Glaukos (GKOS) investor relations material

Strategic evolution and market positioning

• Transitioning from a device-focused company to a leader in pharmaceutical and hybrid solutions, with a growing emphasis on large market opportunities and differentiated products.

• Building infrastructure and talent for rare disease launches, notably Epioxa, and expanding into new therapeutic areas.

• Unlocking significant opportunities, with a focus on sustained execution and long-term growth.

Core MIGS market and iDose impact

• MIGS market experienced double-digit growth last year but is expected to be flat next year, with stabilization after LCD impacts.

• iDose is cannibalizing some stent business, as physicians prefer its clinical profile and outcomes.

• Reimbursement changes are affecting professional fees, but facility economics remain stable.

• Standalone MIGS procedures are expanding, benefiting multiple technologies as the market grows.

iDose launch and reimbursement landscape

• iDose launch exceeded clinical expectations, but reimbursement hurdles with MACs have slowed adoption.

• Four of seven MACs now have professional fee schedules, covering about 70% of Medicare lives; the rest require ongoing education and claims volume.

• Full reimbursement across all MACs would enable targeting a large patient population, with significant unmet need in glaucoma treatment.

• Next-generation iDose TREX aims for longer duration and potential in-office procedures, with clinical studies underway.