driven by Noridian and Novitas. Benefits from NGS, the third-largest MAC, are expected in Q4 FY 2025 and more significantly in 2026.
- The anticipated Epioxa launch is expected to bring a price premium and expand the market, though volume headwinds are projected for 2026 due to commercial payer dynamics, despite an overall growth path for the corneal health franchise.
- The LCD headwind for the MIGS business likely peaked in Q2 FY 2025 and is expected to be largely lapped by 2026; however, Glaukos's prioritization of iDose will create a growth headwind for stents.
- Glaukos Corporation filed an 8-K on August 12, 2025, to present an Investor Presentation.
- The company's core growth strategy focuses on leading-edge innovation across five novel platforms and four therapeutic areas, with over $750 million invested in R&D since 2018.
- Key commercial catalysts include iDose® TR, which received FDA approval in 2023, and Epioxa (Epi-on) for Keratoconus, with an NDA filed and a PDUFA date of October 20, 2025.
- As of June 30, 2025, Glaukos reported a healthy balance sheet with $279 million in cash and equivalents and no debt, and a Q2 2025 gross margin of 83%. The company's net sales were $283 million in 2022, $315 million in 2023, $383 million in 2024, with a 2025 guidance midpoint of $483 million.
- Glaukos reported record consolidated net sales of $124.1 million in Q2 2025, an increase of 30% on a reported basis compared to the prior year.
- The company raised its full-year 2025 net sales guidance range to $480 million to $486 million.
- U.S. Glaucoma net sales reached $72.3 million in Q2 2025, growing 45% year-over-year, primarily driven by iDoseTR, which generated approximately $31 million in sales.
- Glaukos received EU MDR clearance for iStent Infinite and plans to commence commercial launch activities in key European markets in September. The PDUFA date for Epioxxa's NDA review is October 20, 2025, with a commercial launch targeted for next year.
- The FDA decision regarding iDoseTR re-administration is now expected by January 28, 2026.