• Needham initiated reporting Glaucos Corp GKOS with a Price target of $66 and a purchase recommendation.
  • The analyst writes that GKOS has lost market share in minimally invasive glaucoma surgery (MIGS) due to reimbursement dynamics. But recent launches could allow it to recapture most of that share, and the analyst sees it as a potential source of upside.
  • iDose could meaningfully expand GKOS’ overall addressable market and become a significant growth driver in 2024, says Needham.
  • Recently the company announced topline dates for both pivotal Phase 3 studies of iDose TR, which met their pre-specified primary efficacy endpoints and demonstrated excellent tolerability and a favorable safety profile.
  • Glaukos plans to advance its plans for an NDA submission to the U.S. FDA for the slow-release iDose TR model, with an FDA review and decision expected to be completed by the end of 2023.
  • At Corneal Health, iLink is expected to show steady double-digit growth, and the iLution platform could represent a significant opportunity over the longer term.
  • In August, the The FDA has granted 510(k) clearance for the Glaukos iStent infinite trabecular micro-bypass system, indicated for use in a self-contained procedure to lower elevated intraocular pressure.
  • Price promotion: GKOS shares are trading up 5.90% to $56.19 on the latest check Tuesday.

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