Glaukos stock rockets 20% as iDose and Epioxa fuel record sales, company targets $1 billion revenue in 2027. The eye-care company also set a preliminary 2027 revenue target of $1 billion, while Medicare coverage remains a key risk for iDose TR. Published 10/30/26 AT 12:44 AM AEDT Glaukos shares jumped more than 20% in early trading Thursday. The eye care company reported record third-quarter sales, sharply raised its full-year forecast and gave a preliminary 2027 revenue target of $1 billion. The stock rose $36.67, or 20.2%, to $218.14, lifting Glaukos' market value to about $12.3 billion. The shares have more than doubled over the past 52 weeks, up about 107%. Record quarter Glaukos reported third-quarter net sales of $211 million, up 58% from a year earlier. "Today, Glaukos reported record third quarter consolidated net sales of $211 million, up 58% versus the year ago quarter," Chairman and Chief Executive Tom Burns said on the earnings call. The company posted adjusted earnings of 47 cents a share, compared with a loss of 16 cents a year earlier. Adjusted gross margin rose nearly 400 basis points to about 88%. Two blockbuster launches Two newer products drove the growth. U.S. glaucoma sales rose 47% to $118.6 million. About $76 million came from iDose TR, a tiny implant that releases glaucoma medication inside the eye for months, reducing the need for daily eye drops. Corneal health sales jumped 154% to $59 million, led by about $53 million from Epioxa, a treatment for keratoconus, a progressive eye disease that thins the cornea. It was Epioxa's first full quarter after it received a dedicated Medicare billing code on July 1. International glaucoma sales rose 15% in constant currency to $33.4 million. Key third-quarter figures: Net sales: $211 million, up 58% Adjusted EPS: 47 cents vs. a 16-cent loss a year ago iDose TR sales: about $76 million Epioxa sales: about $53 million U.S. glaucoma sales: $118.6 million, up 47% Cash and investments: $339.8 million Guidance raised sharply Glaukos raised its 2026 net sales forecast to $775 million to $785 million, up from $680 million to $700 million. The midpoint rose by $90 million. "We are raising our full year 2026 net sales guidance to $775 million to $785 million," Burns said. The company now expects iDose TR revenue in the low $280 million range for the year. $1 billion target Glaukos also gave what Burns called "highly preliminary 2027 revenue guidance of $1 billion." President and Chief Operating Officer Joe Gilliam said management modeled several scenarios for Medicare coverage of iDose TR, including restrictive ones. "We saw the path lead to $1 billion of revenue," he said. Gilliam told analysts to "assume in your models a $65,000 to $70,000 net ASP" for Epioxa. He said early realized pricing was trending toward the higher end of that range. Medicare coverage risk The main risk for Glaukos is Medicare coverage of iDose TR. Regional Medicare contractors proposed local coverage determinations in May that could restrict reimbursement for the implant. Glaukos said there have been no new updates, and contractors have up to a year from the draft to act. Chief Financial Officer Alex Thurman said the company's growth should hold up, "given the fact that Epioxa and iDose continue to be the 2 most transformative revenue growth drivers." Spending to grow Glaukos expects full-year operating expenses of about $630 million, an increase of just over 30%, as it invests in launches and research. The company has 14 disclosed development programs. It plans to launch a keratoconus screening device in 2027 and is targeting FDA approval for iDose TRIO by the end of 2027. It also licensed GLK-901, a tri-specific biologic, from RevOpsis. Analysts raise targets Several analysts raised their price targets after the results, according to Benzinga. The surge brings Glaukos close to doubling its annual revenue in two years. Investors will look for further evidence that its new products can maintain their momentum, particularly if Medicare coverage for iDose tightens. MEET IBT NEWS FROM BELOW CHANNELS

Biotech movers October 29, 2026: GKOS +34% on Q3 growth; IOVA -36% after Phase 2 NSCLC update. BPC UPDATE 10/29/2026 ET TL;DR - biotech movers: October 29, 2026. * Glaukos (GKOS): Q3 revenue surged 58% to $211M and EPS reached $0.47, prompting 2026 guidance of $775-785M and preliminary 2027 revenue guidance of $1B. * Iovance (IOVA): Phase 2 IOV-LUN-202 showed a 24.6% ORR in previously treated non-squamous NSCLC, including 43.3% in KRAS wild-type patients. * GlucoTrack (GCTK): Completed a 1-for-2 reverse split and disclosed pro forma financials showing a $19.7M first-half 2026 consolidated net loss. * Bausch Health (BHC): Plans to redeem approximately $643M of 8.5% senior notes due 2027 using cash, reducing near-term debt and interest expense. * Pulmonx (LUNG): Q3 revenue returned to growth at $22.8M while adjusted EBITDA loss narrowed 57% and full-year guidance was maintained. * Alnylam (ALNY): Q3 product sales reached $1.29B, up 52%, led by a 59% increase in TTR franchise revenue to $1.15B. * Coherus Oncology (CHRS): Early tagmokitug data showed a 75% confirmed ORR in eight evaluable first-line ESCC patients, though the dataset remains small. * Mesoblast (MESO): RYONCIL revenue rose 44% to $28M, while FDA feedback supported proceeding toward a rexlemestrocel-L BLA in LVAD-related GI bleeding. Biotech updates. Glaukos (NYSE: GKOS) posted Q3 2026 revenue of $211M (+58% YoY), powered by corneal health (+154%) and U.S. glaucoma (+47%) sales. EPS reached $0.47 (vs. -$0.16 YoY) with an 85% gross margin. Full-year 2026 revenue guidance was raised to $775M-$785M, with preliminary 2027 revenue guided to $1B, backed by Epioxa and iDose TR rollouts. Glaukos ended the quarter debt-free with $339.8M in cash. Shares rose 34% to $242.48. Pulmonx (NASDAQ: LUNG) posted Q3 2026 revenue of $22.8M (+6% YoY), returning to top-line growth. Net loss narrowed to $8.4M ($0.19/share) from $14M ($0.34/share) in Q3 2025. Gross margin reached 76%, and an 18% cut in opex lowered adjusted EBITDA loss by 57% to $3.5M. The company reaffirmed full-year 2026 revenue guidance and held $52.7M in cash reserves. Shares surged 26% to $3.17. Bausch Health (NYSE:BHC) will redeem approximately $643 million of 8.5% senior notes due 2027 using cash on hand, reducing near-term debt and future interest expense while simplifying its capital structure. The transaction strengthens the maturity profile but uses a meaningful portion of existing liquidity. Shares closed up 29% at $8.91. Lexaria Bioscience (NASDAQ:LEXX) expanded its DehydraTECH intellectual property portfolio to 70 patents, adding protection in the U.S., Canada and Europe across GLP-1 drug delivery, diabetes, hypertension and epilepsy applications. The new grants strengthen the platform's licensing and partnering position, but near-term value still depends on converting the broader IP estate into commercial agreements and revenue. Shares closed up 14% at $3.77. Mesoblast (NASDAQ: MESO) posted fiscal Q1 2027 revenue of $28 million for RYONCIL, reflecting a 44% year-over-year increase, while cutting operating cash burn by 86% down to $2.1 million and retaining $99 million in cash reserves. The firm completed dosing across 350 patients in its Phase 3 rexlemestrocel-L study for chronic low back pain (with top-line readout anticipated in 2027). Furthermore, Mesoblast obtained FDA authorization to move forward with a BLA submission targeting the prevention of life-threatening gastrointestinal bleeding in heart failure patients supported by LVADs, all while advancing the expansion of RYONCIL into adult graft-versus-host disease. Shares closed up 17% at $15.67. Insmed (NASDAQ: INSM) posted Q3 2026 revenue of $524.4M, with BRINSUPRI sales reaching $400.1M (+29% Q/Q) and ARIKAYCE bringing in $124.4M (+9% Y/Y). Following BRINSUPRI's Japanese launch and FDA acceptance of the ARIKAYCE sNDA, full-year revenue guidance was raised to 1.35-1.40B for BRINSUPRI and 460-470M for ARIKAYCE. Shares jumped 15% to $111.59. Iovance Biotherapeutics (NASDAQ: IOVA) presented updated Phase 2 IOV-LUN-202 trial results, demonstrating a 24.6% overall response rate in previously treated non-squamous mNSCLC. Response rates reached 43.3% in patients with KRAS wild-type tumors and 59.1% within a retrospectively defined smoker-enriched subgroup lacking KRAS and HER2 mutations. While data from the broader study will support an anticipated sBLA submission in 2027, prospective validation of this biomarker strategy is underway in the new POSITILITY cohort. Shares closed down 36% at $9.55. Coherus Oncology (NASDAQ: CHRS) reported encouraging early data for tagmokitug in first-line ESCC. At the cutoff date, the drug achieved a confirmed overall response rate of 75% in 8 evaluable patients, which increased to 89% after two subsequent confirmations and reached 100% in PD-L1-positive patients. Although these results support the selected Phase 2 recommended dose and expansion cohorts, the small sample size requires longer follow-up and validation in larger trials to determine the durability of the response. Shares closed down 23% at $0.9. Alnylam Pharmaceuticals (NASDAQ: ALNY) posted third-quarter 2026 net product sales of $1.29 billion, representing a 52% year-over-year surge propelled by a 59% gain in TTR franchise revenues to $1.15 billion. Sustained commercial traction for AMVUTTRA underpins full-year financial targets, while expanded Phase 3 trial recruitment for nucresiran alongside preparations to initiate a pivotal Huntington's disease study for brezosiran in 2027 reinforce the long-term clinical pipeline. Shares closed down 25% at $174. CervoMed (NASDAQ: CRVO) published peer-reviewed Phase 2b RewinD-LB and translational findings evaluating neflamapimod in dementia with Lewy bodies. The data highlighted mechanistic activity alongside improved efficacy at trough concentrations of at least 4 ng/mL. While these results reinforce the development plan for an updated 100 mg twice-daily tablet formulation, they do not provide new pivotal efficacy outcomes. Shares closed down 21% at $1.75. GlucoTrack (NASDAQ: GCTK) executed a 1-for-2 reverse stock split that went into effect on October 23, 2026, cutting total outstanding common shares from roughly 2.37 million to 1.18 million prior to the start of split-adjusted trading on October 26. Concurrently, the business released pro forma financial results accounting for its July 2026 business combination with Lokahi Therapeutics, disclosing a consolidated net loss of $19.7 million across the first half of 2026 alongside a $28.1 million net loss for full-year 2025. This share consolidation leaves underlying operational fundamentals and total equity valuation unaltered. Shares closed down 32% at $1.39.

Glaukos reported record third-quarter sales of $211 million, up 58% year over year, driven by its Epioxa corneal therapy and iDose TR glaucoma treatment. Non-GAAP earnings per share were $0.47, with a gross margin near 88%. Corneal-health sales rose 154% to $59 million, of which Epioxa contributed about $53 million. iDose TR brought in roughly $76 million. The company raised its 2026 revenue outlook to $775 million-$785 million, from $680 million-$700 million. It also set a preliminary 2027 revenue target of $1 billion, despite possible Medicare coverage restrictions on iDose TR. International glaucoma sales rose 13% to $33.4 million.