Glaukos Corporation · NYSE:GKOS
Glaukos — Investor Presentation (November 2017)
26 slides from Glaukos's investor presentation, Nov 9, 2017
Slide 1: November 2017
November 2017 1 © 2017 Glaukos Corporation 1
Slide 2: Disclaimer
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. Although we believe that we have a reasonable basis
Slide 3: Glaukos is Transforming Glaucoma Therapy
Glaukos is Transforming GlaucomaTherapy OUR MISSION 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. OUR STRATEGY Grow US adoption of our proprietary
Slide 4: Key Numbers
Key Numbers $5b >$5 billion global glaucoma market served 8.2m 8.2 million est. US OHT/POAG diagnosed & treated eyes 300k 300,000+ iStents implanted globally 15 15 countries with direct Glaukos sales operations 4 4 new Glaukos products being 200 200+ issued, licensed or pending Glaukos patents evalu
Slide 5: Demonstrated Financial Performance
Demonstrated Financial Performance Total Net (in millions) Sales 86% Gross Margin* $45 $40 $35 $30 $25 $20 $109M Cash & Short-Term Equivalents* $15 $10 $5 $0 * As of 9/30/2017 5 © 2017 Glaukos Corporation Q1Q2Q3Q4 2013201320132013 Q1Q2Q3Q4 2014201420142014 Q1Q2Q3Q4 2015201520152015 Q1Q2Q3Q4 20162016
Slide 6: Open-Angle Glaucoma
Open-Angle Glaucoma Disease is chronic, progressive, irreversible and largely asymptomatic Typically associated with elevated intraocular pressure (IOP) Elevated IOP causes optic nerve damage and leads to vision loss N O R M A L V I S I O N Reducing treatment IOP is only proven W I T H G L A U C O M
Slide 7: Current OAG Treatment Algorithm
Current OAG Treatment Algorithm Ocular Hypertension IOP of 21-30 mm Hg IOP is measured in millimeters of mercury (mm Hg). Normal IOP in healthy eyes ranges from 10-21 mm Hg. 1 Target IOP 20% ↓ from baseline; ≤ 18 mm Hg Treatment 0-1 med Open-Angle Glaucoma Progression Refractory OAG Uncontrolled IOP
Slide 8: Portfolio of Micro-Scale Injectable Therapy
Portfolio of Micro-Scale Injectable Therapy OCULAR HYPERTENSION Injectable drug delivery implant; sustained drug therapy for extended periods REFRACTORY Envision use alone or in combination with other MIGS devices OAG Progression MILD OCULAR HYPERTENSION ADVANCED MODERATE MILD MODERATE ADVANCED REFR
Slide 9: Portfolio of Micro-Scale Injectable Therapy: Estimated US Commercialization
Portfolio of Micro-Scale Injectable Therapy: Estimated US Commercialization OCULAR HYPERTENSION 2022-23 REFRACTORY OAG Progression MILD OCULAR HYPERTENSION ADVANCED MODERATE MILD MODERATE ADVANCED REFRACTORY Addressing full range of glaucoma disease states and progression 2020-21 2020-21 2H 2018 201
Slide 10: iDose Travoprost: First-of-a-Kind Intraocular Drug Delivery Device
iDose Travoprost: First-of-a-Kind Intraocular Drug Delivery Device Retaining Cap OCULAR HYPERTENSION Elution Membrane REFRACTORY Drug Reservoir OAG Progression MILD Titanium implant (1.8 mm x 0.5 mm) designed for continuous drug delivery directly into anterior chamber ADVANCED MODERATE Scleral Ancho
Slide 11: iDose Travoprost US Phase II: Preliminary Efficacy Results
iDose Travoprost US Phase II: Preliminary Efficacy Results Average IOP Reductions through Month 9* Average IOP reductions through 9 months post-op 10.0 9.0 8.0 7.0 6.0 5.0 4.0 3.0 2.0 1.0 0.0 9.5 8.7 8.5 8.4 8.3 8.2 8.0 8.0 ranging from mmHg in the arms 7.9 to 9.5 implant 7.9 7.6 7.6 7.5 32% 31% Rep
Slide 12: iDose Travoprost Procedure
iDose Travoprost Procedure iDose is not approved by the FDA. s· GLAUK! 13 © 2017 Glaukos Corporation
Slide 13: iDose Travoprost Exchange (Removal) Procedure
iDose Travoprost Exchange (Removal) Procedure iDose is not approved by the FDA. s· GLAUK! 14 © 2017 Glaukos Corporation
Slide 14: Combination-Cataract Therapy for Mild to Moderate OAG
Combination-Cataract Therapy for Mild to Moderate OAG OCULAR HYPERTENSION REFRACTORY 4 mm implant, curved to follow ocular anatomy FDA approved in 2012; flagship MIGS device Two heparin-coated titanium trabecular bypass stents preloaded into auto injection system OAG Progression MILD Lumen sized for
Slide 15: Real-World Clinical Experience of Single Stent with Cataract Surgery
Real-World Clinical Experience of Single Stent with Cataract Surgery medication free 19.4 20 16 Preop Year 1 Year 2 Year 3 Year 4 Year 5 Final Consistent cohort of 107 OAG eyes followed through 2 years achieved mean IOP reduction of 22% and 56% reduction in mean medications Ferguson J Berdahl J Clin
Slide 16: Clinical Performance of iStents with Cataract Surgery
Clinical Performance of 2 iStents with Cataract Surgery All subjects had IOP not well controlled on medication or well controlled with substantial (≥ 3) medication burden Stent implantation conducted in conjunction with cataract surgery Mean IOP declined 20% to 13.8 mm Hg at 12 months Mean number of
Slide 17: Facile, Click-and-Release 2-Stent Procedure
Facile, Click-and-Release 2-Stent Procedure iStent SA is not approved by the FDA. s· GLAUK! 18 © 2017 Glaukos Corporation
Slide 18: Standalone 2-Stent Therapy for Mild to Moderate OAG
Standalone 2-Stent Therapy for Mild to Moderate OAG OCULAR HYPERTENSION REFRACTORY OAG Progression MILD 2 Standalone Stents Two heparin-coated titanium stents, preloaded into auto injection system ADVANCED MODERATE Tapered insertion sleeve yields smooth insertion during closed-chamber procedure Abil
Slide 19: MIGS Solution for Advanced and Refractory OAG
MIGS Solution for Advanced and Refractory OAG OCULAR HYPERTENSION REFRACTORY Titratable Stent Therapy OAG Progression MILD Three heparin-coated trabecular bypass stents, identical to iStent SA ADVANCED MODERATE Enhanced insertion system provides unlimited activations and smooth implantation of each
Slide 20: MIGS Solution for Advanced and Refractory OAG
MIGS Solution for Advanced and Refractory OAG iStent infinite is not approved by the FDA. 21 © 2017 Glaukos Corporation
Slide 21: Competitive Surgical Landscape
Competitive Surgical Landscape Mild to Moderate Alcon CyPass • 6.35 mm polyimide shunt implanted ab interno into suprachoroidal space • Approved by FDA in 2016 for combo-cataract procedures Refractory Allergan XEN 6 mm collagen shunt implanted ab interno into subconjunctival space Creates bleb; requ
Slide 22: Platform Development
P L AT F O R M D E V E L O P M E N T Delivering Novel Surgical & Pharmaceutical Glaucoma Therapy 23 © 2017 Glaukos Corporation
Slide 23: Platform Pillars of Hybrid Pharma/Device Leader
Platform Pillars of Hybrid Pharma/Device Leader Restoring natural, physiological outflow Portfolio of micro-scale flow devices for full range of glaucoma severity and progression IOP diagnostics and management Goal to provide micro-scale in vivo MEMS Biosensors tools for monitoring IOP and managing
Slide 24: Expanding Our Annual Market Opportunity
Expanding Our Annual Market Opportunity 7x+ US Annual (eyes) Opportunity* OHT/POAG prevalence: ~18M eyes 8.2M eyes diagnosed and treated Growing 3.5% annually 33% of standalone OHT/POAG population is pseudophakic ~ 4.3M Combination therapy more opportunity for Glaukos portfolio drives ~ 0.6M Total g
Slide 25: Glaukos: Key Takeaways
Glaukos: Key Takeaways Delivering novel surgical and pharmaceutical glaucoma therapy • Validating the narrative of sustained glaucoma drug delivery Extending leadership in MIGS treatment class with industry’s most comprehensive surgical offering Solid cadence of new, market-expanding product introdu
Slide 26: 27 © 2017 Glaukos Corporation 2
27 © 2017 Glaukos Corporation 2