Glaukos Archives - Medical Design Sourcing

Medtech jobs: The world’s largest medical device companies are hiring

Medical device companies are trying to fill thousand of medtech jobs. [Photo by ijeab – stock.adobe.com]

The world’s largest medical device companies are still hiring for medtech jobs despite layoffs in tech and other industries.

Medtech developers — and medtech jobs — are resilient, with the industry’s COVID-19 pandemic performance only bolstering its recession-proof reputation.

That’s not to say there haven’t been job cuts in medtech, led by thousands of layoffs at Philips as it struggles with a massive recall of deadly respiratory devices. But most medical device manufacturers are still hiring, and in some cases they can’t attract enough candidates to fill every vacancy in a tight labor market.

Stryker, for example, grew to approximately 51,000 employees as of the end of 2022, increasing its headcount by nearly 11 percent last year. Boston Scientific reported nearl…

Glaukos submits FDA New Drug Application for iDose TR drug-eluting implant

The iDose ophthalmic device. [Image from Glaukos]Glaukos (NYSE:GKOS) announced today that it submitted a New Drug Application (NDA) to the FDA for its iDose TR implant.

Aliso Viejo, California-based Glaukos designed iDose TR as a micro-invasive intraocular implant. It continuously delivers therapeutic levels of a proprietary formulation of travoprost from within the eye over extended periods of time. Once all travoprost is released, iDose TR is removed and replaced with an implant. This potentially offers an alternative to daily eye drop treatment.

Get the full story at our sister site, Drug Delivery Business News.

Glaukos beats The Street in Q4

Glaukos (NYSE:GKOS) shares took a hit today despite fourth-quarter results that topped the consensus forecast.

Shares of GKOS dipped 7% at $46.90 apiece in midday trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — rose 8.1%.

The Aliso Viejo, California-based ophthalmic implant maker posted losses of $31.5 million. That amounts to losses of 66¢ per share on sales of $71.2 million for the three months ended Dec. 31, 2022.

Glaukos’ bottom line slid nearly $10 million further into the red on a sales decline of 2.7%.

Adjusted to exclude one-time items, losses per share came in at 53¢. That landed 3¢ ahead of projections on Wall Street. Glaukos topped analysts’ sales estimates by 5.36%, too.

“Our fourth-quarter performance caps off a successful year of execution and key milestone achievement despite reimbursement headwinds and a challenging macroeconomic …

Glaukos beats The Street in Q3

Glaukos (NYSE:GKOS) shares hardly shifted on third-quarter results that came in ahead of the consensus forecast.

The Aliso Viejo, California-based ophthalmic implant maker posted losses of $27.6 million in the quarter. That amounts to 58¢ per share on sales of $71.3 million for the three months ended Sept. 30, 2022.

Get the full story at our sister site, Drug Delivery Business News.

5 top ophthalmic device innovations you need to know

Innovation finds its way into all areas of medtech, and ophthalmic treatments represent another burgeoning space. [Image from Pixabay]It may not be a new wave, but medtech companies continue to improve upon technologies for the human eye.

Implants, lenses and more comprise the space’s latest innovations, with a number of companies finding new ways to fix old problems.

Here are five innovations in ophthalmic technology that have caught the eye of editors here at MassDevice:

Johnson & Johnson Vision’s drug-eluting contact lens

Johnson & Johnson Vision (NYSE:JNJ) Director of Clinica Science Dr. Brian Pall told MassDevice earlier this year that researchers considered the notion of delivering medication through contact lenses as far back as the 1960s.

[Image from Johnson & Johnson Vision]It took until 2022 for that vision to come to fruition. In March, Johnson & Johnson announced that the FDA approved its Acuvue Theravision with K…

Medtech sales reach a record high as R&D spend and employee counts climb

The Medtech Big 100: The world’s largest medical device companies

The medtech industry is bouncing back from the economic fallout caused by the COVID-19 pandemic, according to an analysis of our Medtech Big 100 data.

The medical device industry has seemingly recovered from the economic headwinds caused by the COVID-19 pandemic, according to a Medical Design & Outsourcing analysis of financial data from the Medtech Big 100, 100 of the largest medical device companies’ most recent annual results.

More than half of the companies listed in this year’s Big 100 ranking reported positive growth over their prior-year sales. Total revenue, research spending and employment figures were up significantly as the industry adjusts to a world with COVID-19 challenges.

For this analysis, we compared the performance of the Medtech Big 100 companies in 2021 and early 2022 with their results in 2020. Due to t…

Phase 3 trial data support Glaukos iDose eye drop alternative

Glaukos (NYSE:GKOS) today announced positive outcomes from two Phase 3 pivotal trials for its iDose TR system.

iDose TR contains a novel formulation of travoprost, a prostaglandin analog used to reduce intraocular pressure (IOP). Glaukos designed it to continuously release therapeutic levels of medication for at least one year. Once all travoprost is released, iDose TR is removed and replaced with an implant, potentially offering an alternative to daily eye drop treatment.

Get the full story at our sister site, Drug Delivery Business News.

Glaukos stock dips on big Q2 earnings miss

Glaukos (NYSE:GKOS) shares were down this morning on second-quarter results that missed the consensus earnings forecast.

The Aliso Viejo, California–based glaucoma treatment developer posted losses of $45.5 million, or 96¢ per share, on sales of $72.7 million for the three months ended June 30, 2022, for a bottom-line slide deeper into the red on a sales decline of 6.9%.

Adjusted to exclude one-time items, losses per share were 83¢, 39¢ behind Wall Street, where analysts were looking for sales of nearly $68 million.

“I’m pleased with our second quarter performance and solid execution of our strategies despite a challenging global environment,” Glaukos Chair and CEO Thomas Burns said in a news release. “We are now in the midst of several exciting new product launches and continue to successfully invest in and advance our robust pipeline of novel, dropless platform technologies designed to meaningfully advance the standard of care and improve outcomes for …

Proposed 2023 Medicare Physician Fee Schedule could have a big impact on glaucoma surgeries

[Photo by Tobias Dahlberg]

The Centers for Medicare & Medicaid Services has released its proposed Medicare Physician Fee Schedule and issued a call for feedback on the proposed rule, which would take effect Jan. 1, 2023.

Medtech analyst Ryan Zimmerman and the team at BTIG went through the 2,000-page document and identified potentially market-moving changes in two areas: surgical glaucoma and advanced wound care.

CMS proposed cuts for most surgical glaucoma procedure payment rates to physicians, with double-digit losses for tube shunt revision (down 25% from $1,032 to $774), canaloplasty (down 19.9% from $761 to $610) and canaloplasty with a stent (down 11.4% from $799 to $708), according to BTIG research.

The canalplasty rate reduction would likely hit Omni surgical system developer Sight Sciences, Zimmerman said in a BTIG report. It could also give a lift to Alcon and Glaukos, which could see…

Glaukos posts Street-beating Q1 results

Glaukos (NYSE:GKOS) this week posted first-quarter results that beat the overall consensus on Wall Street.

The San Clemente, California-based company reported profits of $5.4 million, or 11¢ per share, on sales of $67.7 million for the three months ended March 31, for a sales loss of -0.42% compared with Q1 2021.

Adjusted to exclude one-time items, earnings per share were -38¢, 13¢ ahead of The Street, where analysts were looking for sales of $60.85 million.

“I’m pleased with our first-quarter performance and execution of our strategies despite a challenging global environment,” CEO Thomas Burns said in a news release. “We continue to successfully invest in and advance our robust pipeline of novel, dropless platform technologies designed to transform vision by disrupting the standard of care and improving outcomes for the benefit of patients worldwide suffering from chronic eye diseases.”

Glaukos expects net sales for 2022 to be in the range of $2…

Glaukos rises on Street-beating Q4

Glaukos (NYSE:GKOS) shares ticked up today on fourth-quarter results that beat the consensus forecast.

The San Clemente, California-based eye disease treatment developer posted losses of $21.9 million, or losses per share of 47¢, on sales of $73.2 million for the three months ended Dec. 31, 2021, for a bottom-line slide deeper into the red on minimal sales growth totaling just about $6 million.

Adjusted to exclude one-time items, earnings per share were 16¢, 53¢ ahead of Wall Street, where analysts were looking for sales of $67.3 million.

“Our fourth-quarter performance caps off a successful year of execution on many key strategic initiatives despite continued COVID-19 dynamics and other reimbursement challenges we faced,” Glaukos President and CEO Thomas Burns said in a news release. “We continue to successfully invest in and advance our robust pipeline of novel, dropless platform technologies designed to transform vision by disrupting the standard of c…

Glaukos announces executive leadership changes

Glaukos this week announced several executive leadership changes that will take place on April 1.

Joseph Gilliam is appointed as president and chief operating officer. He previously served as the chief financial officer and senior VP of corporate development for the San Clemente, California-based company since 2017.

Here are Glaukos’ new executive committee appointments:

Chris Calcaterra will assume the new role of executive VP of global commercial operations. He joined Glaukos in 2008 as chief commercial officer and has served as chief operating officer since February 2017. Alex Thurman will succeed Gilliam to become senior VP and chief financial officer. He joined Glaukos as VP of global tax administration in July 2016 and has served as VP of finance since December 2016. Tomas Navratil will become the company’s new chief development officer. He has served as senior VP of research and development since joining the company in late 2020.

“On…