Glaukos (GKOS) investor relations material

Corneal health and Epioxa launch

• Epioxa generated $11 million in Q2, marking its first full quarter of commercial availability, with claim processing now progressing post-J-code implementation in July.

• Photrexa has been sunset commercially, with limited supply reserved for special physician-determined cases.

• Payer access for Epioxa is expanding, with over 120 million commercially covered lives and growing Medicaid coverage; price is not a major issue, and focus is on claim adjudication and patient access.

• No automatic free product program exists for delayed payment, but patient assistance is available for financially qualified individuals.

• The main challenge is ramping treated eyes back to pre-sunset levels (18,000–20,000 eyes), with efforts focused on breaking initial logjams and accelerating patient access.

Competitive landscape and innovation

• A competitor is expected to present clinical data in October, but commercial entry is not anticipated until 2028–2029, giving Epioxa a significant first-mover advantage.

• Epioxa's clinical effectiveness and oxygen requirement are highlighted as differentiators, with the market expected to grow as awareness and detection improve.

• A handheld keratoconus screening device is set to launch by year-end, aiming to improve early detection and diagnosis rates.

iDose and core business performance

• iDose saw $20 million sequential growth in Q2, driven by expanded professional fees and increased Medicare Advantage and commercial utilization.

• Guidance for iDose implies flat sequential growth in the second half due to seasonality and a strong Q2 performance.

• The final LCD outcome remains uncertain, but management expects any policy to address patient needs and maintain long-term opportunity for iDose.

• Core MIGS business has returned to growth, and international performance remains strong despite some expected slowing and FX tailwinds.