Slide 1: Delivering the Power of Sight
Delivering the Power of Sight Investor Presentation March 2022 ™
Slide 2: Forward Looking Statements
1 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
Slide 3: Our Mission
2 Transform Ophthalmology and Optometry through products that target the underlying causes of the world’s most prevalent eye diseases Establish new treatment paradigms and create an interventional mindset in Eyecare to replace conventional outdated approaches Our Mission
Slide 4: Our Product Development Process
3 Four fundamental requirements to deliver consistent, effective and safe outcomes for patients Our Product Development Process Comprehensive Understanding of Disease Physiology Analyze available clinical data, science and literature to achieve sound understanding of disease Address the Underlying C
Slide 5: Broad Portfolio of Products to Treat Glaucoma and Dry Eye Disease
4 Developing and Commercializing Broad Portfolio of Products to Treat Glaucoma and Dry Eye Disease Large, unmet market need Differentiated, innovative, intuitive design Robust clinical data Maximized patient access Comprehensive IP protection Demonstrated growth & strong financial profile
Slide 6: 5 Products Designed to Define Categories
Micro-invasive Glaucoma Surgery (MIGS) in POAG Launched in February 2018 Wearable eyelid treatment for adult patients with evaporative DED due to MGD3 Controlled release in April 2019 U.S. TAM1 of 2021 Revenue $6Bn 95% >85k OMNI® cases performed to date2 U.S. TAM1 of 2021 Revenue $10Bn 5% >15k TearC
Slide 7: Strategic Value Creation Initiatives
6 Strategic Value Creation Initiatives Expand Presence in Established Combination Cataract MIGS Segment in POAG Continue gaining adoption among existing base of >5,000 MIGS-trained surgeons Continue taking share by leveraging the ability of OMNI® to address all three points of potential resistance i
Slide 8: Primary Open-Angle Glaucoma (POAG)
Primary Open-Angle Glaucoma (POAG) ™
Slide 9: Primary Open-Angle Glaucoma: A Large, Growing Market
Glaucoma is world’s leading cause of irreversible blindness POAG is the most prevalent form of glaucoma No cure and progressive Steadily growing patient base Improving diagnostics Aging populations Demographic shifts Growth of comorbidities such as diabetes, heart disease and high blood pressure In
Slide 10: Current Global POAG Treatment Market
8 Current Global POAG Treatment Market Rx medications currently have the supermajority of treatment share (estimated >80%) Conventional surgery has been a last line therapy MIGS are transforming POAG treatment, but still well underpenetrated (estimated <10%) Fastest growing treatment segment (25%-37
Slide 11: U.S. MIGS Total Addressable Market
9 U.S. MIGS Total Addressable Market 4.2 million people U.S. population with POAG and PEX (pseudoexfoliation glaucoma) 3.5 million people U.S. population diagnosed with POAG and PEX 3.4 million people U.S. population diagnosed with POAG 6.2 million eyes with POAG in the U.S. ~$6 billion U.S. TAM for
Slide 12: POAG Treatment Paradigm
POAG Treatment Paradigm PRESCRIPTION MEDICATIONS OMNI® is designed to expand MIGS reach and impact and enable a new interventional treatment paradigm STANDALONE (>85%1 of POAG) COMBINATION CATARACT (<15%1) CONVENTIONAL TREATMENTS TRABECULAR BYPASS STENTS LASER TRABECULOPLASTY CONVENTIONAL SURGERY MI
Slide 13: Standalone = Extending MIGS to All POAG
Combination Cataract (<15% of POAG eyes) Concurrent MIGS and cataract procedure Benefits from inherent IOP-lowering effect of cataract surgery First-mover trabecular bypass stents are only authorized for use in Combination Cataract cases Has skewed MIGS towards this segment Standalone (>85% of POAG
Slide 14: OMNI Addresses the 3 Primary Points of Resistance
12 We believe (i) there is NO diagnostic to determine where the resistance is in the conventional outflow pathway and (ii) OMNI® is singularly well-suited to address all 3 primary points of resistance OMNI® Addresses the 3 Primary Points of Resistance TRABECULAR MESHWORK SCHLEMM’S CANAL COLLECTOR CH
Slide 15: OMNI: Cleared for Use in a Revolutionary MIGS Procedure
13 OMNI®: Cleared for Use in a Revolutionary MIGS Procedure in All Adult Patients with POAG OMNI enables two sequential, ab interno MIGS procedures in adults with POAG – intuitive, minimally invasive, performed through a single clear corneal microincision, and each titratable up to 360° Trabeculotom
Slide 16: OMNI is Titratable to All MIGS Categories in POAG
14 OMNI® is Titratable to All 6 MIGS Categories in POAG Low Risk of Hyphema Consistency of Efficacy Degree of Efficacy Represents estimated % of U.S. POAG TAM The FDA granted an investigational device exemption authorizing our PRECISION RCT to assess the safety and effectiveness of a canaloplasty al
Slide 17: FDA-Cleared IFU of OMNI Supports Strong Market Positioning
15 FDA-Cleared IFU of OMNI® Supports Strong Market Positioning March 2021 Indication for Use “For canaloplasty (microcatheterization and transluminal viscodilation of Schlemm's canal) followed by trabeculotomy (cutting of trabecular meshwork) to reduce intraocular pressure (IOP) in adult patients wi
Slide 18: Unique go-to-market strategy to serve entire MIGS Market
Unique go-to-market strategy to serve entire >$6B MIGS Market Commercial team structured to unlock Standalone segment Surgical Sales Representatives: territory-based account coverage in U.S./OUS Strategic Account Managers: teaching institutions, government Glaucoma Clinical Consultants (expanded tea
Slide 19: Consistent IOP Reduction in Real-World Settings
17 ROMEO data (published) and single surgeon data sets report consistent IOP reduction in real-world settings Pooled data from 4 studies in 5 peer-reviewed publications Observed lower IOP in 98 of 103 patients (95%) Observed ≥20% decrease in IOP in 77 of 103 patients (75%) For all eyes where preoper
Slide 20: OMNI Clinical Studies and Program
12-month multi-center retrospective real world study Elevated baseline IOP group: significant reduction in IOP and medications Controlled baseline IOP group: IOP controlled, significant reduction in medications Compelling and consistent data supported broad FDA cleared indication Includes three RCTs
Slide 21: Recent and Upcoming OMNI Clinical Milestones
19 Recent and Upcoming OMNI® Clinical Milestones 16 presentations planned for Ophthalmic Congresses in 2022; Active investigator initiated trial (IIT) program 2021 Q3 TREY: study initiated GEMINI 2.0: study initiated ORION 2.0: study initiated GEMINI: diurnal IOP published in Clinical Ophthalmology
Slide 22: OMNI Clinical Timeline
20 OMNI® Clinical Timeline Note: Clinical trials, including their design, endpoints and timing, are subject to change at the Company’s discretion. Initial results may include preliminary data and interim analyses that are subject to change.
Slide 23: CMS Final Payment Rules 2022 vs. 2021
21 CMS Final Payment Rules 2022 vs. 2021 Reimbursement for Combination Cataract Canaloplasty Procedures will be more competitive in 2022 Professional fees for Canaloplasty and Canal Implant Combination Cataract were reduced Canaloplasty maintains $350 advantage over Canal Implants in Combination Cat
Slide 24: Overview of Canal Surgery Procedures
INTRODUCED 2022 Estimated Procedure History ~16 YEARS ~90 YEARS Estimated Number of Published Articles 200 0 1,000 0 CANALOPLASTY AB INTERNO TRABECULOTOMY / GONIOTOMY AB INTERNO VISCOCANALOSTOMY MICROGONIOTOMY List of Publications (available upon request) INTRODUCED 2022 22 Overview of Canal Surgery
Slide 25: OMNI Unlocks $6BN U.S. Opportunity for Standalone MIGS
23 OMNI® Unlocks $6BN U.S. Opportunity for Standalone MIGS in POAG Addresses all three points of resistance in the conventional outflow pathway Substantial and growing body of clinical evidence (favorable results w/ and w/o cataract surgery across multiple clinical trials) Cataract and severity agno
Slide 26: Dry Eye Disease
DRY EYE DISEASE ww Tearc abe
Slide 27: New TearCare IFU Cleared by FDA December 2021
24 New TearCare® IFU Cleared by FDA December 2021 December 2021 Indication for Use “For the application of localized heat therapy in adult patients with evaporative DED due to MGD, when used in conjunction with manual expression of the meibomian glands” Considerable benefits from expanded indication
Slide 28: Dry Eye Disease and Meibomian Gland Dysfunction
25 Dry Eye Disease and Meibomian Gland Dysfunction MEIBOMIAN GLANDS Dry Eye Disease (DED) can be extremely painful and can lead to permanent cornea damage and vision impairment MGD is present in the vast majority of diagnosed dry eye cases Clogged glands prevent meibum, an oily secretion that protec
Slide 29: MGD Market Opportunity
26 MGD Market Opportunity $10B potential U.S. evaporative DED / MGD market is vastly underserved 2019 U.S. treatment spend was ~$2 billion with <$100 million for DED procedures Substantial current treatment limitations Historically, limited focus on MGD Aqueous deficiency and inflammation were synon
Slide 30: Our Solution: TearCare
27 Our Solution: TearCare® The Only Open-Eye Heat + Expression device designed to melt + remove meibomian gland obstructions Intelligent Therapeutic Heat Expanded Indication for Use Intuitive Design In patients with MGD, meibum hardens within the meibomian glands and forms obstructions TearCare deli
Slide 31: Support Patient Access Strategy with Expanded Label and RCT Clinical Data
28 Support Patient Access Strategy with Expanded Label and RCT Clinical Data vs. Rx Clinical and real-world data intended to support coverage, coding and payment Payor research: conducted eight 1:1s with medical directors from national and regional payors for feedback on our clinical programs (e.g.,
Slide 32: TearCare Clinical Program Summary
29 TearCare® Clinical Program Summary OLYMPIA RCT (Completed) Head-to-head versus MGD device (LipiFlow®) Objective: To study effectiveness and safety of the TearCare System compared to LipiFlow in reducing the signs and symptoms of DED Prospective multi‐center (10 sites), randomized controlled, mask
Slide 33: TearCare Clinical Milestones & Timeline
30 TearCare® Clinical Milestones & Timeline Note: Clinical trials, including their design, endpoints and timing, are subject to change at the Company’s discretion. Initial results may include preliminary data and interim analyses that are subject to change. 2021 1H SAHARA: first patient, first visit
Slide 34: TearCare Controlled Release
31 TearCare® Controlled Release - Executing a controlled release of TearCare with ~10 direct outside sales reps since April 2019 (expanded to ~15 in late Q4 2021) - Successful patient-pay adoption Over 550 facilities added (through 12/31/21) Sizable base of steady reordering accounts Messaging focus
Slide 35: New Product Overview
Delivering the Power of Sight NEw PRODUCT OVERVIEW
Slide 36: Leverage Sight's Proven Development Expertise and Commercial Infrastructure
Our product development initiatives further leverage: An unparalleled clinical understanding of the underlying causes of glaucoma & dry eye A differentiated and efficient development process Ongoing and substantial investment in specialized Sales, Marketing, Clinical and Market Access resources that
Slide 37: Lead the Glaucoma and Dry Eye Disease Categories
Lead the Glaucoma and Dry Eye Disease Categories Portfolio will treat all severities of disease, ranging from mild to advanced Product suite will address the full continuum of care in tomorrow’s treatment paradigm + Portfolio will offer each of OTC, Sustained Rx, and Devices/Procedures Ability to tr
Slide 38: Comprehensive Portfolio of Six Glaucoma Products
Offer a Comprehensive Portfolio of Six Products GLAUCOMA PRODUCT DEVELOPMENT OVERVIEW 4. FDA-cleared canaloplasty followed by trabeculotomy 5. Canaloplasty alone IDE trial underway MILD TO MODERATE DISEASE In-office Injection of Sustained Release Pharmaceutical (Rx) 1 MILD TO MODERATE DISEASE OR Per
Slide 39: Comprehensive Portfolio of Four Dry Eye Products
Over-the-counter Artificial Tear With A Differentiated Lipid Layer Technology Dry Eye Disease Prescription Pharmaceutical Eyelid Ointment Office-Based Eyelid Procedure Home-Based Eyelid Device Treatment 1 2 4 Offer a Comprehensive Portfolio of Four Products DRY EYE DISEASE PRODUCT DEVELOPMENT OVERVI
Slide 40: Financial Overview
Delivering the Power of Sight FINANCIAL OVERVIEW
Slide 41: 4Q21 & FY21 Highlights
4Q21 & FY21 Highlights 4Q revenue $14.7M Surgical Glaucoma $13.9M Dry Eye $0.8M FY21 revenue $49.0M Surgical Glaucoma $46.5M Dry Eye $2.5M 4Q sequential revenue growth Surgical Glaucoma: 12% Dry Eye: 16% Total: 12% Completed IPO in July, raised $252.2M of net proceeds Over $260M of cash on hand at 1