Slide 1: Investor Presentation August 2023
Investor Presentation August 2023
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. These statements are based on management’s current e
Slide 3: We'll Go First
WE’LL GO FIRST Innovation is at the core of everything we do. At Glaukos, we push the limits of science and technology to solve unmet needs in chronic eye diseases. © 2023 Glaukos Corporation 3
Slide 4: Our Core Strategy
Our Core Strategy 1. BIG IDEAS 2. SIGNIFICANT CLINICAL NEED 3. SPECIALIZED R&D TEAMS 4. EXPERIENCED SALES ORGANIZATION 5. PROVEN MARKET BUILDER 6. EFFICIENT GLOBAL OPERATIONS Designed to drive long-term growth and value creation © 2023 Glaukos Corporation 4
Slide 5: Our Big Ideas: dropless innovation platforms
invested in R&D since 2018 5 distinct platforms generating disruptive, dropless innovations across 3 franchises $400M 14 Disclosed pipeline programs in 2023 vs. 4 in 2015 invested in R&D since 2018 OUR BIG IDEAS Develop novel dropless therapies to disrupt legacy topical eye drop therapies plagued by
Slide 6: Glaucoma: topical medication non-adherence
GLAUCOMA Topical medications are the dominant treatment plan for the roughly 18M US eyes1 affected by glaucoma and ocular hypertension Research2 shows that >90 % & 50 ~ % of patients are non-compliant with topical medication use purposely discontinue their medication within 6 months High rates of no
Slide 7: Interventional Glaucoma
INTERVENTIONAL GLAUCOMA Proactive glaucoma management via predictive diagnostics, active patient monitoring and procedural intervention earlier in the treatment paradigm to: • Improve patient management • Preserve visual function • Slow disease progression • Reduce or eliminate the need for topical
Slide 8: Interventional Glaucoma comprehensive portfolio
INTERVENTIONAL GLAUCOMA Trabecular Bypass Sustained-Release Viscodelivery Goniotomy Subconjunctival With the only comprehensive glaucoma portfolio Glaukos is uniquely positioned to address this important unmet need and lead development of the Interventional Glaucoma opportunity C o m b o - C a t a r
Slide 9: 12-Month Clinical Trial Results (iStent infinite)
12-MONTH CLINICAL TRIAL RESULTS5 76 ≥ % of subjects achieved 20% or greater reduction in mean IOP on same or lower medication burden 50% of subjects achieved 30% or greater reduction in mean IOP First-ever micro-invasive implantable device for standalone glaucoma treatment • Three micro-stents desig
Slide 10: iDose TR minimally-invasive travoprost implant
Designed to address ubiquitous patient non-adherence to and chronic side effects associated with topical medications by providing 24/7, long-duration therapy The next major addition to the Interventional Glaucoma arsenal • Designed to provide long-duration intracameral pharmaceutical; secure and anc
Slide 11: iDose TR Phase 3 pivotal trial efficacy
In 2 pivotal trials, iDose TR fast- and slow-release doses achieved pre-specified primary efficacy endpoints as agreed upon with US FDA (non-inferiority to topical timolol through 3 months) IOP Reductions from Baseline (mmHg) 8.5 6.6 7.7 6.5 6.7 8.4 6.8 7.2 Slow-release iDose TR Timolol 0.5% BID IOP
Slide 12: Real-world effectiveness data for iDose TR
First-of-its-kind real-world effectiveness data further validates the game-changing potential of iDose TR IOP (mmHg) 10 12 14 16 18 20 22 24 Pre-Study PGA After Washout (Remove pre-study PGA) iDose Month 3 18.0 mmHg 16.7 mmHg 23.8 mmHg IOP VALUES ON PRE-STUDY PGAs, AFTER PGA WASHOUT, AND AFTER 3 MON
Slide 13: Phase 3 and Phase 2b duration data for iDose TR
Phase 3 and Phase 2b duration data for iDose TR iDose TR: The data that matters to doctors, patients and payors AT 12 MONTHS AT 24 MONTHS AT 36 MONTHS PH 3 93% Percentage of slow-release iDose TR subjects well-controlled on the same or fewer IOP-lowering topical PH 2B 92% 72% 69% medications of slow
Slide 14: Phase 2b: iDose TR vs eye drops at 3 years
GC-009 Slow-release iDose TR Timolol 0.5% BID % PATIENTS WELL CONTROLLED ON THE SAME OR FEWER TOPICAL IOP-LOWERING Phase 2b: iDose MEDS IN PHASE 2B TRIAL AT 3 YEARS TR arm controls IOP in more patients vs eyedrop arm at 3 years 69% 45% 2,190 eye drops administered per eye per 3-yr protocol in Phase
Slide 15: Phase 3 and Phase 2b safety data for iDose TR
Phase 3 and Phase 2b safety data for iDose TR iDose TR: The data that matters to doctors, patients and payors iDose TR Topical PGAs Ph 3 Trials 1 Year Ph 2b Trial 3 Years No adverse events of periorbital fat atrophy Up to 70% incidence Very low or no conjunctival hyperemia 30%-50% incidence No adver
Slide 16: iDose TR exchange trial
• Prospective, multi-center trial to evaluate safety of exchange procedure • Study enrolled 33 subjects previously implanted in iDose TR Phase 2b study • Subject’s study eye underwent surgical exchange with slow-release iDose TR model, with 12-month follow-up • Average overall extended evaluation pe
Slide 17: iDose TR addresses patient non-compliance
iDose TR has potential to address rampant problem of patient non-compliance with topical glaucoma medications iDose TR is not approved by the FDA As part of the Phase 3 trials, in-office administration of iDose TR was employed with various subjects across multiple sites with outcomes that were consi
Slide 18: Interventional Glaucoma Portfolio
PRODUCT PATIENT STATUS COMBO- CATARACT iStent / iStent inject / iStent inject W Mild-to-Moderate Glaucoma with Cataract Approved (2012 / 2018 / 2020) STANDALONE iStent infinite Glaucoma (failed on prior medical and surgical therapy) FDA cleared iStent infinite Glaucoma (label expansion) IDE open Pre
Slide 19: iLink Platform: keratoconus
iLINK PLATFORM Bio-activated corneal cross-linking therapy for keratoconus, a sight-threatening, life-altering disease with typical onset in adolescence First and only FDA-approved bio-activated pharmaceutical therapy shown to slow or halt progression of keratoconus. Without effective treatment, 1 i
Slide 20: Epi-on Phase 3 results
-1.0D Achieved primary efficacy outcome by demonstrating Kmax treatment effect of Well-tolerated procedure (majority of adverse events were mild and transient in nature; no change in corneal endothelial cell counts over course of trial) determined as prospectively defined least square mean Kmax chan
Slide 21: iLution Platform
iLUTION PLATFORM Transdermal dropless therapy with the potential to treat a variety of chronic eye diseases and disorders PRODUCT/ PROGRAM PATIENT STATUS iLution Dry Eye Dry Eye Phase 2 iLution Presbyopia Presbyopia Phase 2 iLution Blepharitis Demodex Blepharitis Pre-clinical iLution Travoprost OHT
Slide 22: iLution Dry Eye Phase 2a trial results
-8.5 -8.2 Trial demonstrated favorable safety and tolerability • 98% of patients completed the trial • No ocular adverse events occurring at incidence of 5% or greater Improvement in the quality of tear film (tear break-up time sign) with corresponding improvement in quality of vision (reduction in
Slide 23: Retina XR Platform
RETINA XR PLATFORM Addressing the significant drawbacks of conventional therapies for retinal diseases PRODUCT/ PROGRAM PATIENT STATUS IVT Multi-Kinase Inhibitor AMD, DME, RVO Pre-clinical IVT Triamcinolone DME Pre-clinical DISCLOSED PIPELINE PROGRAMS Targeting biodegradable, small-molecule implant
Slide 24: Retina XR preclinical data
-8.5 -8.2 Retina XR: Data supports expedited first-time-in-human trial in 2023 20+ months of vascular leakage prevention in rabbit model of AMD IVT multi-kinase inhibitor continues to demonstrate robust and durable effect in vivo 0 5 10 15 20 25 30 35 40 0 100 200 300 400 500 600 700 Vascular Leakag
Slide 25: Attractive financial profile provides solid foundation
Attractive financial profile provides solid foundation NET SALES (in millions) 2015 2022 $72 $283 MARGINS 75% 82% 2014 GROSS MARGIN1 2023 $310 2015 $104 2023 CASH AND EQUIVALENTS2 (in millions) 20%+ 7YR CAGR SALES MIX © 2023 Glaukos Corporation 25 1 FY2014 GAAP and non-GAAP gross margin (75%); 2023
Slide 26: Efficient, scalable global platform supports growth
Efficient, scalable global platform supports growth 2015 2023 65 275+ GLOBAL COMMERCIAL PERSONNEL COUNTRIES WITH DIRECT SALES 2014 2 2023 17 Complemented by distributor and hybrid models in 35 additional countries NEW STATE-OF-THE-ART HYBRID PHARMACEUTICAL MANUFACTURING FACILITY © 2023 Glaukos Corpo
Slide 27: Our Current Portfolio
MARGINS OUR CURRENT PORTFOLIO Disrupting treatment paradigms with dropless therapies that address important needs 14 disclosed pipeline programs across 5 distinct platforms © 2023 Glaukos Corporation 27 PRODUCT PATIENT GLAUCOMA iStent / iStent inject / iStent inject W Mild-to-Moderate Glaucoma with
Slide 28: Our Future Portfolio
MARGINS PRODUCT PATIENT GLAUCOMA iStent / iStent inject / iStent inject W Mild-to-Moderate Glaucoma with Cataract iStent infinite Glaucoma Standalone (failed on prior therapy) iStent infinite Glaucoma Standalone (label expansion) PreserFlo Advanced-Refractory Glaucoma Standalone iDose TR OHT-Glaucom
Slide 29: Glaukos: Transforming Vision
GLAUKOS TRANSFORMING VISION
Slide 30: Appendix: GAAP to Non-GAAP Reconciliation 2Q 2023
Appendix © 2023 Glaukos Corporation 30 2Q 2023 GAAP Amort. of Dev 2Q 2023 Non-GAAP Gross Margin Tech Intangibles Gross Margin Net Sales $ 80,399 $ 80,399 COGS $ 20,103 $ (5,523) $ 14,580 Gross Profit $ 60,296 $ 5,523 $ 65,819 Gross Margin 75% 82% GAAP to Non-GAAP Reconciliation - 2Q 2023
Slide 31: References
References 1 Based on company analysis of Market Scope, Medicare Claims and IMS Health Compliance data 2 Nordstrom BL, Friedman DS, Mozaffari E, Quigley H, Walker AM. Persistence and adherence with topical glaucoma therapy. Am J Ophthalmol. 2005;140(4): 598-606 3 Malihi M, Moura, Filho ER, Hodge DO,