Glaukos Corporation · NYSE:GKOS
Glaukos — Investor Presentation (August 2021)
28 slides from Glaukos's investor presentation, Aug 18, 2021
Slide 1: Glaukos Corporation August 2021
1 © 2021 Glaukos Corporation August 2021
Slide 2: Disclaimer
2 © 2021 Glaukos Corporation Disclaimer 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. These statements are ba
Slide 3: Significant Progress Continues Since 2015 IPO
3 © 2021 Glaukos Corporation $428 $104 2021 2015 84% 75% 2021 2014 GROSS MARGIN1 CASH & EQUIVALENTS (IN MILLIONS) 2 1 FY2014 GAAP & non-GAAP gross margin; 2Q 2021 GAAP gross margin of 77% was adjusted for certain Avedro merger-related accounting and other adjustments - see Appendix for details; 2 20
Slide 4: Creating a Unique Vision Care Leader
4 © 2021 Glaukos Corporation Our Strategy for Long-Term Growth & Profitability Creating a Unique Vision Care Leader Micro-Scale Surgical Devices Pharmaceuticals Biosensors Ocular Hypertension to Refractory Disease Glaucoma Corneal Health Keratoconus Ocular Surface Disease Refractive Conditions Retin
Slide 5: Serving the Clinical Needs of Large Patient Populations
5 © 2021 Glaukos Corporation Our Strategy for Long-Term Growth & Profitability Serving the Clinical Needs of Large Patient Populations 1 Estimate based on Glaukos algorithm of physician preference and combination therapy, utilization; assumes full product portfolio availability to physician, except
Slide 6: Glaucoma: 2021 Key Objectives
6 © 2021 Glaukos Corporation Ocular Hypertension to Refractory Disease Glaucoma SUBMIT ISTENT INFINITE PMA-S TO FDA COMPLETE IDOSE TR PHASE 3 TRIAL ENROLLMENT R&D PROGRESS ON IDOSE TREX & IDOSE ROCK LAUNCH PRESERFLO & CONTINUE IPRIME DEVELOPMENT 2021 KEY OBJECTIVES ~18M eyes in US, growing 3%/yr1 ~3
Slide 7: Glaucoma Micro-Surgical Portfolio
7 © 2021 Glaukos Corporation Glaucoma Micro-Surgical Portfolio Comprehensive, Tissue-Sparing Offering Designed to Address Full Range of Disease Progression & Facilitate Combination Therapies Creates 2 pathways for fluid outflow Creates 3 pathways for fluid outflow across 6 clock hours of Schlemm’s c
Slide 8: iStent infinite: Powerful Standalone MIGS Indication
8 © 2021 Glaukos Corporation iStent infinite: Powerful Standalone MIGS Indication Targeting FDA Approval Around Year-End Three wide-flange stents preloaded in injector system that facilitates placement across ~6 clock hours of Schlemm’s canal US IDE open-label, single-arm study in a standalone proce
Slide 9: iStent infinite: Significant IOP Reduction in Severe Patients
9 © 2021 Glaukos Corporation iStent infinite: Significant IOP Reduction in Severe Patients Targeting FDA Approval Around Year-End 76% of subjects achieved 20% or greater reduction in mean diurnal IOP from baseline on same or lower ocular hypotensive medication burden Highly favorable safety profile
Slide 10: iStent infinite: Viable Alternative to More Complex Procedures
10 © 2021 Glaukos Corporation iStent infinite: Viable Alternative to More Complex Procedures Three-stent injectable will offer new compelling treatment option in standalone procedure with highly favorable safety profile Clinical data suggest iStent infinite may help patients with open- angle glaucom
Slide 11: Santen PreserFlo MicroShunt
11 © 2021 Glaukos Corporation Santen PreserFlo MicroShunt An Alternative to Trabeculectomy & Tube Shunts 8.5 mm tube made of biocompatible material (SIBS); standalone, ab- externo procedure to filter fluid from anterior chamber to subconjunctival space Designed to treat late-stage, refractory glauco
Slide 12: Introducing iPRIME
12 © 2021 Glaukos Corporation Introducing iPRIME™ A New Viscodelivery System from Glaukos iPRIME is a minimally invasive viscoelastic delivery system that further supports the needs of physicians and patients This complementary technology further expands Glaukos’ broad portfolio of innovative ophtha
Slide 13: Sustained-Release Pharmaceuticals: The Next Stage in Glaucoma Therapy
13 © 2021 Glaukos Corporation Sustained-Release Pharmaceuticals The Next Stage in Glaucoma Therapy • Designed to provide longest duration intracameral pharmaceutical; secure and anchored design; facile implantation and exchange • Membrane designed to elute specially formulated travoprost, a commonly
Slide 14: iDose TR Phase 2 Data at 24 Months
14 © 2021 Glaukos Corporation Sustained-Release Pharmaceuticals: iDoseTR Alternative to Topical Medications, Addressing Non-Adherence & Other Drawbacks iDose TR is not approved by the FDA Average Reduction in IOP PHASE 2 CLINICAL DATA AT 24 MONTHS* 154-patient, multi-center, randomized, double-blind
Slide 15: iDose TR: Robust IOP-Lowering over 24 Months
15 © 2021 Glaukos Corporation Sustained-Release Pharmaceuticals: iDoseTR Alternative to Topical Medications, Addressing Non-Adherence & Other Drawbacks iDose patients experienced robust IOP-lowering over 24 months with continuous 24/7 compliance Over 24 months, iDose and timolol control groups progr
Slide 16: iDose TR: IOP Reduction from Baseline
16 © 2021 Glaukos Corporation Sustained-Release Pharmaceuticals: iDoseTR Alternative to Topical Medications, Addressing Non-Adherence & Other Drawbacks Average IOP % Reduction from Baseline PHASE 2 CLINICAL DATA AT 24 MONTHS* iDose TR is not approved by the FDA 5 10 15 20 25 30 35 30% 28% 29% I O P
Slide 17: iDose TR: Addressing Shortcomings of Existing Therapies
17 © 2021 Glaukos Corporation Sustained-Release Pharmaceuticals: iDoseTR Alternative to Topical Medications, Addressing Non-Adherence & Other Drawbacks Designed to address primary shortcomings of existing glaucoma topical and intracameral therapeutics Patients are generally poorly compliant with IOP
Slide 18: iDose Platform Next Generation: iDose TREX & iDose ROCK
18 © 2021 Glaukos Corporation iDose TR, iDose TREX and iDose ROCK are not approved by the FDA ® Sustained-Release Pharmaceuticals: iDose Platform Next Generation iDose TREX & iDose ROCK INTENDED DISEASE STATE Ocular Hypertension to Refractory OAG Substantial increase in drug payload, with potential
Slide 19: Corneal Health: 2021 Key Objectives
19 © 2021 Glaukos Corporation 2021 KEY OBJECTIVES Corneal Health Keratoconus Ocular Surface Disease Refractive Conditions PREPARE FOR EPI-ON NDA FILING IN 2022 BEGIN CLINICAL TRIALS FOR EPI- ON NEXT GEN GENERATE FIRST CLINICAL DRY EYE CANDIDATE Common symptoms include burning, itching, foreign body
Slide 20: Corneal Health Pharmaceutical Platform: iLink
20 © 2021 Glaukos Corporation Corneal Health Pharmaceutical Platform: iLink Epoxia (Epi-on) Photrexa (Epi-off) Single-application, bio-activated topical pharmaceutical solution Uses photo-activation to create bonds between corneal collagen fibers Excellent efficacy and safety profile, extensive clin
Slide 21: iLink Epi-on Phase 3 Trial Achieved Primary Efficacy Outcome
21 © 2021 Glaukos Corporation iLink Epi-on Phase 3 Clinical Trial Achieved Primary Efficacy Outcome Demonstrated Ability to Halt or Reduce Keratoconus Progression -1.0D Achieved primary efficacy outcome by demonstrating Kmax treatment effect of Well-tolerated procedure (majority of adverse events we
Slide 22: Eyelid Transdermal Platform for Dry Eye
22 © 2021 Glaukos Corporation Corneal Health Pharmaceutical Platform: Eyelid Transdermal Platform Topical Therapy for Treatment of Dry Eye & Other Ocular Disorders Proprietary cream-based formulation applied to outer skin surface of the upper eyelids Anatomy of the eyelid with targeted sites Intratu
Slide 23: Retinal Disease: 2021 Key Objective
23 © 2021 Glaukos Corporation 2021 KEY OBJECTIVE Retinal Disease Wet AMD DME RVO MOVE FIRST RETINAL DISEASE PROGRAM INTO CLINIC Retinal disease affects ~28M people in the US AMD and diabetic eye disease make up 89% of this patient population Progressive disease characterized by degeneration of the m
Slide 24: Retinal Disease Programs
24 © 2021 Glaukos Corporation Triamcinolone Acetonide SR RVO & DME Formulations developed to release triamcinolone acetonide for up to 6 months Microscope and SEM images of implants 1 Multi-Kinase Inhibitor SR Wet AMD, RVO & DME Developing a multi-kinase inhibitor small molecule sustained-release de
Slide 25: Product and Candidate Pipeline
25 © 2021 Glaukos Corporation PRODUCT/CANDIDATE PLATFORM / PRODUCT TYPE PATIENT STATUS Micro-Surgical Devices iStent Trabecular Bypass Stents Approved iStent inject / iStent inject W Trabecular Bypass Stents Approved iStent SA Trabecular Bypass Stents Pivotal IDE Trial iStent infinite Trabecular Byp
Slide 26: Delivering a Deep Pipeline of Disruptive Therapies
26 © 2021 Glaukos Corporation MARKET OPPORTUNITY 2015-2020 2021-22 2023-24 2025+ Delivering a Deep Pipeline of Disruptive Therapies Leveraging Multiple Proprietary Platforms to Serve Large Ophthalmic Markets iStent iStent inject iStent inject W iLink Epi-off PreserFlo iStent infinite iStent SA iDose
Slide 27: GAAP to Non-GAAP Reconciliation - 2Q 2021
27 © 2021 Glaukos Corporation Appendix Amort. of Stock-based Dev Tech Comp Exp on 2Q 2021 GAAP Intangibles Replacement 2Q 2021 Non-GAAP Gross Margin Awards Gross Margin Net Sales 78,093 $ 78,093 $ COGS 17,759 $ (5,523) $ (68) $ 12,168 $ Gross Profit 60,334 $ 5,523 $ 68 $ 65,925 $ Gross Margin 77% 84
Slide 28: 28 © 2021 Glaukos Corporation
28 © 2021 Glaukos Corporation