Summary of Glaukos (GKOS) Conference Call - December 14, 2023 Company Overview - **Company**: Glaukos Corporation - **Product**: iDose TR, a micro-invasive injectable therapy for glaucoma Key Industry Insights - **FDA Approval**: iDose TR received FDA approval, marking a significant milestone for glaucoma treatment and Glaukos [6][10] - **Market Need**: High non-compliance rates (up to 90%) with traditional glaucoma medications create a strong demand for effective alternatives [12][16] Core Points and Arguments 1. **Product Description**: iDose TR is designed to lower intraocular pressure (IOP) for up to three years, addressing patient non-compliance and chronic side effects associated with topical medications [6][7] 2. **Clinical Efficacy**: - Phase 3 trials showed IOP reductions of 6.6 to 8.4 mmHg for iDose TR compared to 6.5 to 7.7 mmHg for topical Timolol [9] - 81% of iDose TR subjects were free of IOP-lowering topical medications at 12 months [13] - 93% of subjects remained well-controlled on the same or fewer medications after a single administration [14] 3. **Safety Profile**: iDose TR demonstrated excellent tolerability with no serious adverse events related to corneal endothelial cell loss or periorbital fat atrophy [10][15] 4. **Regulatory Pathway**: The FDA's conservative approach led to restrictions on repeat administration, which Glaukos plans to address in future discussions [11][36] 5. **Commercial Strategy**: - A controlled launch is planned for the first half of 2024, focusing on surgeon training and market access initiatives [20][22] - A temporary C code will be used until a permanent J code is established, expected in the second half of 2024 [22][50] 6. **Pricing**: The wholesale acquisition cost for iDose TR is set at $13,950 per dose, which is considered competitive given its long-duration therapy [25][72] Additional Important Information - **Manufacturing Capabilities**: Glaukos has developed a state-of-the-art nanotechnology manufacturing facility in California, which passed FDA inspection with no observations [18] - **Patient Access Initiatives**: Glaukos is committed to ensuring access for all eligible patients, including a philanthropic initiative to donate units for qualifying requests [26][27] - **Revenue Guidance**: The company reaffirmed 2023 revenue guidance of $307 to $310 million and introduced preliminary 2024 guidance of $350 to $360 million, factoring in iDose TR's launch [28][29] Conclusion - The approval of iDose TR represents a transformative opportunity for glaucoma management, with a strong focus on addressing patient non-compliance and improving treatment outcomes. Glaukos is well-positioned to capitalize on this market need through strategic commercialization efforts and robust clinical data supporting the product's efficacy and safety.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Table of Contents Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2022 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-37463 GLAUKOS CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organizat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-37463 GLAUKOS CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) ...

Financial Performance - Total assets increased to $1,049.7 million as of December 31, 2021, compared to $1,005.5 million in 2020, reflecting a growth of approximately 4.4%[325] - The company reported a net accumulated deficit of $365.2 million as of December 31, 2021, compared to $310.1 million in 2020, indicating an increase in losses[325] - Net sales for the year ended December 31, 2021, were $294,011,000, representing a 31% increase from $224,959,000 in 2020[326] - Gross profit for 2021 was $227,384,000, compared to $133,240,000 in 2020, indicating a significant improvement in profitability[326] - The net loss for 2021 was $49,593,000, an improvement from a net loss of $120,348,000 in 2020[328] - Total comprehensive loss income for 2021 was $50,582,000, down from $120,674,000 in 2020, indicating a positive trend in overall financial health[328] Cash and Liquidity - Cash and cash equivalents rose to $100.7 million in 2021 from $96.6 million in 2020, marking an increase of about 2.2%[325] - Cash provided by operating activities for 2021 was $24.7 million, compared to cash used of $23.0 million in 2020[345] - Glaukos Corporation's cash, cash equivalents, and restricted cash at the end of 2021 totaled $110.1 million, up from $106.2 million at the end of 2020[345] - The Company had cash, cash equivalents, restricted cash, and short-term investments totaling $423.5 million and net working capital of $422.8 million[349] Liabilities and Debt - Total liabilities increased to $462.5 million in 2021 from $338.1 million in 2020, representing a rise of approximately 37%[325] - The company’s convertible senior notes increased to $280.0 million in 2021 from $189.4 million in 2020, a rise of approximately 47.8%[325] - The fair value of Convertible Senior Notes decreased to $341.8 million in 2021 from $442.2 million in 2020, a decline of 22.7%[425] - The total interest expense related to the Convertible Notes for the year ended December 31, 2021, was $9.3 million, compared to $10.3 million for the year ended December 31, 2020[461] Inventory and Assets - Inventory levels increased significantly to $23.0 million in 2021 from $15.8 million in 2020, reflecting a growth of about 45.5%[325] - Property and equipment net value rose to $68,969,000 in 2021, up from $24,008,000 in 2020, marking an increase of 187.4%[410] - Total lease assets increased to $77.164 million in 2021 from $71.452 million in 2020, representing an 8% growth[432] Research and Development - Total operating expenses increased to $260,256,000 in 2021 from $256,793,000 in 2020, with research and development expenses rising to $100,999,000[326] - Research and development expenses included $10,000,000 for in-process research and development in 2021, highlighting ongoing investment in innovation[326] - Research and development expenses include costs for personnel, clinical trials, and related manufacturing, with no material adjustments to prior period accrued estimates for clinical trial activities through December 31, 2021[391][392] Tax and Regulatory Matters - The income tax provision for the year ended December 31, 2021, was $326 thousand, compared to a benefit of $(11,966) thousand in 2020[492] - The balance of gross unrecognized tax benefits increased to $25.816 million from $22.803 million in 2020, reflecting a net addition of $3.489 million for current year tax positions[499] - The IRS concluded its examination of the Company's 2017 federal income tax return in November 2020 with no proposed adjustments[501] Stock and Compensation - The total stock-based compensation expense for the year ended December 31, 2021, was $30.1 million, down from $43.3 million in 2020 and $39.5 million in 2019[487] - The total fair value of stock options that vested in 2021 was $10.3 million, compared to $20.3 million in 2020 and $33.9 million in 2019[483] - The weighted average estimated grant date fair value per share of stock options granted in 2021 was $43.43, compared to $12.85 in 2020 and $32.07 in 2019[482] Business Operations - The Company operates as one segment focused on the development and commercialization of ophthalmic therapies for glaucoma, corneal disorders, and retinal diseases[354] - The company completed the merger with Avedro, which contributed to the increase in common stock and paid-in capital[330] - The company has made significant investments in global sales, marketing, and research and development activities[345]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-37463 GLAUKOS CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organizat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 Or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Commission file number: 001-37463 GLAUKOS CORPORATION (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) ...