ALISO VIEJO, Calif. - Glaukos Corporation (NYSE: NYSE:GKOS), a $8.14 billion medical technology company that has delivered an impressive 71% return to investors over the past year, today announced the latest clinical trial results for iDose TR, highlighting the product's sustained efficacy in reducing intraocular pressure (IOP) in glaucoma patients. According to InvestingPro data, the company maintains a strong gross profit margin of 76.6%. The 36-month follow-up of two Phase 3 pivotal trials revealed that approximately 70% of subjects treated with iDose TR maintained controlled IOP levels with the same or fewer medications compared to 58% in the timolol control group.
iDose TR, an FDA-approved prostaglandin analog, has shown continued tolerability and a favorable safety profile over the 36-month period. These findings support Glaukos' mission to offer innovative treatments for chronic eye diseases, including glaucoma and ocular hypertension.
Additionally, Glaukos has initiated a Phase 2b/3 clinical program for iDose TREX, aiming to enhance the drug capacity of the iDose technology. A separate 6-month analysis of a Phase 4 study indicated that iDose TR, when used in conjunction with cataract surgery, led to a significant mean IOP reduction of 44%.
The iDose platform is designed to address patient non-adherence and side effects associated with topical medications by providing a targeted, minimally-invasive implant that delivers medication within the eye over extended periods. This innovation has contributed to Glaukos's robust revenue growth of 18.7% over the last twelve months, as reported by InvestingPro.
Glaukos' development of iDose TR is part of the company's broader commitment to advancing treatments for glaucoma, corneal disorders, and retinal diseases. The company has been at the forefront of Micro-Invasive Glaucoma Surgery (MIGS) since its first MIGS device launch in 2012.
The information in this article is based on a press release statement from Glaukos Corporation.
In other recent news, Glaukos Corporation has seen a flurry of positive developments. Stifel analysts have increased their price target on Glaukos shares to $175, following positive feedback from a survey of iDose-trained surgeons. The firm anticipates that fourth-quarter 2024 iDose sales will reach at least the mid-teen millions range, significantly outperforming current market expectations. Furthermore, survey results suggest robust volume predictions for 2025, which could lead to total sales exceeding $150 million.
In addition, Glaukos has submitted a New Drug Application (NDA) to the U.S. Food and Drug Administration (FDA) for Epioxa, a novel treatment for keratoconus, a progressive eye disease. If approved, Epioxa would be the first FDA-sanctioned, non-invasive corneal cross-linking therapy that preserves the corneal epithelium.
Analyst firms have also weighed in on Glaukos' prospects. Citi upgraded Glaukos from Neutral to Buy, expecting a positive inflection in sales of its iDose product in 2025. Mizuho (NYSE:MFG) Securities retained a Neutral rating on Glaukos but increased the price target in anticipation of a significant year ahead for the company. Piper Sandler analysts expressed optimism for Glaukos, expecting the company to maintain its premium valuation and strong growth profile. These are recent developments that investors should note.
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