Glaukos Corporation · NYSE:GKOS
Glaukos — Investor Presentation (January 2021)
27 slides from Glaukos's investor presentation, Jan 13, 2021
Slide 1: Glaukos Corporation January 2021
1 © 2021 Glaukos Corporation January 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
Slide 3: Building a World-Class Global Infrastructure & Company
3 © 2021 Glaukos Corporation 1 FY2014 GAAP & non - GAAP gross margin; Q3 2020 GAAP gross margin of 72% was adjusted for certain Avedro merger - related accounting adjustments - see Appendix for details; 2 2015 as of 6/30/2015 (post - IPO); 2020 as of 9/30/2020; Includes cash, short - term investment
Slide 4: 2020: Major Accomplishments that Advanced our Growth Strategy
4 © 2021 Glaukos Corporation 2020: Major Accomplishments that Advanced our Growth Strategy ESTABLISHED CORNEAL HEALTH FRANCHISE SUCCESSFUL LAUNCH OF ISTENT INJECT W SWIFT & EFFECTIVE COVID RESPONSE STRENGTHENED BALANCE SHEET COMPLETED GLOBAL SYSTEMS TRANFORMATION INTERNATIONAL SALES GROWTH & APPROVA
Slide 5: Our Strategy for Long-Term Growth & Profitability: Creating a Unique Vision Care Leader
5 © 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 R
Slide 6: Serving the Clinical Needs of Large Patient Populations
6 © 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 port fol io availability to physician, exc
Slide 7: Key 2021 Glaucoma Catalysts
7 © 2021 Glaukos Corporation Ocular Hypertension to Refractory Disease Glaucoma Focus of Today’s Presentation Key 2021 Glaucoma Catalysts SUBMIT ISTENT INFINTE PMA - S TO FDA COMPLETE IDOSE TR PHASE 3 TRIAL R&D PROGRESS ON IDOSE TREX & IDOSE ROCK LAUNCH PRESERFLO & CONTINUE IPRIME DEVELOPMENT
Slide 8: iStent infinite: Powerful Standalone MIGS Indication
8 © 2021 Glaukos Corporation iStent infinite: Powerful Standalone MIGS Indication FDA Submission Set for 1H 2021; Targeting Late 2021 Approval 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
Slide 9: iStent infinite: Significant IOP Reduction in Severe Patients
9 © 2021 Glaukos Corporation iStent infinite: Significant IOP Reduction in Severe Patients FDA Submission Set for 1H 2021; Targeting Late 2021 Approval 76% of subjects achieved 20% or greater reduction in mean diurnal IOP from baseline on same or lower ocular hypotensive medication burden Highly fav
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 glau
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 gla
Slide 12: Introducing iPRIME A New Viscodelivery System from Glaukos
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: Glaucoma Micro-Surgical Portfolio
13 © 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 Schlem
Slide 14: Sustained-Release Pharmaceuticals: The Next Stage in Glaucoma Therapy
14 © 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 common
Slide 15: iDose TR Phase 2 Data at 24 Months: Average IOP
15 © 2021 Glaukos Corporation Sustained - Release Pharmaceuticals: iDose TR 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, dou
Slide 16: iDose TR: Robust IOP Lowering Over 24 Months
16 © 2021 Glaukos Corporation Sustained - Release Pharmaceuticals: iDose TR 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 group
Slide 17: iDose TR: IOP Reduction from Baseline
17 © 2021 Glaukos Corporation Sustained - Release Pharmaceuticals: iDose TR 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
Slide 18: iDose TR: Addressing Non-Adherence & Other Drawbacks
18 © 2021 Glaukos Corporation Sustained - Release Pharmaceuticals: iDose TR 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 wit
Slide 19: iDose Platform: Next Generation iDose TREX & iDose ROCK
19 © 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 potentia
Slide 20: Creating a Vision Care Leader
20 © 2021 Glaukos Corporation Creating a Vision Care Leader
Slide 21: 2021: Key Catalysts to Drive the Business Forward
21 © 2021 Glaukos Corporation Ocular Hypertension to Refractory Disease Glaucoma Corneal Health Keratoconus Ocular Surface Disease Refractive Conditions Retinal Disease Wet AMD DME RVO SUBMIT ISTENT INFINTE PMA - S TO FDA LAUNCH PRESERFLO & CONTINUE IPRIME DEVELOPMENT COMPLETE IDOSE TR PHASE 3 TRIAL
Slide 22: Corneal Health Platforms
22 © 2021 Glaukos Corporation Corneal Health Platforms Epi - on (Epioxa) Photrexa (Epi - off) Single - application, bio - activated topical pharmaceutical solution shown to halt keratoconus progression Uses photo - activation to create bonds between corneal collagen fibers Epi - on Next - Gen Second
Slide 23: Retinal Disease Programs
23 © 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 - rele
Slide 24: Product/Candidate Pipeline
24 © 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 B
Slide 25: Delivering a Deep Pipeline of Disruptive Therapies
25 © 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 Dry Eye
Slide 26: 26 © 2021 Glaukos Corporation
26 © 2021 Glaukos Corporation
Slide 27: GAAP to Non-GAAP Reconciliation - 3Q 2020
27 © 2021 Glaukos Corporation Appendix Rollout of Amort. Of Stock-based Reversal of Inventory Dev Tech comp exp on restructuring Fair Value Adj Intangibles replacement expenses 3Q 2020 GAAP net of COVID awards 3Q 2020 Non-GAAP Gross Margin E&O reversal Gross Margin Net Sales 64,831$ 64,831$ COGS 17,