Glaukos

Glaukos

Medical devices for glaucoma treatment

Overview

Glaukos focuses on ophthalmology by developing and commercializing medical devices and therapies for glaucoma, corneal disorders, and retinal diseases. Its products mainly target surgeons who treat eye conditions, with a core technology in micro invasive glaucoma surgery (MIGS). The company’s MIGS devices, such as the Trabecular Micro Bypass Stent and next-generation iStent, are implanted in the eye to improve outflow of eye fluid and lower intraocular pressure, offering a less invasive option compared with traditional surgeries. Glaukos differentiates itself by pioneering MIGS and bringing the first US-approved MIGS device to market in 2012, continuing to expand its portfolio through research, development, and strategic acquisitions. The company aims to improve patient care by providing safer, effective, and longer-lasting treatment options for glaucoma and related eye diseases, addressing unmet needs in ophthalmology.

About Glaukos

Simplify's Rating
Why Glaukos is rated
B-
Rated B on Competitive Edge
Rated B on Growth Potential
Rated C on Differentiation

Industries

Industrial & Manufacturing

Healthcare

Company Size

1,001-5,000

Company Stage

IPO

Headquarters

Aliso Viejo, California

Founded

1998

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Simplify's Take

What believers are saying

  • Q1 2026 sales rose 41% to $150.6 million, showing strong demand.
  • Permanent Epioxa J-code should improve reimbursement and streamline payer processing after July 1, 2026.
  • $280.5 million in cash and no debt support commercialization and R&D spending.

What critics are saying

  • Epioxa reimbursement friction can suppress uptake until the J-code becomes effective.
  • Glaukos remains unprofitable, with rising SG&A and R&D consuming launch gross profit.
  • Heavy reliance on iDose TR and Epioxa leaves results exposed to launch underperformance.

What makes Glaukos unique

  • Pioneered MIGS and launched the first FDA-approved U.S. MIGS device in 2012.
  • Expanding from glaucoma into corneal cross-linking and retinal-disease therapies.
  • iDose TR and Epioxa extend Glaukos's dropless platform beyond daily eye drops.

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Funding

Total Funding

$284.2M

Above

Industry Average

Funded Over

10 Rounds

Post IPO Convertible funding comparison data is currently unavailable. We're working to provide this information soon!
Post IPO Convertible Funding Comparison
Coming Soon

Stock Price

Growth & Insights and Company News

Headcount

6 month growth

2%

1 year growth

2%

2 year growth

1%
Women In Optometry
Apr 17th, 2026
Glaukos receives permanent J-code for Epioxa(TM).

Glaukos receives permanent J-code for Epioxa(TM). New J-code for Epioxa(TM), J2789, set to become effective July 1, 2026. April 17, 2026 Glaukos Corporation announced the U.S. Centers for Medicare and Medicaid Services (CMS) has assigned a unique, permanent Healthcare Common Procedure Coding System (HCPCS) J-code for Epioxa(TM) HD/Epioxa(TM)("Epioxa") for the treatment of keratoconus. ABOUT the code. The new J-code for Epioxa, J2789, is set to become effective July 1, 2026. It is expected to streamline the reporting and payment of Epioxa by U.S. payers over time. "The assignment of a product-specific J-code for Epioxa represents an important milestone, supporting our market access initiatives to increase access and expand coverage for patients suffering from keratoconus," said Thomas Burns, Glaukos chairman and chief executive officer. "Once effective, this new J-code is expected to enable more streamlined and consistent coverage and payment for Epioxa over time, strengthening the foundation for our commercial launch and enabling broader patient access." J-codes are reported by U.S. health care providers and used by U.S. government and commercial payers to streamline the billing and reimbursement process for pharmaceuticals, such as Epioxa, administered by a health care professional. Epioxa represents a transformative innovation in keratoconus care, offering an incision-free alternative to traditional corneal cross-linking procedures as it does not require the removal of the corneal epithelium, the outermost layer of the front of the eye. This novel, oxygen-enriched topical therapeutic, bioactivated by UV light, is designed to eliminate the pain associated with removal of the epithelium, streamline the procedure and minimize recovery, all while delivering clinically meaningful outcomes and exceptional value to patients, providers and the health care system. ABOUT EPIOXA HD/EPIOXA Indication: EPIOXA(TM) HD (riboflavin 5'-phosphate ophthalmic solution) 0.239% and EPIOXA(TM)(riboflavin 5'-phosphate ophthalmic solution) 0.177% are photoenhancers indicated for use in epithelium-on corneal collagen cross-linking for the treatment of keratoconus in adults and pediatric patients aged 13 years and older, in conjunction with the O2n(TM) System and the Boost Goggles(R). Dosage and Administration: EPIOXA HD and EPIOXA are for topical ophthalmic use. NOT for injection or intraocular use. EPIOXA HD and EPIOXA are supplied in single-dose syringes. Discard opened syringes after use. EPIOXA HD and EPIOXA are for use with the O2n System and Boost Goggles only. Refer to the O2n System Operator's Manual and Boost Goggles User Guide for device instructions. Contraindications: EPIOXA HD and EPIOXA are contraindicated in patients with known hypersensitivity to benzalkonium chloride or any ingredients in EPIOXA HD and EPIOXA. Epithelium-on corneal collagen cross-linking is contraindicated in aphakic and pseudophakic patients without a UV-blocking intraocular lens. Warnings and Precautions: Corneal collagen cross-linking should be used with caution in patients with a history of herpetic keratitis due to the potential for reactivation of herpes keratitis. Adverse Reactions: The most common adverse reaction was conjunctival hyperaemia (31%). Other adverse reactions, occurring in 5% to 25% of eyes included: corneal opacity (haze), photophobia, punctate keratitis, eye pain, eye irritation, increased lacrimation, corneal epithelium defect, eyelid oedema, corneal striae, visual acuity reduced, dry eye, and anterior chamber flare.

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