Glaukos Corporation · NYSE:GKOS
Glaukos — Investor Presentation (March 2018)
29 slides from Glaukos's investor presentation, Mar 1, 2018
Slide 1: March 2018
March 2018 1 © 2018 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 Glaucoma Therapy OUR MISSION To pioneer and lead the global glaucoma market micro-scale injectable therapies that advance the with standard-of-care and enrich the lives and treatment alternatives for glaucoma patients worldwide. 3 © 2018 Glaukos Corporation
Slide 4: Major 2017 Accomplishments
Major 2017 Accomplishments Successful ASC price increase implemented Driving MIGS towards the global standard iStent-trained surgeon Category III CPT code Key patent extensions patent estate base growth of ~25% extension through 2023 and new issuances in 200+ of care … 74 peer-reviewed iSt
Slide 5: Major 2017 Accomplishments
Major 2017 Accomplishments Submitted iStent inject® US PMA application Reported favorable Phase II trial data on iDoseTM Travoprost … while advancing a transformational future Completed pivotal trial Completed trial iStent SA US IDE initial trial; finalized protocol, including 1-year efficacy
Slide 6: Demonstrated Financial Performance
Demonstrated Financial Performance Total Net (in millions) Sales 87% 2017 Gross Margin $45 $40 $35 $30 $25 $20 $119M Cash & Short-Term Equivalents* $15 $10 $5 $0 * As of 12/31/2017 6 © 2018 Glaukos Corporation Q1Q2Q3Q4 2013201320132013 Q1Q2Q3Q4 2014201420142014 Q1Q2Q3Q4 2015201520152015 Q1Q2Q3Q4 201
Slide 7: MIGS and Beyond: Delivering Novel Surgical & Pharmaceutical Glaucoma Therapy
M I G S A N D B E Y O N D Delivering Novel Surgical & Pharmaceutical Glaucoma Therapy 7 © 2018 Glaukos Corporation
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: Estimated Cadence of Major New U.S. Product Introductions
5 in 5: Estimated Cadence of Major New U.S. Product Introductions 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 2012 2020 iSt
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 TM 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 An
Slide 11: iDose Travoprost US Phase II: Preliminary Efficacy Results
iDose Travoprost US Phase II: Preliminary Efficacy Results Average IOP reductions through Month 12 ranging from 7.9 to 8.5 mmHg in the implant arms Average IOP Reductions from Baseline through Month 12* 9.0 8.5 8.4 8.4 8.5 8.2 7.9 8.0 Represents 32-33% 7.6 reduction arms in the implant 7.5 7.0 6.5 6
Slide 12: iDose Travoprost US Phase II: Preliminary Efficacy Results
iDose Travoprost US Phase II: Preliminary Efficacy Results Mean number of meds Mean 1.00 Number of Medications at Month 12 were and 0.54 for the implant arms 0.56 0.90 0.80 0.72 0.70 Favorable safety profile with no hyperemia reported either implant arm 0.60 0.50 in 0.40 0.30 0.20 0.10 0.00 Week 12
Slide 13: iDose Travoprost: Micro-Scale Rx Injectable Therapy
iDose Travoprost: Micro-Scale Rx Injectable Therapy Medical Needs Address high rates of patient non-adherence with topical glaucoma regimens Provide sufficient duration of effect favorable risk profile iDose Clinical Goals To achieve non-inferiority IOP reduction (comparable results) to existing top
Slide 14: iDose Travoprost Procedure
iDose Travoprost Procedure iDose is not approved by the FDA. s· GLAUK! 15 © 2018 Glaukos Corporation
Slide 15: iDose Travoprost Exchange (Removal) Procedure
iDose Travoprost Exchange (Removal) Procedure iDose is not approved by the FDA. s· GLAUK! 16 © 2018 Glaukos Corporation
Slide 16: 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 17: 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 18: 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 19: Facile, Click-and-Release 2-Stent Procedure
Facile, Click-and-Release 2-Stent Procedure s· GLAUK! 20 © 2018 Glaukos Corporation
Slide 20: 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 in p
Slide 21: 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 22: MIGS Solution for Advanced and Refractory OAG
MIGS Solution for Advanced and Refractory OAG iStent infinite is not approved by the FDA. 23 © 2018 Glaukos Corporation
Slide 23: Market Leader with Market-Expanding Pipeline vs. Single-Product Competitors
Market Leader with Market-Expanding Pipeline vs. Single-Product Competitors 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
Slide 24: Potentially Expanding Our Annual Market Opportunity
Potentially 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 ~
Slide 25: MIGS and Beyond: Platform Development
M I G S A N D B E Y O N D Platform Development 26 © 2018 Glaukos Corporation
Slide 26: Glaukos Platform Pillars
Glaukos Platform Pillars • MIGS pioneer with unrivaled portfolio of micro-scale glaucoma devices Breakthrough ab interno surgical innovation Deep experience and demonstrated track record in micro-engineering design, assembly and manufacturability Regulatory strategy and market positioning focused on
Slide 27: Glaukos Platform Pillars
Glaukos Platform Pillars • Leveraging unique expertise in micro-mechanical design, assembly and filling processes Building seasoned ocular drug delivery team of 30+ chemists, scientists and engineers from leading pharmaceutical companies Understanding necessary drug characteristics and predictabilit
Slide 28: Glaukos: Key Takeaways
Glaukos: Key Takeaways Delivering novel surgical and pharmaceutical glaucoma therapy • Validating iDose drug delivery system and developing new sustained pharmaceuticals platform Extending leadership in MIGS treatment class with industry’s most comprehensive surgical offering Delivering solid cadenc
Slide 29: 30 © 2018 Glaukos Corporation 3
30 © 2018 Glaukos Corporation 3