Slide 1: Investor Presentation March 2024
Investor Presentation March 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements This presentation, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act o
Slide 3: Our Mission
Our Mission Develop transformative, interventional technologies that allow eyecare providers to procedurally elevate the standards of care – empowering people to keep seeing. Eyecare Innovation in Glaucoma and Dry Eye
Slide 4: Large + Underserved Markets
1 Represents Company analysis of third-party estimates. 2 Source: Market Scope 2023 reports. Large + Underserved Markets $6.0 billion addressable U.S. market1 3.4 million U.S. patients diagnosed with Primary Open-Angle Glaucoma (POAG)2 Leading cause of irreversible blindness Predominantly managed me
Slide 5: Our Technologies: Effective + Intuitive Intervention
1 Estimate based on units of OMNI (and predicates) and SION units shipped as of December 31, 2023. 2 Estimate based on Dry Eye Treatment Lids shipped as of December 31, 2023. Our Technologies: Effective + Intuitive Intervention Surgical Glaucoma Comprehensive treatment of diseased conventional outfl
Slide 6: Strategic Value Creation Initiatives
Expand OMNI® Utilization Certification of new OMNI surgeons Gain share in combination cataract segment Continue developing standalone MIGS segment Generate additional clinical evidence Optimize coverage and equitable reimbursement Develop international markets TearCare® Access + Expansion Pursue cov
Slide 7: Primary Open-Angle Glaucoma and the Conventional Outflow Pathway
POAG is similar to a clog in a kitchen sink: when the eye’s natural drainage system (known as the conventional outflow pathway) is blocked and aqueous fluid cannot drain, intraocular pressure (IOP) rises which can cause optic nerve damage and irreversible blindness The Conventional Outflow Pathway i
Slide 8: OMNI: Minimally Invasive + Efficacious
OMNI comprehensively treats the conventional outflow pathway OMNI: Minimally Invasive + Efficacious A comprehensive procedure enabled by the OMNI Surgical System to help restore natural outflow in the eye with up to 360° treatment of all three areas of resistance in the conventional outflow pathway
Slide 9: OMNI Clinical Highlights
References: GEMINI (Clin Ophthalmol. 2022;16:1225–1234); ROMEO (J Cataract Refract Surg. 2021;47(7):907–915; Ophthalmol Glaucoma. 2021;4(2):173–81); TREY (Int Ophthalmol (2022)); ROMEO 2 Year (Clin Ophthalmol. 2023:17 1057–1066); GEMINI 2 (Clin Ophthalmol. 2023:17 3817-3824) OMNI Clinical Highlights
Slide 10: OMNI Addresses All Six MIGS POAG Categories
Combination Cataract MIGS <15%1 of POAG Eyes $1B Opportunity1 1 Represents Company analysis of third-party estimates based on 2023 data. Mild Disease (40%)1 Moderate Disease (40%)1 Advanced Disease (20%)1 Standalone MIGS >85%1 of POAG Eyes $5B Opportunity1 ~$0.4B Opportunity1 ~$2B Opportunity1 ~$2B
Slide 11: Large and Unmet Clinical Need for Standalone MIGS
1 Represents Company analysis of third-party estimates based on 2023 data. 2 Company estimates based on independent third-party analytics data based on 2023 data. Large and Unmet Clinical Need for Standalone MIGS ~15% of POAG eyes1, >90% of procedures2 Combination Cataract Established, growing marke
Slide 12: OMNI Surgical System: FDA Indication Allows Standalone and Combination Use
OMNI® Surgical System is the only MIGS device based on clinical data that can: 12 12 FDA Indication Allows for Standalone and Combination Cataract Utilization Use in Standalone or combo cataract procedures Access to 360 degrees of the diseased conventional outflow pathway through a clear corneal inc
Slide 13: Standalone Market Development is Underway
Standalone Market Development is Underway 1 Based on estimated patient visits with CPT codes 66174 and 65820 from a third-party data analytics provider during 2021-2023. OMNI technology meets enhanced efficacy and safety needs for standalone procedures ROMEO ROMEO 2-year extension TREY Sole purpose
Slide 14: Surgical Glaucoma Pipeline
14 *This pipeline product is under development and is not commercially available. The Company may suspend or discontinue pipeline development projects at any time. Surgical Glaucoma Pipeline Developing Comprehensive Best-in-Class Portfolio Pipeline Current Products Injection of Sustained Release Pha
Slide 15: Dry Eye Disease: Large + Underserved Disease State
1 Market Scope 2023 Dry Eye Products Report. 2 Lemp MA, Crews LA, Bron AJ, Foulks GN, Sullivan BD. Distribution of aqueous-deficient and evaporative dry eye in a clinic-based patient cohort: a retrospective study. Cornea. 2012;31(5):472-478. Dry Eye Disease: Large + Underserved Disease State TRABECU
Slide 16: Overview: Tears and MGD
1 Blackie CA, Solomon JD, Greiner JV, Holmes M, Korb DR. Inner eyelid surface temperature as a function of warm compress methodology. Optom Vis Sci. 2008 Aug;85(8):675-83. doi: 10.1097/OPX.0b013e318181adef. PMID: 18677234. Overview: Tears and MGD Meibomian Glands Healthy meibomian glands release liq
Slide 17: ~$2.5B Core MGD Opportunity
~$2.5B Core MGD Opportunity 17.9 million1 11.6 – 15.4 million U.S. MGD patients1,2 5.7 – 7.5 million moderate to severe1,2 $2.2B - $2.9B core opportunity4 1 Market Scope 2023 Dry Eye Products Report. 2 Lemp MA, Crews LA, Bron AJ, Foulks GN, Sullivan BD. Distribution of aqueous-deficient and evaporat
Slide 18: TearCare: Custom-Designed to Treat MGD
1 Blackie CA, Solomon JD, Greiner JV, Holmes M, Korb DR. Inner eyelid surface temperature as a function of warm compress methodology. Optom Vis Sci. 2008 Aug;85(8):675-83. doi: 10.1097/OPX.0b013e318181adef. PMID: 18677234. TearCare: Custom-Designed to Treat MGD TearCare Technology Engineered to liqu
Slide 19: SAHARA RCT: Study Successful and Primary Signs Superiority Endpoint Achieved
6-Month Endpoints Primary Signs Endpoint: TearCare superior to Restasis®2 in tear break-up time Primary Symptoms Endpoint: TearCare non-inferior to Restasis in OSDI3 Device vs. Drug Large study (n=345) Superiority+Durability1 Masked Randomized 1 Endpoints for SAHARA include superiority over Restasis
Slide 20: TearCare: Strategy Supports Targeted + Scalable Growth
1 Eyelid treatment units sold means the number of TearCare SmartLids sold during the three-month periods ending December 31, 2023 and December 31, 2022. 2 Dry Eye Active customers means number of customers who ordered eyelid treatment units during the three-month periods ending December 31, 2023 and
Slide 21: Healthy Revenue Growth and Top-Tier Gross Margins
Healthy Revenue Growth and Top-Tier Gross Margins $7.5 $23.3 $27.6 $49.0 $71.3 $81.1 Revenue CAGR FY18 to FY23 +61% FY23 Y/Y Revenue +14% SGHT +13% Surgical Glaucoma +18% Dry Eye FY23 Gross Margin % 85.3% SGHT 88.1% Surgical Glaucoma 54.8% Dry Eye Annual Revenue & Gross Margin % 21 Historical financ
Slide 22: Investment Highlights
Investment Highlights Two Large, Growing, Underserved Markets Competitive Differentiation Driven by Efficacy Compelling Clinical Data in Support of Coverage and Equitable Reimbursement Proven Commercial and Market Access Capabilities Strong Balance Sheet and Financial Discipline Experienced Manageme