Glaukos Corporation · NYSE:GKOS
Glaukos — Investor Presentation (May 2019)
28 slides from Glaukos's investor presentation, May 13, 2019
Slide 1: May 2019
1 © 2019 Glaukos Corporation 1 May 2019
Slide 2: Forward-looking statements
2 © 2019 Glaukos Corporation All statements other than statements of historical facts included in this presentation that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. Although we believe that we have a
Slide 3: Our Mission and Long-term Goal
3 © 2019 Glaukos Corporation We are transforming glaucoma therapy… OUR MISSION TODAY To pioneer and lead the global glaucoma market with micro- scale injectable therapies that advance the standard-of-care and enrich the lives and treatment alternatives for glaucoma patients worldwide. O U R L O N G
Slide 4: We've Made Tremendous Progress Thus Far
4 © 2019 Glaukos Corporation 2014 2015 2016 2017 Total Net Sales (in millions) $225-230M FY 2019 Revenue Guidance, Updated 5/8/2019 $154M Cash, Short-Term Equivalents, & Restricted Cash 1 1 As of 3/31/2019 $21.0 $45.6 $71.7 $114.4 $159.3 $181.3 2018 5-Yr CAGR: 54% 87% 1Q 2019 Gross Margin We’ve Made
Slide 5: We've Made Tremendous Progress Thus Far… Key Metrics
5 © 2019 Glaukos Corporation We’ve Made Tremendous Progress Thus Far… Key Metrics 6/30/15 12/31/18 % Growth Commercial sales personnel worldwide 65 191 Employees worldwide 139 437 214% 194% iStents, iStent injects implanted globally Issued, licensed or pending patents +500K +200 Articles in peer- re
Slide 6: Strategic Investments Designed to Stimulate and Support Our Growth
6 © 2019 Glaukos Corporation …And We Believe It Is Just The Beginning Of Our Long-Term Growth Story New products being evaluated by FDA 2018 revenue invested in R&D 4 27% Scientists, engineers focused on pipeline development 30+ • Optimizing worldwide Clinical & Regulatory structure • Upgrading glob
Slide 7: Novel Surgical & Pharmaceutical Glaucoma Therapy
7 © 2019 Glaukos Corporation Novel Surgical & Pharmaceutical Glaucoma Therapy
Slide 8: Current OAG Treatment Algorithm
8 © 2019 Glaukos Corporation Ocular Hypertension IOP of 21-30 mmHg Target IOP 20% ↓ from baseline; ≤ 18 mmHg Treatment 0-1 med Mild OAG IOP of 25-30 mmHg with minor optic nerve damage and visual field loss Moderate OAG IOP of > 30 mmHg with moderate optic nerve damage and visual field loss Advanced
Slide 9: Portfolio of Micro-Scale Injectable Therapy
9 © 2019 Glaukos Corporation OAG Progression OCULAR HYPERTENSION MILD MODERATEADVANCED REFRACTORY Addressing full range of glaucoma disease states and progression Injectable drug delivery implant; sustained drug therapy for extended periods Envision use alone or in combination with other MIGS device
Slide 10: Portfolio of Micro-Scale Injectable Therapy timeline
10 © 2019 Glaukos Corporation OAG Progression OCULAR HYPERTENSION MILD MODERATEADVANCED REFRACTORY Addressing full range of glaucoma disease states and progression Portfolio of Micro-Scale Injectable Therapy REFRACTORYADVANCEDMODERATEMILDOCULAR HYPERTENSION TM TM ® iStent SA, iStent Supra, iStent in
Slide 11: iStent inject: First-of-a-Kind Multi-Stent System
11 © 2019 Glaukos Corporation iStent inject: First-of-a-Kind Multi-Stent System OAG Progression OCULAR HYPERTENSION MILD MODERATEADVANCED REFRACTORY Two multi-directional, titanium stents preloaded into auto injection system Designed to deliver access to multiple collector channels and restore natur
Slide 12: Peer-Reviewed Publications on iStent inject or Multiple iStent Therapy
12 © 2019 Glaukos Corporation 39 Peer-Reviewed Publications on iStent inject or Multiple iStent® Therapy Consecutive case series study in primarily OAG eyes; 81 implanted with iStent inject in combination with cataract surgery Hengerer F. Ophthalmology & Therapy December 2018 Mean IOP mmHg 22.6 14.8
Slide 13: iStent inject: Successful Launch Continues
13 © 2019 Glaukos Corporation iStent inject: Successful Launch Continues American Academy of Ophthalmology – October 2018 Commercially available in US, EU, Australia, Brazil, Canada 0191T consistently reimbursed; 0376T add-on code represents professional fee upside
Slide 14: iStent inject: Recent Surgeon Observations
14 © 2019 Glaukos Corporation iStent inject: Recent Surgeon Observations
Slide 15: iStent inject vs. Competition
15 © 2019 Glaukos Corporation iStent inject Ivantis Hydrus iStent inject vs. Competition Smallest device known to be implanted in the human body, measuring 360 µm x 230 µm Part of market- expanding portfolio from MIGS pioneer
Slide 16: MIGS Standalone Solution for Advanced and Refractory OAG
16 © 2019 Glaukos Corporation MIGS Standalone Solution for Advanced and Refractory OAG Three heparin-coated trabecular bypass stents, preloaded into auto injection system Enhanced insertion system provides unlimited activations and smooth implantation of each stent across 5-6 clock hours of Schlemm’
Slide 17: Standalone 2-Stent Therapy for Mild to Moderate OAG
17 © 2019 Glaukos Corporation Two heparin-coated titanium stents, preloaded into auto injection system Ability to enter the eye once to implant both stents in straightforward click-and- release motion Standalone 2-Stent Therapy for Mild to Moderate OAG OAG Progression OCULAR HYPERTENSION MILD MODERA
Slide 18: Multi-Year Collaboration and Distribution Agreement with Santen
18 © 2019 Glaukos Corporation Multi-Year Collaboration and Distribution Agreement with Santen • Glaukos to become exclusive distributor of MicroShunt (to be rebranded PRESERFLO® MicroShunt) in US • Ab-externo surgical device being studied in US FDA pivotal trial; Santen expected to file PMA in 2019
Slide 19: iDose Travoprost: First-of-a-Kind Intraocular Drug Delivery Device
19 © 2019 Glaukos Corporation Drug Reservoir Scleral Anchor Retaining Cap Elution Membrane Titanium implant (1.8 mm x 0.5 mm) designed for continuous drug delivery directly into anterior chamber Filled with proprietary, novel and uber-potent formulation of travoprost; membrane-controlled Fickian elu
Slide 20: iDose Travoprost US Phase II: Preliminary Efficacy Results
20 © 2019 Glaukos Corporation iDose Travoprost US Phase II: Preliminary Efficacy Results Average IOP reductions through Month 12 ranging from 7.9 to 8.5 mmHg in the implant arms Represents 32-33% reduction in the implant arms Average IOP Reductions from Baseline through Month 12* Fast Elution Slow E
Slide 21: Understanding Need for Alternative to Topical Medications
21 © 2019 Glaukos Corporation 53% iDose Travoprost: Understanding Need for Alternative to Topical Medications Key Non-Adherence Statistics1 1 Quigley HA Glaucoma: What Every Patient Should Know 2011; Friedman DS et al Invest Ophthalmol Vis Sci. 2007; Glaucoma Research Foundation; Market Scope 2 AGIS
Slide 22: Understanding the US Glaucoma Pharmaceutical Market
22 © 2019 Glaukos Corporation Prostaglandins Beta Blockers Alpha Agonists Combination Drugs Other 53% Topical Pharmaceuticals Dominate the Market iDose Travoprost: Understanding the US Glaucoma Pharmaceutical Market 2017 2022 8.2M 9.8M Primary OAG Ocular Hypertension Diagnosed and Treated Population
Slide 23: iDose Travoprost Procedure
23 © 2019 Glaukos Corporation iDose Travoprost Procedure iDose Travoprost is an unapproved drug and limited by US law to investigational use
Slide 24: iDose Travoprost Exchange (Removal) Procedure
24 © 2019 Glaukos Corporation iDose Travoprost Exchange (Removal) Procedure iDose Travoprost is an unapproved drug and limited by US law to investigational use
Slide 25: Strategy for Expanding Our Market
25 © 2019 Glaukos Corporation Leverage Core Competencies Leveraging unique expertise in micro- mechanical design, assembly and filling processes Build Seasoned Team Building seasoned ocular drug delivery team of chemists, scientists, engineers Focused on early-stage product development, novel sustai
Slide 26: Potentially Expanding Our Annual Market Opportunity
26 © 2019 Glaukos Corporation Potentially Expanding Our Annual Market Opportunity 7x+ OHT/POAG prevalence: ~18M eyes 8.2M eyes diagnosed and treated Growing 3.5% annually 33% of standalone OHT/POAG population is pseudophakic Combination therapy drives more opportunity for Glaukos portfolio * 2017 ma
Slide 27: Glaukos: Transitioning into Ophthalmic Pharma/Device Leader
27 © 2019 Glaukos Corporation Glaukos: Transitioning into Ophthalmic Pharma/Device Leader • Delivering novel solutions that address important unmet clinical needs in large and growing markets • Strengthening position as global MIGS leader with successful US launch of iStent inject • Advancing solid
Slide 28: 28 © 2019 Glaukos Corporation 2 8
28 © 2019 Glaukos Corporation 2 8