tiprankstipranks
Glaukos (NYSE: GKOS) Shoots Up Following Positive Clinical Result
Market News

Glaukos (NYSE: GKOS) Shoots Up Following Positive Clinical Result

Glaukos Corp. (NYSE: GKOS) stock is surging on Wednesday as the pharmaceutical and ophthalmic medical technology announced positive topline data for both fast and slow release Phase 3 pivotal trials of iDose TR.

iDose TR is the company’s novel formulation of travoprost, a drug used to reduce Intraocular pressure (IOP) in the treatment of open-angle glaucoma (OAG) or ocular hypertension. The positive topline data indicates that it offers a suitable alternative to daily eye drop treatment.

Glaukos stated that the Phase 3 trials achieved the pre-specified primary efficacy endpoint for both the fast and slow release models of iDose TR through three months.

93% of patients in the trial for slow-release iDose TR remained well-controlled on the same or fewer topical medications to reduce IOP at 12 months after a single dose of iDose TR was administered.

Thomas Burns, Glaukos Chairman, and CEO commented on the results, “We are very pleased to announce these robust and replicative positive Phase 3 pivotal data results for iDose TR, which mark a major milestone for our company and powerfully reaffirms our view that iDose TR can be a transformative novel technology able to fundamentally improve the glaucoma treatment paradigm for patients.”

The company plans to move ahead with filing a New Drug Application (NDA) with the U.S. FDA for the slow-release iDose TR model and expects the FDA review and decision to be completed by the end of next year.

Is Glaukos a Buy?

Wall Street analysts remain sidelined on the stock with a Hold consensus rating based on two Buys, two Holds, and one Sell.

 GKOS’s average price prediction of $58.60 implies that the stock is priced in at current levels.

 

Trending

Name
Price
Price Change
S&P 500
Dow Jones
Nasdaq 100
Bitcoin

Popular Articles