Glaukos (GKOS) 10-Q 13 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 13, 2015
Document and Entity Information
Entity Registrant Name	GLAUKOS Corp
Entity Central Index Key	1,192,448
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		32,016,637
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents	$ 104,144	$ 2,304
Accounts receivable, net	6,502	5,398
Inventory	2,908	2,258
Prepaid expenses and other current assets	701	534
Restricted cash	80	60
Total current assets	114,335	10,554
Property and equipment, net	1,859	1,950
Intangible asset, net	11,725	13,475
Deposits and other assets	253	42
Total assets	128,172	26,021
Current liabilities:
Accounts payable	5,264	3,298
Accrued liabilities	6,866	6,462
Line of credit		1,850
Long-term debt, current portion	9,294	8,532
Deferred rent	36	45
Total current liabilities	21,460	20,187
Long-term debt, less current portion	11,638	8,968
Stock warrant liability	273	379
Other liabilities	10	12
Total liabilities	$ 33,381	$ 29,546
Commitments and contingencies
Convertible preferred stock (see Note 6)		$ 157,379
Stockholders' (deficit) equity
Preferred stock, $0.001 par value; 0 and 5,000 shares authorized at December 31, 2014 and June 30, 2015, respectively; no shares issued and outstanding at December 31, 2014 and June 30, 2015, respectively
Common stock, $0.001 par value; 77,000 and 150,000 shares authorized at December 31, 2014 and June 30, 2015, respectively; 2,470 and 31,976 shares issued and 2,422 and 31,948 shares outstanding at December 31, 2014 and June 30, 2015, respectively	$ 32	$ 6
Additional paid-in capital	287,074	8,155
Accumulated other comprehensive income	83	44
Accumulated deficit	(192,266)	(159,372)
Total stockholders' (deficit) equity before treasury stock	94,923	(151,167)
Less treasury stock	(132)	(132)
Total stockholders' (deficit) equity	94,791	(151,299)
Noncontrolling interest		(9,605)
Total (deficit) equity	94,791	(160,904)
Total liabilities, convertible preferred stock and (deficit) equity	$ 128,172	$ 26,021

CONSOLIDATED BALANCE SHEETS (PA

CONSOLIDATED BALANCE SHEETS (PARENTHETICAL) - $ / shares shares in Thousands	Jun. 30, 2015	Dec. 31, 2014
CONSOLIDATED BALANCE SHEETS
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	5,000	0
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	150,000	77,000
Common stock, shares issued	31,976	2,470
Common stock, shares outstanding	31,948	2,422

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF OPERATIONS
Net sales	$ 17,754	$ 11,099	$ 32,420	$ 19,348
Cost of sales	3,281	2,339	6,075	4,283
Gross profit	14,473	8,760	26,345	15,065
Operating expenses:
Selling, general and administrative	12,516	6,582	20,332	12,531
Research and development	7,339	4,422	12,579	8,804
Total operating expenses	19,855	11,004	32,911	21,335
Loss from operations	(5,382)	(2,244)	(6,566)	(6,270)
Other income (expense), net
Interest income		1		2
Loss on deconsolidation of DOSE	(25,685)		(25,685)
Interest expense and other expense, net	(293)	(219)	(562)	(437)
Change in fair value of stock warrants	(1,152)	(32)	(1,161)	(126)
Total other income (expense), net	(27,130)	(250)	(27,408)	(561)
Loss before taxes	(32,512)	(2,494)	(33,974)	(6,831)
Provision for income taxes				2
Net loss	(32,512)	(2,494)	(33,974)	(6,833)
Net loss attributable to noncontrolling interest	(584)	(420)	(1,080)	(802)
Net loss attributable to Glaukos Corporation	$ (31,928)	$ (2,074)	$ (32,894)	$ (6,031)
Net loss per share, basic and diluted, attributable to Glaukos Corporation stockholders	$ (10.96)	$ (0.90)	$ (12.35)	$ (2.70)
Weighted-average shares used to compute basic and diluted net loss per share attributable to Glaukos Corporation stockholders	2,912	2,302	2,663	2,236

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS
Net loss	$ (32,512)	$ (2,494)	$ (33,974)	$ (6,833)
Other comprehensive income:
Foreign currency translation adjustments	39	4	39	22
Other comprehensive income	39	4	39	22
Total comprehensive loss	(32,473)	(2,490)	(33,935)	(6,811)
Comprehensive loss attributable to noncontrolling interest	(584)	(420)	(1,080)	(802)
Comprehensive loss attributable to Glaukos Corporation	$ (31,889)	$ (2,070)	$ (32,855)	$ (6,009)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - Equity Component [Domain] - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Operating Activities
Net loss	$ (33,974)	$ (6,833)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,143	2,108
Stock-based compensation	4,779	738
Loss on deconsolidation of DOSE	25,685
Change in fair value of stock warrant liability	1,161	126
Amortization of debt discount and deferred financing costs	15
Deferred rent	(11)	(15)
Change in operating assets and liabilities:
Accounts receivable, net	(1,112)	(1,558)
Inventory	(657)	(477)
Prepaid expenses and other current assets	(167)	(130)
Accounts payable and accrued liabilities	1,187	303
Other assets	(110)	(79)
Net cash used in operating activities	(1,061)	(5,817)
Investing activities
Purchase of iDOSE product line and related assets from DOSE Medical	(15,000)
Purchases of property and equipment	(319)	(309)
Net cash used in investing activities	(15,319)	(309)
Financing activities
Proceeds from initial public offering, net of issuance costs	114,932
Net proceeds from senior secured term and draw-to-term loans	6,852
Net payments of revolving line of credit	(1,850)
Payments of subordinated notes	(3,503)
Proceeds from exercise of stock options	1,364	652
Proceeds from exercise of stock warrants	378	839
Net cash provided by financing activities	118,173	1,491
Effect of exchange rate changes on cash and cash equivalents	47	23
Net (decrease) increase in cash and cash equivalents	101,840	(4,612)
Cash and cash equivalents, beginning of period	2,304	6,728
Cash and cash equivalents, end of period	104,144	2,116
Supplemental disclosures of cash flow information
Interest paid	499	438
Taxes paid	11	7
Supplemental schedule of noncash investing and financing activities
Issuance costs associated with initial public offering in accounts payable and accrued liabilities	1,251
Reduction of liability upon vesting of stock options previously exercised for unvested stock	$ 44	$ 4

Organization and Basis of Prese

Organization and Basis of Presentation	6 Months Ended
	Jun. 30, 2015
Organization and Basis of Presentation
Organization and Basis of Presentation	Note 1. Organization and Basis of Presentation Organization and Basis of Presentation Glaukos Corporation (Glaukos or the Company), incorporated in Delaware on July 14, 1998, is a developer, manufacturer and marketer of medical devices for the treatment of glaucoma. The accompanying consolidated financial statements include the accounts of Glaukos, its wholly-owned subsidiaries Glaukos Europe GmbH and Glaukos Japan GK and affiliated entity DOSE Medical Corporation (see Note 9). All significant intercompany balances and transactions among the consolidated entities have been eliminated in consolidation. Reverse Stock Split On June 11, 2015, the Company effected a 1 for 2.5 share reverse stock split of the Company’s common stock and convertible preferred stock. Neither the par value nor the authorized number of shares was adjusted as a result of the reverse stock split. All issued and outstanding common stock, shares of common stock held in treasury, convertible preferred stock, warrants, and per share amounts contained in the accompanying financial statements and notes to the financial statements have been retroactively adjusted to give effect to the reverse stock split for all periods presented. Initial Public Offering On June 30, 2015, the Company completed an initial public offering (IPO), selling 6.9 million newly issued shares of common stock at a price of $18.00 per share. The IPO generated net cash proceeds of $113.7 million, after deducting underwriting commissions of approximately $8.7 million and other related expenses of $1.8 million. The underwriting commissions and offering costs were reflected as a reduction to the IPO proceeds received in additional paid-in capital. Immediately prior to the closing of the IPO, all unexercised warrants to purchase shares of Series D convertible preferred stock were net exercised at the IPO price per share, and then all outstanding shares of convertible preferred stock automatically converted into 21.7 million shares of common stock. Following the closing of the IPO, there were no shares of preferred stock and no warrants to purchase shares of Series D convertible preferred stock outstanding. An additional 4.5 million shares of common stock were reserved for the Company’s 2015 Omnibus Incentive Compensation Plan and 450,000 shares of common stock were reserved for the Company’s 2015 Employee Stock Purchase Plan. Acquisition of certain DOSE Medical Corporation Assets On June 30, 2015, the Company acquired certain assets from DOSE, including the iDose product line, in exchange for a cash payment of $15.0 million and the elimination of all amounts owed by DOSE to the Company. In addition to an asset purchase, the parties agreed to an amended and restated patent license agreement and an amended and restated transition services agreement that provides for limited support from the Company for a period of up to three years (see Note 9).

Balance Sheet Details

Balance Sheet Details	6 Months Ended
	Jun. 30, 2015
Balance Sheet Details
Balance Sheet Details	Note 3. Balance Sheet Details Accounts Receivable, Net Accounts receivable consisted of the following (in thousands): December 31, June 30, 2014 2015 Accounts receivable $ $ Less allowance for doubtful accounts $ $ Inventory Inventory consisted of the following (in thousands): December 31, June 30, 2014 2015 Finished goods $ $ Work in process Raw material $ $ Accrued Liabilities Accrued liabilities consisted of the following (in thousands): December 31, June 30, 2014 2015 Accrued contract payments (see Note 8) $ $ Accrued bonuses Accrued vacation benefits Accrued clinical study expenses Other accrued liabilities $ $

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2015
Fair Value Measurements
Fair Value Measurements	Note 4. Fair Value Measurements Fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. The following tables present information about the Company's financial assets and financial liabilities measured at fair value on a recurring basis as of December 31, 2014 and June 30, 2015, and indicates the fair value hierarchy of the valuation techniques utilized by the Company to determine such fair value (in thousands): At December 31, 2014 December 31, 2014 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ - $ - $ - $ - Total assets $ - $ - $ - $ - Liabilities Stock warrant liabilities $ $ - $ - $ Total liabilities $ $ - $ - $ At June 30, 2015 June 30, 2015 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ - $ - $ - $ - Total assets $ - $ - $ - $ - Liabilities Stock warrant liabilities $ $ - $ - $ Total liabilities $ $ - $ - $ The stock warrant liabilities are recorded at fair value using the Black-Scholes option pricing model, which requires inputs such as the expected term of the warrants, volatility and risk-free interest rate. Some of these inputs are subjective and generally require significant analysis and judgment to develop. There were no transfers between levels within the fair value hierarchy during the periods presented. In conjunction with the February 2015 Amended and Restated Revolving Credit and Term Loan Agreement as more fully described in Note 5, the Company issued warrants to the lenders to purchase 11,298 shares of common stock at an exercise price of $8.85 per share. For the six months ended 2015, the Company recorded other expense of $0.3 million related to changes in the fair value of the warrants. The fair value of the warrants as of the issuance date was estimated to be $53,000 using an option pricing framework, considering multiple exit scenarios and the probability of a down-round financing, with the following assumptions deemed by the Company to be significant unobservable inputs: risk-free interest rate of 1.9%; dividend yield of 0.0%; expected volatility of 70.0%; and an expected life of 7 years. The fair value of the warrants as of June 30, 2015 was estimated to be $273,000 using the Black-Scholes valuation model with the following assumptions deemed by the Company to be significant unobservable inputs: risk-free interest rate of 2.0%; dividend yield of 0.0%; expected volatility of 70.0%; and an expected life of 6.7 years. If the value of the underlying shares were to decrease by 10%, the fair value of the warrants would decrease by approximately the same amount. In conjunction with loans in 2010 from certain holders of the Company's preferred stock, which were converted into preferred stock in 2011, the Company issued warrants to purchase 156,860 shares of Series D convertible preferred stock at $7.65 per share. Warrants to purchase 29,333 shares were exercised in 2014. Warrants to purchase 127,526 shares were exercised in 2015; 49,410 warrant shares were exercised with cash payment and 78,116 warrant shares were net exercised into 44,914 shares of common stock immediately prior to the IPO at the IPO price per share. For the years ended December 31, 2013 and 2014, the Company recorded other income of approximately $0.3 million and $5,000 , respectively, and for the six months ended June 30, 2014 and 2015, the Company recorded other expense of $0.1 million and $0.9 million, respectively, related to changes in the fair value of the warrants. The fair value of the warrants as of December 31, 2014, was estimated to be $0.4 million using the Black-Scholes valuation model with the following assumptions deemed by the Company to be significant unobservable inputs: risk-free interest rate of 1.0%; dividend yield of 0.0%; expected volatility of 48.5%; and an expected life of 2.7 years. The following table provides a reconciliation of liabilities measured at fair value using significant unobservable inputs (Level 3) on a recurring basis (in thousands): Stock Warrant Liability Balance at December 31, 2014 $ Issuance of common stock warrants Change in the fair value of stock warrants Issuance of Series D convertible preferred stock in connection with exercises of preferred stock warrants Balance at June 30, 2015 $

Long-term Debt

Long-term Debt	6 Months Ended
	Jun. 30, 2015
Long-Term Debt.
Long-Term Debt	Note 5. Long-Term Debt Bank Loan Facility In June 2013, the Company entered into a Loan and Security Agreement (the Agreement) with the Company’s primary bank, under which the bank agreed to extend to the Company a revolving loan in the maximum principal amount of $6.0 million. Advances under the loan were limited to the lesser of (i) $6.0 million or (ii) 77% of the sum of cash, cash equivalents and eligible domestic accounts receivable. The entire unpaid principal amount plus any accrued but unpaid interest were to become due and payable in full on June 5, 2015. Obligations under the Agreement bore interest on the outstanding daily balance thereof at the bank’s prime rate plus 0.5% (3.75% at December 31, 2014). Amounts owed are secured by a first priority security interest in all of the Company’s assets, excluding intellectual property. The Agreement is subject to certain reporting and financial covenants which, if not met, could constitute an event of default. As of December 31, 2014, the balance outstanding on the line of credit was $1.9 million. In February 2015, the Agreement was amended and restated, at which time the balance outstanding on the line of credit was $2.1 million. In February 2015, the Company and its primary bank executed an Amended and Restated Revolving Credit and Term Loan Agreement (the Amended Agreement) which provides for a $5.0 million senior secured term loan, a $5.0 million senior secured draw-to term loan and an $8.0 million senior secured revolving credit facility. Amounts owed under the Amended Agreement are secured by a first priority security interest in all of the Company’s assets, excluding intellectual property. The Agreement is subject to certain reporting and financial covenants which, if not met, could constitute an event of default. On the closing date, the Company received $5.0 million cash under the senior secured term loan and immediately paid off the $2.1 million balance outstanding on the line of credit. This loan requires quarterly principal payments of $0.4 million over a three -year period beginning May 1, 2016. The senior secured draw-to term loan was available through February 23, 2016 for advances up to an aggregate of $5.0 million, and it required quarterly principal payments equal to 1/12 of the aggregate principal amount over a three -year period beginning May 1, 2016. As of June 30, 2015, the Company had drawn $2.0 million under the draw-to term loan. The senior secured term loan and draw-to term loan mature and were required to be fully paid by February 23, 2019. Advances under the revolving line of credit were limited to the lesser of (i) $8.0 million or (ii) a calculated borrowing base consisting of (a) 80% of eligible accounts receivable plus (b) the lesser of 30% of eligible inventory or $1.5 million. The entire unpaid principal amount plus any accrued but unpaid interest under the revolving line of credit was due and payable in full on February 23, 2017. The Company incurred loan origination fees of $41,000 which was recorded as a loan discount and debt issuance costs of $132,000 which was recorded as a deferred asset. The Company is permitted to make voluntary prepayments of the term and draw-to term loans without prepayment penalty. Outstanding balances under the senior secured term loan and senior secured draw-to term loan bore interest on the outstanding daily balance at an annual percentage rate equal to the bank’s prime rate plus 2% (5.25% at June 30, 2015). At the Company’s option all or a portion of the amounts owed under any of the senior secured term loan and draw-to term loan may have been converted into Eurodollar-based advances at an annual percentage rate equal to LIBOR plus 3% . Outstanding balances under the revolving credit facility bore interest on the outstanding daily balance thereof at an annual percentage rate equal to the bank’s prime rate plus 1.75% . At the Company’s option all or a portion of the amounts owed under the revolving credit facility may have been converted into Eurodollar-based advances at an annual percentage rate equal to LIBOR plus 2.75% . In connection with the execution of the Amended Agreement, the Company issued warrants to purchase an aggregate of 11,298 shares of common stock at an exercise price of $8.85 per share (See Note 4). The Company accounted for the debt discount and deferred asset utilizing the effective interest method. Amortization of debt discount and the deferred asset to interest expense amounted to $11,000 and $15,000 for the three months and six months ended June 30, 2015, respectively. On July 31, 2015, the Company paid off and fully retired the agreement with its primary bank with payment of $7.0 million in principal plus all interest and fees payable through the payoff date. Accordingly, this facility is no longer outstanding and available to the Company. The Company’s debt balances, including current portions, were as follows (in thousands): December 31, June 30, 2014 2015 Senior secured term loan $ - $ Senior secured draw-to term loan - Subordinated notes payable Unamortized debt discount - Total debt Less current portion of long-term debt Total long-term debt $ $ Subordinated Notes Payable in Connection with GMP Vision Solutions In January 2007, the Company entered into an agreement (the Original Agreement) with GMP Vision Solutions, Inc. (GMP) to acquire certain in-process research and development. In connection with the agreement, the Company was obligated to make periodic royalty payments equal to a single-digit percentage of revenues received for royalty-bearing products and periodic royalty payments at a higher royalty rate applied to all amounts received in connection with the grant of licenses or sublicenses of the related intellectual property. There was no related royalty expense recorded in cost of sales in the periods ended June 30, 2014 and 2015. In December 2012, the Company entered into an agreement with GMP in which it paid GMP $1.0 million for a 90 -day option to buy out all remaining royalties payable to GMP. In April 2013, the option expired unexercised, and as provided in the agreement, the $1.0 million payment satisfied the obligation to pay the first $1.0 million in royalties earned beginning on January 1, 2013. The $1.0 million payment was recorded in cost of sales in the year ended December 31, 2012. In November 2013, the Company entered into an amended agreement with GMP in which remaining royalties payable to GMP (the Buyout Agreement) were canceled in exchange for the issuance of $17.5 million in promissory notes payable to GMP and a party related to GMP (together, the GMP Note Parties). The GMP notes are collateralized by all of the Company’s assets, excluding intellectual property. However, in connection with the Buyout Agreement, the GMP Note Parties entered into agreements with the Company’s primary bank pursuant to which any collateralized interests, liens, rights of payment or ability to initiate any enforcement actions in the event of an event of default are subordinate to the rights of the Company’s primary bank under the Revolving Line of Credit. The Buyout Agreement also calls for a payment of up to $2.0 million in the event of a sale of the Company meeting certain criteria. The promissory notes carry an interest rate of 5% per annum and required monthly interest only payments from November 30, 2013 through December 31, 2014 of $72,900 , followed by 24 equal monthly principal and interest payments of $767,700 , which began on January 31, 2015, and end on December 31, 2016. The Company concluded that the $17.5 million transaction represented the purchase of an intangible asset. The Company estimated a useful life of five years over which the intangible asset will be amortized to cost of sales in the statements of operations, which amortization period was determined after consideration of the projected outgoing royalty payment stream had the agreement not occurred, and the remaining life of the patents obtained in the Original Agreement. After determining that the pattern of future cash flows associated with this intangible asset could not be reliably estimated with a high level of precision, the Company concluded that the intangible asset will be amortized on a straight-line basis over the useful life. The following reflects the composition of intangible assets, net (in thousands): December 31, June 30, 2014 2015 Gross amount $ $ Accumulated amortization Total $ $ Weighted average amortization period (in months) The Company recorded related amortization expense in cost of sales of $0.9 million, $0.9 million in the three months ended June 30, 2014 and 2015, respectively, and $1.8 million and $1.8 million in the six months ended June 30, 2014 and 2015, respectively. Estimated amortization expense will be $3.5 million in each of 2015, 2016 and 2017 and $3.0 million in 2018.

Convertible Preferred Stock

Convertible Preferred Stock	6 Months Ended
	Jun. 30, 2015
Convertible Preferred Stock.
Convertible Preferred Stock	Note 6. Convertible Preferred Stock Immediately p rior to the completion of the IPO, and after all unexercised warrants to purchase shares of Series D convertible preferred stock were net exercised at the IPO price per share , the Company had outstanding 21,736,367 shares of convertible preferred stock which automatically converted into 21,736,367 shares of the Company’s common stock. The related carrying value of $159.1 million was reclassified to additional paid-in capital in the periods ending June 30, 2015, and no shares of convertible preferred stock were outstanding as of June 30, 2015. The following reflects the composition of convertible preferred stock as of December 31, 2014 (in thousands, except per share amounts): Series A convertible preferred stock, $0.001 par value; 3,000 shares authorized and 1,200 shares issued and outstanding at December 31, 2014; liquidation preference of $3,000 at December 31, 2014 $ Series B convertible preferred stock, $0.001 par value; 5,805 shares authorized and 2,322 shares issued and outstanding at December 31 2014; liquidation preference of $12,538 at December 31, 2014 Series C convertible preferred stock, $0.001 par value; 14,750 shares authorized and 5,819 shares issued and outstanding at December 31, 2014; liquidation preference of $40,731 at December 31, 2014 Series D convertible preferred stock, $0.001 par value; 13,844 shares authorized and 5,410 shares issued and outstanding at December 31, 2014; liquidation preference of $41,387 at December 31, 2014 Series E convertible preferred stock, $0.001 par value; 8,754 shares authorized and 3,501 shares issued and outstanding at December 31, 2014; liquidation preference of $29,500 at December 31, 2014 Series F convertible preferred stock, $0.001 par value; 8,474 shares authorized and 3,390 shares issued and outstanding at December 31, 2014; liquidation preference of $30,000 at December 31, 2014 Total $

Stock-Based Compensation

Stock-Based Compensation	6 Months Ended
	Jun. 30, 2015
Stock-Based Compensation.
Stock-Based Compensation	Note 7. Stock-Based Compensation The Company has four stock-based compensation plans (the Stock Plans)—the 2001 Stock Option Plan (the 2001 Stock Plan), the 2011 Stock Plan, the 2015 Omnibus Incentive Compensation Plan (the 2015 Stock Plan) and the 2015 Employee Stock Purchase Plan (the ESPP). The purpose of these plans is to provide incentives to employees, directors and nonemployee consultants. The Company will no longer grant any awards under the 2001 Stock Plan and the 2011 Stock Plan. The maximum term of any stock options granted under the Stock Plans is 10 years. The options generally vest 25% on the first anniversary of the original vesting date, with the balance vesting monthly or annually over the remaining three years. Stock options are granted at exercise prices at least equal to the fair value of the underlying stock at the date of the grant. The Company reserved an aggregate of 4.5 million shares of common stock for issuance under the 2015 Stock Plan, and 450,000 shares of common stock for issuance under the ESPP. The ESPP is intended to qualify as an “employee stock purchase plan” under Section 423 of the Internal Revenue Code. Stock options granted pursuant to the 2001 Stock Plan and 2011 Stock Plan generally permit optionees to elect to exercise unvested options in exchange for restricted common stock. All unvested shares issued upon the early exercise of stock options, so long as they remain unvested, are subject to the Company's right of repurchase at the optionee's original exercise price for a 90-day period beginning on the date that an optionee's service with the Company voluntarily or involuntarily terminates. Consistent with authoritative guidance, early exercises are not considered exercises for accounting purposes. Cash received for the exercise of unvested options is recorded as a liability, which liability is released to equity at each reporting date as the shares vest. During the years ended December 31, 2013 and 2014 and the six months ended June 30, 2014 and 2015, employees exercised options for 0 , 55,908 , 55,908 and 337 unves ted shares, respectively. As of December 31, 2013 and 2014 and June 30, 2015, 4,001 , 38,678 and 27,551 shares, respectively, remained subject to a repurchase right. As of December 31, 2013 and 2014 and June 30, 2015, the related liability, which is included in other accrued liabilities in the accompanying consolidated balance sheets, was approximately $15,000 , $0.15 million and $0.11 million, respectively. The following table summarizes stock option activity under the 2001 Stock Plan, 2011 Stock Plan and 2015 Stock Plan (in thousands): Number of Shares Underlying Options Outstanding at December 31, 2014 Granted Exercised Canceled/forfeited/expired Outstanding at June 30, 2015 Exercisable at June 30, 2015 The following table summarizes the allocation of stock-based compensation in the accompanying consolidated statements of operations (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2014 2015 2014 2015 Cost of sales $ $ $ $ Selling, general & administrative Research and development Total $ $ $ $ Stock-Based Awards to Employees The fair value of each option award is estimated on the date of grant using a Black-Scholes option valuation model applying the assumptions noted in the following table. The weighted-average assumptions used to estimate the fair value of options granted to employees were as follows: Three Months Ended Six Months Ended June 30, June 30, 2014 2015 2014 2015 Risk-free interest rate % % % % Expected dividend yield % % % % Expected volatility % % % % Expected term (in years) In July 2014, the Company granted stock options to purchase an aggregate of 1.2 million shares of common stock, which options contain a performance condition such that they would only become exercisable in the event that the Company’s common stock was listed on a national securities exchange within one year from the date of grant. In accordance with authoritative guidance, the Company did not record any compensation expense associated with the grants until the performance condition was satisfied in the three month period ended June 30, 2015. Upon the completion of the IPO on June 30, 2015, the Company immediately recognized cumulative compensation cost of $3.8 million for the grants as if the method had been applied since the date of grant using the required graded accelerated attribution method, and the Company will record compensation expense over the remainder of the four -year vesting period using this method. Stock options granted subsequent to July 2014 do not contain a performance condition.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies
Commitments and Contingencies	Note 8. Commitments and Contingencies The Company, from time to time, is involved in legal proceedings or regulatory encounters or other matters in the ordinary course of business that could result in unasserted or asserted claims or litigation. At December 31, 2014 and June 30, 2015, there were no matters for which the negative outcome was considered probable or estimable, and, as a result, no amounts have been accrued at either date. Operating leases The Company leases office, research and production facilities, and certain office equipment under operating lease agreements that expire at various dates through 2017. The facilities lease for 20,800 square feet expires on March 31, 2016, and contains an option for the Company to extend the lease for an additional two years at market rates. On January 1, 2014, the Company commenced a year-to-year lease of 750 square feet of office space in Karlsruhe, Germany. In June 2015, the Company entered into a sublease for an approximately 37,700 square foot facility located in San Clemente, California effective September 1, 2015, as well as a five -year lease for these premises that takes effect January 1, 2017 upon expiration of the sublease. The Company recorded deferred rent of $57,000 and $46,000 as of Dece mber 31, 2014 and June 30, 2015 , respectively, in conjunction with its facilities lease agreement. Rent expense was $0.1 million for each of the three mont hs ended June 30, 2014 and 2015 and $0.2 for the six months ended June 30, 2014 and 2015. Future minimum payments under the aforementioned noncancelable operating leases for each of the five succeeding years are as follows (in thousands): 2015 $ 2016 2017 2018 2019 Thereafter $ Purchase Commitments The Company is a party to various purchase arrangements related to components used in production and research and development activities. As of December 31, 2014 and June 30, 2015, the Company had noncancelable, firm purchase commitments with certain vendors totaling approximately $0.8 million and $1.7 million, respectively, due within one year. There are no material purchase commitments due beyond one year. Regents of the University of California On December 30, 2014, the Company executed an agreement (the Agreement) with the Regents of the University of California (the Regents) to correct inventorship in connection with a group of the Company’s U.S. patents (the Patent Rights) and to obtain from the Regents a covenant that it did not and would not claim any right or title to the Patent Rights and will not challenge or assist any others in challenging the Patent Rights. In connection with the Agreement, Glaukos agreed to pay to the Regents the sum of $2.7 million via five payments during the course of 2015, and, beginning with sales on or after January 1, 2015, to pay a low single-digit percentage of worldwide net sales of certain current and future products, including the Company’s iStent products, with a required minimum annual payment of $500,000 , which obligation shall end on the date that the last of the Patent Rights expires, which is currently expected to be in 2022. The $2.7 million obligation, net of imputed interest of $0.1 million, was accrued as of December 31, 2014 and charged to cost of sales in the year ended December 31, 2014. Under the terms of the agreement, the payments comprising the $2.7 million obligation are due within 60 days of the IPO, and therefore the Company must pay the remaining balance due of $1,825,000 on or before August 29, 2015.

Variable Interest Entity

Variable Interest Entity	6 Months Ended
	Jun. 30, 2015
Variable Interest Entity
Variable Interest Entity	Note 9 . Variable Interest Entity In October 2009, the Company formed a wholly-owned subsidiary, DOSE Medical Corporation and in April 2010, the Company distributed all of its shares of common stock of DOSE via a stock dividend to the Company’s stockholders of record as of the close of business on March 31, 2010. Since its formation, the Company had provided DOSE with a small number of leased employees, management services and space, all of which had been charged to DOSE and pursuant to written agreements between the parties. Additionally, the Company had provided DOSE the cash required to fund its operations that, together with accrued interest and charges for the aforementioned services, the Company had recorded in an intercompany receivable account. Up until the aforementioned transaction, the Company had accounted for DOSE as a variable interest entity in which it had a variable interest in all reporting periods since the formation of DOSE. Accordingly, the Company’s consolidated financial statements include the accounts of DOSE, with all intercompany balances eliminated and with the deficit balance of DOSE's net assets reflected as noncontrolling interest, up to but excluding June 30, 2015. On June 30, 2015, the Company completed a transaction initially executed in July 2014, the closing of which was contingent upon the successful completion of an IPO. Pursuant to the terms of the asset purchase agreement, the Company acquired from DOSE certain assets, including the iDose product line, in exchange for payment of $15 million in cash and the elimination of the $10.9 million intercompany receivable owed by DOSE to the Company as of the transaction date. The Company determined the valuation for DOSE based in part on the results of a valuation conducted by an independent third-party, and both the Company’s stockholders and the stockholders of DOSE approved the terms of the asset purchase agreement. In addition to the asset purchase agreement, the parties agreed to an amended and restated patent license agreement and an amended and restated transition services agreement that provides for limited support from the Company to DOSE for a period of up to three years. Either party can terminate the transition services agreement upon adequate written notice. Two members of the Company’s board of directors currently serve on the board of directors of DOSE. The Company has reconsidered its relationship with DOSE as a result of the transaction and has determined that the Company is no longer considered to be the primary beneficiary with the power to direct operations and the right to receive benefits/absorb losses of DOSE; therefore, upon the close of the transaction, the Company derecognized DOSE and will no longer consider it a consolidated entity in its financial statements. Accordingly, in the three months ended June 30, 2015, the Company recorded a charge to other expense in the amount of $25.7 million to reflect the deconsolidation of DOSE’ non-glaucoma related assets and noncontrolling interest. The carrying amount and classification of DOSE’s assets and liabilities at December 31, 2014 that are included in the accompanying consolidated balance sheets are as follows (in thousands): Cash and cash equivalents $ Prepaid expenses Property and equipment, net Total assets of DOSE $ Accounts payable and accrued liabilities $ Liability to Glaukos Corporation Total liabilities of DOSE $ Consolidation of DOSE’s results of operations included the following (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2014 2015 2014 2015 Selling, general and administrative $ $ $ $ Research and development Interest expense Income tax provision - - - Net loss of DOSE $ $ $ $ Consolidation of DOSE’s cash flows included the following (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2014 2015 2014 2015 Cash used in operating activities $ $ $ $ Cash used in investing activities - - Cash provided by financing activities Decrease in cash and cash equivalents of DOSE $ $ $ - $

Business Segment Information

Business Segment Information	6 Months Ended
	Jun. 30, 2015
Segment Information
Business Segment Information	Note 10. Business Segment Information Operating segments are identified as components of an enterprise about which segment discrete financial information is available for evaluation by the chief operating decision-maker in making decisions regarding resource allocation and assessing performance. The Company operates its business on the basis of one reportable segment—ophthalmic medical devices. Three months ended Six months ended June 30, June 30, Geographic Net Sales Information (in thousands) 2014 2015 2014 2015 United States $ $ $ $ International Total net sales $ $ $ $

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2015
Subsequent Events
Subsequent Events	Note 11. Subsequent Events On July 31, 2015, the Company paid off and fully retired the Amended and Restated Revolving Credit and Term Loan Agreement with its primary bank with payment of $7.0 million in principal plus all interest and fees payable through the payoff date.

Summary of Significant Accounti

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2015
Summary of Significant Accounting Policies
Basis of Presentation	Basis of Presentation The accompanying consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (GAAP).
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts in the financial statements and accompanying notes. Actual results could differ materially from those estimates. Management considers many factors in selecting appropriate financial accounting policies and controls and in developing the estimates and assumptions that are used in the preparation of these financial statements. Management must apply significant judgment in this process. In addition, other factors may affect estimates, including expected business and operational changes, sensitivity and volatility associated with the assumptions used in developing estimates, and whether historical trends are expected to be representative of future trends. The estimation process often may yield a range of potentially reasonable estimates of the ultimate future outcomes, and management must select an amount that falls within that range of reasonable estimates. The most significant estimates in the accompanying condensed consolidated financial statements relate to revenue recognition, clinical trial expense accruals, collectability reserves, inventory reserves, fair value of the stock warrant liability and stock-based compensation expense. Although these estimates are based on the Company’s knowledge of current events and actions it may undertake in the future, this process may result in actual results differing materially from those estimated amounts used in the preparation of the financial statements.
Unaudited Interim Financial Information	Unaudited Interim Financial Information The accompanying interim condensed consolidated financial statements are unaudited. The unaudited interim financial statements have been prepared on a basis consistent with the audited financial statements and following the requirements of the United States Securities and Exchange Commission (“SEC”) for interim reporting. As permitted under those rules, certain footnotes and other financial information that are normally required by GAAP can be condensed or omitted. In the opinion of management, the unaudited interim financial statements reflect all adjustments, which include normal recurring adjustments, necessary for the fair presentation of the Company’s financial position as of June 30, 2015 and its results of operations, comprehensive loss and cash flows for the periods presented. These interim financial statements do not include all disclosures required by GAAP and should be read in conjunction with the Company’s financial statements and accompanying notes for the fiscal year ended December 31, 2014, which are contained in the Company’s final prospectus filed by the Company with the SEC pursuant to Rule 424(b)(4) on June 25, 2015 relating to the Company’s Registration Statement on Form S-1/A (File No. 333-204091) for the Company’s initial public offering. The results for the periods ended June 30, 2015 are not necessarily indicative of the results to be expected for the year ended December 31, 2015 or for any other interim period.
Foreign Currency Translation	Foreign Currency Translation The accompanying condensed consolidated financial statements are presented in U.S. dollars. The Company considers the local currency to be the functional currency for its international subsidiaries - the Euro for Glaukos Europe GmbH and the Yen for Glaukos Japan GK. Accordingly, their assets and liabilities are translated into U.S. dollars using the exchange rate in effect on the balance sheet date. Revenues and expenses are translated at average exchange rates prevailing throughout the periods presented. Currency translation adjustments arising from period to period are charged or credited to accumulated other comprehensive income in stockholders’ (deficit) equity. For the three months ended June 30, 2014 and 2015, the Company reported income from foreign currency translation adjustments of approximately $4,000 and $39,000 . For the six months ended June 30, 2014 and 2015, the Company reported income from foreign currency translation adjustments of approximately $22,000 and $39,000 . Realized gains and losses resulting from foreign currency transactions are included in the consolidated statements of operations. For the three months ended June 30, 2014, the Company reported a foreign currency transaction gain of approximately $2,000 , and for the three months ended June 30, 2015, the Company reported a foreign currency transaction loss of approximately $32,000 . For the six months ended June 30, 2014 and 2015, the Company reported foreign currency transaction losses of approximately $14,000 and $85,000 .
Cash and Cash Equivalents	Cash and Cash Equivalents The Company invests its excess cash in investment-grade marketable securities, including money market funds, money market securities, corporate bonds, and corporate commercial paper and U.S. government agency bonds. For financial reporting purposes, liquid investment instruments purchased with an original maturity of three months or less are considered to be cash equivalents. Cash and cash equivalents are recorded at face value or cost, which approximates fair market value. From time to time, the Company maintains cash balances in excess of amounts insured by the Federal Deposit Insurance Commission (FDIC). Investments are stated at fair value as determined by quoted market prices. Investments are considered available-for-sale and, accordingly, unrealized gains and losses are included in accumulated other comprehensive income within stockholders’ equity (deficit). The Company’s entire investment portfolio, except for restricted cash, is considered to be available for use in current operations and, accordingly, all such investments are stated at fair value using quoted market prices and classified as current assets, although the stated maturity of individual investments may be one year or more beyond the balance sheet date. The Company did not have any trading securities or restricted investments at December 31, 2014 and June 30, 2015. Realized gains and losses and declines in value, if any, judged to be other-than-temporary or available-for-sale securities, are reported in interest income or expense, net. When securities are sold, any associated unrealized gain or loss previously reported as a separate component of stockholders’ equity is reclassified out of stockholders’ equity and recorded in the statements of operations in the period sold. Accrued interest and dividends are included in interest income. The Company periodically reviews its available-for-sale securities for other-than-temporary declines in fair value below the cost basis, and whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable.
Fair Value Measurements	Fair Value Measurements Assets and liabilities are measured using quoted prices in active markets and total fair value is the published market price per unit multiplied by the number of units held without consideration of transaction costs. Assets and liabilities that are measured using significant other observable inputs are valued by reference to similar assets or liabilities, adjusted for contract restrictions and other terms specific to that asset or liability. For these items, a significant portion of fair value is derived by reference to quoted prices of similar assets or liabilities in active markets. For all remaining assets and liabilities, fair value is derived using a fair value model, such as a discounted cash flow model or Black-Scholes model.
Fair Value of Financial Instruments	Fair Value of Financial Instruments The carrying amounts of accounts receivable, accounts payable, and accrued liabilities are considered to be representative of their respective fair values because of the short-term nature of those instruments. Based on the borrowing rates currently available to the Company for loans with similar terms, the Company believes that the fair value of long-term debt approximates its carrying value. The carrying amount of the warrant liability and non-controlling interest represent their fair values. The valuation of assets and liabilities are subject to fair value measurements using a three-tiered approach and fair value measurement is classified and disclosed by the Company in one of the following three categories: Level 1: Unadjusted quoted prices in active markets that are accessible at the measurement date for identical, unrestricted assets or liabilities; Level 2: Quoted prices for similar assets and liabilities in active markets, quoted prices in markets that are not active, or inputs which are observable, either directly or indirectly, for substantially the full term of the asset or liability; and Level 3: Prices or valuation techniques that require inputs that are both significant to the fair value measurement and unobservable (i.e., supported by little or no market activity).
Revenue Recognition	Revenue Recognition The Company recognizes revenue from product sales when the following criteria are met: goods are shipped, title and risk of loss has transferred to its customers, persuasive evidence of an arrangement exists and collectability is reasonably assured. Persuasive evidence of an arrangement exists when there is a contractual arrangement in place with the customer. Delivery has occurred when a product is shipped. If persuasive evidence of an arrangement exists and delivery has occurred, the Company determines whether the invoiced amount is fixed or determinable and collectability of the invoiced amount is reasonably assured. The Company assesses whether the invoiced amount is fixed or determinable based on the existing arrangement with the customer, including whether the Company has sufficient history with a customer to reliably estimate the customer’s payment patterns. The Company assesses collectability by evaluating historical cash receipts and individual customer outstanding balances. To the extent all criteria set forth above are not satisfied at the time of shipment, revenue is recognized when cash is received from the customer. Customers are not granted specific rights of return; however, the Company may permit returns of product from customers if such product is returned in a timely manner and in good condition. The Company provides a warranty on its products for one year from the date of shipment, and any product found to be defective or out of specification will be replaced at no charge during the warranty period. Estimated allowances for sales returns and warranty replacements are recorded at the time of sale of the product and are estimated based upon the historical patterns of product returns matched against sales, and an evaluation of specific factors that may increase the risk of product returns. Product returns and warranty replacements to date have been consistent with amounts reserved or accrued and have not been significant.
Stock Warrants	Stock Warrants The Company has issued freestanding warrants to purchase shares of its common stock which are accounted for as a liability because they contain a down-round protection provision which is outside the control of the Company. The warrants are recorded on the Company’s balance sheet at their fair value on the date of issuance and are revalued at each subsequent balance sheet date, with fair value changes recognized as other income or expense in the accompanying condensed consolidated statements of operations. The Company will continue to adjust the liability for changes in fair value until the earlier of the exercise or expiration of the warrants. The Company estimates the fair value of the liability using option pricing models and assumptions that are based on the individual characteristics of the warrants or instruments on the valuation date, including assumptions for expected volatility, expected life, yield, and risk-free interest rate.
Research and Development Expenses	Research and Development Expenses Major components of research and development expense include personnel costs, preclinical studies, clinical trials and related clinical product manufacturing, materials and supplies, and fees paid to consultants. Research and development costs are expensed as goods are received or services rendered. Costs to acquire technologies to be used in research and development that have not reached technological feasibility and have no alternative future use are also expensed as incurred. At each financial reporting date, the Company accrues the estimated costs of clinical study activities performed by third party clinical sites with whom the Company has agreements that provide for fees based upon the quantities of subjects enrolled and clinical evaluation visits that occur over the life of the study. The estimates are determined based upon a review of the agreements and data collected by internal and external clinical personnel as to the status of enrollment and subject visits, and are based upon the facts and circumstances known to the Company at each financial reporting date. If the actual performance of activities varies from the assumptions used in the estimates, the accruals are adjusted accordingly. There have been no material adjustments to the Company’s prior period accrued estimates for clinical trial activities through December 31, 2014 and June 30, 2015. Stock-Based Compensation
Stock-Based Compensation	Stock-Based Compensation The Company recognizes compensation expense for all stock-based awards granted to employees and nonemployees, including members of its Board of Directors. The fair value of stock-based awards made to employees is estimated at the grant date using the Black-Scholes option-pricing model, and the portion that is ultimately expected to vest is recognized as compensation cost over the requisite service period using the straight-line method. The determination of the fair value-based measurement of stock options on the date of grant using an option pricing model is affected by the determination of the fair value of the underlying stock as well as assumptions regarding a number of highly complex and subjective variables. These variables include, but are not limited to, the Company’s stock price volatility over the expected term of the grants, and actual and projected employee stock option exercise behaviors. In the future, as additional empirical evidence regarding these estimates becomes available, the Company may change or refine its approach of deriving them, and these changes could impact the fair value-based measurement of stock options granted in the future. Changes in the fair value-based measurement of stock awards could materially impact the Company’s operating results. The fair values of stock-based awards made to nonemployees are remeasured at each reporting period using the Black-Scholes option-pricing model. Compensation expense for these stock-based awards is determined by applying the remeasured fair values to the shares that have vested during a period.
Net Loss Per Share	Net Loss Per Share Basic net loss per share is calculated by dividing the net loss by the weighted-average number of common shares that were outstanding for the period, without consideration for common stock equivalents. Diluted net loss per share is calculated by dividing the net loss by the sum of the weighted- average number of dilutive common share equivalents outstanding for the period determined using the treasury-stock method. Common stock equivalents are comprised of convertible preferred stock, preferred stock warrants, and stock options outstanding under the Company’s stock option plans. The calculation of diluted net loss per share requires that, to the extent the average fair value of the underlying shares for the reporting period exceeds the exercise price of the warrants and the presumed exercise of such securities are dilutive to net loss per share for the period, adjustments to net loss used in the calculation are required to remove the change in fair value of the warrants for the period. Likewise, adjustments to the denominator are required to reflect the related dilutive shares. For all periods presented, there is no difference in the number of shares used to calculate basic and diluted shares outstanding due to the Company’s net loss position and preferred stock warrants being anti-dilutive. Potentially dilutive securities not included in the calculation of diluted net loss per share attributable to common stockholders because to do so would be anti-dilutive were as follows (in common stock equivalent shares, in thousands): As of June 30, 2014 2015 Convertible preferred stock outstanding 1 Preferred stock warrants outstanding 1 Common stock warrants outstanding - Stock options outstanding (1) 2015 amounts are before the automatic net exercise of all outstanding warrants and the automatic conversion of all outstanding convertible preferred stock which occurred immediately prior to the closing of the IPO.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April 2014, the Financial Accounting Standards Board (FASB) issued an accounting standards update that raises the threshold for disposals to qualify as discontinued operations and allows companies to have significant continuing involvement with and continuing cash flows from or to the discontinued operation. It also requires additional disclosures for discontinued operations and new disclosures for individually material disposal transactions that do not meet the definition of a discontinued operation. This guidance was effective for fiscal years beginning after December 15, 2014, which will be the Company’s fiscal year 2015, with early adoption permitted. The Company does not expect the adoption of the guidance to have a material impact on the Company’s consolidated financial statements. In May 2014, the FASB issued guidance codified in ASC 606, Revenue Recognition — Revenue from Contracts with Customers , which amends the guidance in former ASC 605, Revenue Recognition , ), which provides a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and will supersede most current revenue recognition guidance. This ASU is based on the principle that revenue is recognized to depict the transfer of goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The ASU also requires additional disclosure about the nature, amount, timing and uncertainty of revenue and cash flows arising from customer contracts, including significant judgments and changes in judgments and assets recognized from costs incurred to obtain or fulfill a contract. In July 2015, the FASB deferred the effective date for annual reporting periods beginning after December 15, 2017 (including interim periods within those periods). Early adoption is permitted to the original effective date of December 15, 2016 (including interim periods within those periods). The Company is currently evaluating the impact of the provisions of ASC 606 on its financial statements. In June 2014, the FASB issued an accounting standards update that requires a performance target that affects vesting of a share-based payment award and that could be achieved after the requisite service period to be treated as a performance condition. As such, the performance target should not be reflected in estimating the grant date fair value of the award. Compensation cost should be recognized over the required service period if it is probable that the performance target will be achieved. This guidance will be effective for fiscal years beginning after December 15, 2015, which will be the Company’s fiscal year 2016, with early adoption permitted. The Company does not expect the adoption of the guidance to have material impact on the Company’s consolidated financial statements. In August 2014, the FASB issued ASU No. 2014-15, Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern . This ASU introduces an explicit requirement for management to assess if there is substantial doubt about an entity’s ability to continue as a going concern, and to provide related footnote disclosures in certain circumstances. In connection with each annual and interim period, management must assess if there is substantial doubt about an entity’s ability to continue as a going concern within one year after the issuance date. Disclosures are required if conditions give rise to substantial doubt. ASU 2014-15 is effective for all entities in the first annual period ending after December 15, 2016. The Company is currently assessing the potential effects of this ASU on the consolidated financial statements. In February 2015, the FASB issued Accounting Standards Update (ASU) 2015-02, Amendments to the Consolidation Analysis , which eliminates the deferral of FAS 167, which allows reporting entities with interests in certain investment funds to follow the consolidation guidance in FIN 46(R), and make other changes to both the variable interest model and the voting model. The ASU is effective for annual periods beginning after December 15, 2015 and interim periods therein, with early adoption permitted. During the quarter ended June 30, 2015, the Company early adopted the provisions of the ASU effective January 1, 2015. Based on the asset purchase transaction with DOSE on June 30, 2015 and the Company’s evaluation of the modified relationship with DOSE, management determined that after the transaction DOSE is no longer a VIE requiring consolidation (See Note 9).

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2015
Summary of Significant Accounting Policies
Schedule of potentially dilutive securities not included in the calculation of diluted net loss per share attributable to common stockholders	As of June 30, 2014 2015 Convertible preferred stock outstanding 1 Preferred stock warrants outstanding 1 Common stock warrants outstanding - Stock options outstanding (1) 2015 amounts are before the automatic net exercise of all outstanding warrants and the automatic conversion of all outstanding convertible preferred stock which occurred immediately prior to the closing of the IPO.

Balance Sheet Details (Tables)

Balance Sheet Details (Tables)	6 Months Ended
	Jun. 30, 2015
Balance Sheet Details
Schedule of accounts receivable, net	Accounts Receivable, Net Accounts receivable consisted of the following (in thousands): December 31, June 30, 2014 2015 Accounts receivable $ $ Less allowance for doubtful accounts $ $
Schedule of inventory	Inventory Inventory consisted of the following (in thousands): December 31, June 30, 2014 2015 Finished goods $ $ Work in process Raw material $ $
Schedule of accrued liabilities	Accrued Liabilities Accrued liabilities consisted of the following (in thousands): December 31, June 30, 2014 2015 Accrued contract payments (see Note 8) $ $ Accrued bonuses Accrued vacation benefits Accrued clinical study expenses Other accrued liabilities $ $

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Measurements
Schedule of the Company's financial assets and financial liabilities measured at fair value on a recurring basis	At December 31, 2014 December 31, 2014 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ - $ - $ - $ - Total assets $ - $ - $ - $ - Liabilities Stock warrant liabilities $ $ - $ - $ Total liabilities $ $ - $ - $ At June 30, 2015 June 30, 2015 (Level 1) (Level 2) (Level 3) Assets Cash equivalents $ - $ - $ - $ - Total assets $ - $ - $ - $ - Liabilities Stock warrant liabilities $ $ - $ - $ Total liabilities $ $ - $ - $
Reconciliation of liabilities measured at fair value using level 3 significant unobservable inputs (Level 3) on a recurring basis	Stock Warrant Liability Balance at December 31, 2014 $ Issuance of common stock warrants Change in the fair value of stock warrants Issuance of Series D convertible preferred stock in connection with exercises of preferred stock warrants Balance at June 30, 2015 $

Long-Term Debt (Tables)

Long-Term Debt (Tables)	6 Months Ended
	Jun. 30, 2015
Long-Term Debt.
Schedule of the Company’s debt balances	December 31, June 30, 2014 2015 Senior secured term loan $ - $ Senior secured draw-to term loan - Subordinated notes payable Unamortized debt discount - Total debt Less current portion of long-term debt Total long-term debt $ $
Schedule reflecting the composition of intangible assets, net	December 31, June 30, 2014 2015 Gross amount $ $ Accumulated amortization Total $ $ Weighted average amortization period (in months)

Convertible Preferred Stock (Ta

Convertible Preferred Stock (Tables)	6 Months Ended
	Jun. 30, 2015
Convertible Preferred Stock
Convertible Preferred Stock
Schedule reflecting the composition of convertible preferred stock as of December 31, 2014	The following reflects the composition of convertible preferred stock as of December 31, 2014 (in thousands, except per share amounts): Series A convertible preferred stock, $0.001 par value; 3,000 shares authorized and 1,200 shares issued and outstanding at December 31, 2014; liquidation preference of $3,000 at December 31, 2014 $ Series B convertible preferred stock, $0.001 par value; 5,805 shares authorized and 2,322 shares issued and outstanding at December 31 2014; liquidation preference of $12,538 at December 31, 2014 Series C convertible preferred stock, $0.001 par value; 14,750 shares authorized and 5,819 shares issued and outstanding at December 31, 2014; liquidation preference of $40,731 at December 31, 2014 Series D convertible preferred stock, $0.001 par value; 13,844 shares authorized and 5,410 shares issued and outstanding at December 31, 2014; liquidation preference of $41,387 at December 31, 2014 Series E convertible preferred stock, $0.001 par value; 8,754 shares authorized and 3,501 shares issued and outstanding at December 31, 2014; liquidation preference of $29,500 at December 31, 2014 Series F convertible preferred stock, $0.001 par value; 8,474 shares authorized and 3,390 shares issued and outstanding at December 31, 2014; liquidation preference of $30,000 at December 31, 2014 Total $

Share-Based Compensation (Table

Share-Based Compensation (Tables)	6 Months Ended
	Jun. 30, 2015
Stock-Based Compensation.
Schedule summarizing stock option activity under the 2001 Stock Plan, 2011 Stock Plan and 2015 Stock Plan	Number of Shares Underlying Options Outstanding at December 31, 2014 Granted Exercised Canceled/forfeited/expired Outstanding at June 30, 2015 Exercisable at June 30, 2015
Schedule summarizing the allocation of stock-based compensation in the accompanying consolidated statements of operations	Three Months Ended Six Months Ended June 30, June 30, 2014 2015 2014 2015 Cost of sales $ $ $ $ Selling, general & administrative Research and development Total $ $ $ $
Schedule of the weighted-average assumptions used to estimate the fair value of options granted to employees	Three Months Ended Six Months Ended June 30, June 30, 2014 2015 2014 2015 Risk-free interest rate % % % % Expected dividend yield % % % % Expected volatility % % % % Expected term (in years)

Commitments and Contingencies (

Commitments and Contingencies (Tables)	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies
Schedule of future minimum lease payments under noncancelable operating leases	2015 $ 2016 2017 2018 2019 Thereafter $

Variable Interest Entity (Table

Variable Interest Entity (Tables)	6 Months Ended
	Jun. 30, 2015
Variable Interest Entity
Schedule of DOSE's financial information included in the accompanying financial statements:	The carrying amount and classification of DOSE’s assets and liabilities at December 31, 2014 that are included in the accompanying consolidated balance sheets are as follows (in thousands): Cash and cash equivalents $ Prepaid expenses Property and equipment, net Total assets of DOSE $ Accounts payable and accrued liabilities $ Liability to Glaukos Corporation Total liabilities of DOSE $ Consolidation of DOSE’s results of operations included the following (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2014 2015 2014 2015 Selling, general and administrative $ $ $ $ Research and development Interest expense Income tax provision - - - Net loss of DOSE $ $ $ $ Consolidation of DOSE’s cash flows included the following (in thousands): Three Months Ended Six Months Ended June 30, June 30, 2014 2015 2014 2015 Cash used in operating activities $ $ $ $ Cash used in investing activities - - Cash provided by financing activities Decrease in cash and cash equivalents of DOSE $ $ $ - $

Business Segment Information (T

Business Segment Information (Tables)	6 Months Ended
	Jun. 30, 2015
Segment Information
Schedule of Geographic Net Sales Information	Three months ended Six months ended June 30, June 30, Geographic Net Sales Information (in thousands) 2014 2015 2014 2015 United States $ $ $ $ International Total net sales $ $ $ $

Organization and Basis of Pre27

Organization and Basis of Presentation (Details) $ / shares in Units, $ in Thousands	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 15, 2015	Jun. 30, 2015USD ($)$ / sharesshares	Jun. 29, 2015shares
Organization and Basis of Presentation
Ratio for reverse stock split		0.40
Proceeds from initial public offering, net of issuance costs | $			$ 114,932
Common shares issued upon the conversion of convertible preferred stock (in shares)			21,736,367
Warrants to Purchase Shares of Series D Convertible Preferred Stock
Organization and Basis of Presentation
Warrants outstanding (in shares)	0		0
Convertible Preferred Stock
Organization and Basis of Presentation
Common shares issued upon the conversion of convertible preferred stock (in shares)			21,700,000
Shares outstanding	0		0	21,736,367
Common Stock | IPO
Organization and Basis of Presentation
Number of shares issued	6,900,000
Share price (in dollars per share) | $ / shares	$ 18		$ 18
Proceeds from initial public offering, net of issuance costs | $	$ 113,700
Underwriting commissions | $	8,700
Stock issuance costs | $	$ 1,800
Omnibus Incentive Compensation Plan 2015
Organization and Basis of Presentation
Shares reserved for future issuance	4,500,000		4,500,000
Employee Stock Purchase Plan 2015
Organization and Basis of Presentation
Shares reserved for future issuance	450,000		450,000

Organization and Basis of Pre28

Organization and Basis of Presentation (Details 2) - Jun. 30, 2015 - USD ($) $ in Thousands	Total	Total
Acquisition of certain DOSE Medical Corporation Assets
Cash payments for the acquisition of certain assets of related party		$ 15,000
DOSE Medical Corporation
Acquisition of certain DOSE Medical Corporation Assets
Cash payments for the acquisition of certain assets of related party	$ 15,000
Maximum period of support under transition services agreement	3 years

Summary of Significant Accoun29

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Foreign Currency Translation
Foreign currency translation adjustments	$ 39	$ 4	$ 39	$ 22
Foreign currency transaction gain (loss)	(32)	$ 2	(85)	$ (14)
Accounts Receivable
Allowance for bad debts	$ 75		$ 75		$ 50

Summary of Significant Accoun30

Summary of Significant Accounting Policies (Details 2) - shares shares in Thousands	Jun. 30, 2015	Jun. 30, 2014
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	27,119	26,080
Convertible Preferred Stock
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	21,691	21,637
Preferred Stock Warrants
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	78	132
Common Stock Warrants
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	11
Stock options
Anti-dilutive securities
Anti-dilutive securities excluded from computation of earnings per share	5,339	4,311

Balance Sheet Details (Details)

Balance Sheet Details (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Accounts Receivable, Net
Accounts receivable	$ 6,577		$ 5,448
Less allowance for doubtful accounts	(75)		(50)
Accounts receivable, net	6,502		5,398
Inventory
Finished goods	1,077		962
Work in process	153		194
Raw materials	1,678		1,102
Total inventory	2,908		2,258
Property and equipment, net	1,859		1,950
Depreciation and amortization	2,143	$ 2,108
Accrued Liabilities
Accrued contract payments (see Note 8)	2,090		2,604
Accrued bonuses	1,907		1,695
Accrued vacation benefits	940		746
Accrued clinical study expenses	638		490
Other accrued liabilities	1,291		927
Total accrued liabilities	$ 6,866		$ 6,462

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Jun. 30, 2015	Dec. 31, 2014
Liabilities
Stock warrant liabilities	$ 273	$ 379
Total liabilities	273	379
Fair Value, Inputs, Level 3
Liabilities
Stock warrant liabilities	273	379
Total liabilities	$ 273	$ 379

Fair Value Measurements (Deta33

Fair Value Measurements (Details 2) - USD ($) $ / shares in Units, $ in Thousands	Jun. 30, 2015	Dec. 31, 2014	Feb. 28, 2015	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2010
Fair Value Measurements, Valuation
Fair value adjustment of warrants				$ 1,152	$ 32	$ 1,161	$ 126
Common shares issued, net settlement of warrants exercised (in shares)						44,914
Warrants to Purchase Shares of Series D Convertible Preferred Stock
Fair Value Measurements, Valuation
Shares that may be purchased under warrant (in shares)										156,860
Exercise price of warrants (in dollars per share)										$ 7.65
Fair value adjustment of warrants						$ 900	$ 100	$ 5	$ 300
Stock warrant liabilities, fair value		$ 400						$ 400
Warrants exercised (in shares)						127,526		29,333
Warrants exercised, settled in cash (in shares)						49,410
Warrants exercised, net settlement (in shares)						78,116
Fair Value Assumptions
Risk free interest rate (as a percent)		1.00%
Dividend yield (as a percent)		0.00%
Expected volatility rate (as a percent)		48.50%
Expected life		2 years 8 months 12 days
Common Stock Warrants | Amended Agreement
Fair Value Measurements, Valuation
Shares that may be purchased under warrant (in shares)			11,298
Exercise price of warrants (in dollars per share)			$ 8.85
Fair value adjustment of warrants						$ 300
Stock warrant liabilities, fair value	$ 273		$ 53	$ 273		$ 273
Fair Value Assumptions
Risk free interest rate (as a percent)	2.00%		1.90%
Dividend yield (as a percent)	0.00%		0.00%
Expected volatility rate (as a percent)	70.00%		70.00%
Expected life	6 years 8 months 12 days		7 years

Fair Value Measurements (Deta34

Fair Value Measurements (Details 3) - Stock Warrant Liability $ in Thousands	6 Months Ended
	Jun. 30, 2015USD ($)
Reconciliation of liabilities measured at fair value using level 3 significant unobservable inputs (Level 3) on a recurring basis
Beginning balance	$ 379
Issuance of common stock warrants	53
Change in the fair value of stock warrants	1,161
Issuance of Series D convertible preferred stock in connection with exercises of preferred stock warrants	(1,320)
Ending balance	$ 273

Long-term Debt (Details)

Long-term Debt (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 31, 2015	Feb. 28, 2015	Jun. 30, 2013	Jun. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Long-Term Debt
Amount outstanding						$ 1,850
Loan origination fees recorded as debt discount				$ 64	$ 64
Notes Payable
Long-Term Debt
Gross long-term debt				13,996	13,996	$ 17,500
Senior Secured Term Loan
Long-Term Debt
Gross long-term debt				5,000	5,000
Senior Secured Draw-to-term Loan
Long-Term Debt
Gross long-term debt				2,000	2,000
Agreement | Line of credit
Long-Term Debt
Maximum borrowing capacity			$ 6,000
Line of credit, advances, threshold amount			$ 6,000
Line of credit, advances, threshold amount expressed as a percentage of the sum of cash, cash equivalents and eligible accounts receivable			77.00%
Interest rate at period end						3.75%
Amount outstanding		$ 2,100				$ 1,900
Repayments of line of credit		2,100
Agreement | Line of credit | Prime Rate
Long-Term Debt
Basis spread			0.50%
Amended Agreement
Long-Term Debt
Loan origination fees recorded as debt discount		41
Debt issuance costs		$ 132,000
Amortization of debt discount and deferred asset to interest expense				$ 11,000	$ 15,000
Amended Agreement | Subsequent Event
Long-Term Debt
Repayments of debt	$ 7,000
Amended Agreement | Senior Secured Term Loan and Senior Secured Draw to Term Loan [Member] | Prime Rate
Long-Term Debt
Basis spread		2.00%
Interest rate at period end				5.25%	5.25%
Amended Agreement | Senior Secured Term Loan and Senior Secured Draw to Term Loan [Member] | Eurodollar-based Advances | LIBOR
Long-Term Debt
Basis spread		3.00%
Amended Agreement | Senior Secured Term Loan
Long-Term Debt
Face amount at time of issuance		$ 5,000
Proceeds from issuance of debt		5,000
Quarterly principal payments		$ 400
Period over which quarterly principal payments are to be made		3 years
Amended Agreement | Senior Secured Draw-to-term Loan
Long-Term Debt
Face amount at time of issuance		$ 5,000
Period over which quarterly principal payments are to be made		3 years
Quarterly principal payments expressed as a percentage		8.33%
Maximum advances available		$ 5,000
Gross long-term debt				$ 2,000	$ 2,000
Amended Agreement | Senior Secured Revolving Credit Facility
Long-Term Debt
Line of credit, advances, threshold amount		8,000
Face amount at time of issuance		$ 8,000
Debt instrument advances, threshold amount based on borrowing base calculation percentage of accounts receivable		80.00%
Debt instrument advances, threshold amount based on borrowing base calculation percentage of inventory		30.00%
Debt instrument advances, threshold amount based on borrowing base calculation amount		$ 1,500
Amended Agreement | Senior Secured Revolving Credit Facility | Prime Rate
Long-Term Debt
Basis spread		1.75%
Amended Agreement | Senior Secured Revolving Credit Facility | Eurodollar-based Advances
Long-Term Debt
Basis spread		2.75%
Common Stock Warrants | Amended Agreement
Long-Term Debt
Shares that may be purchased under warrant (in shares)		11,298
Exercise price of warrants (in dollars per share)		$ 8.85

Long-term Debts (Details 2)

Long-term Debts (Details 2)	1 Months Ended		3 Months Ended		6 Months Ended		12 Months Ended		14 Months Ended
	Nov. 30, 2013USD ($)item	Dec. 31, 2012	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2014USD ($)
Debt balances, including current portions:
Unamortized debt discount			$ (64,000)		$ (64,000)
Total debt			20,932,000		20,932,000		$ 17,500,000		$ 17,500,000
Less current portion of long-term debt			(9,294,000)		(9,294,000)		(8,532,000)		(8,532,000)
Total long-term debt			11,638,000		11,638,000		8,968,000		8,968,000
Composition of intangible assets
Amortization expense			900,000	$ 900,000	1,800,000	$ 1,800,000
Estimated amortization expense
2,015			3,500,000		3,500,000
2,016			3,500,000		3,500,000
2,017			3,500,000		3,500,000
2,018			3,000,000		3,000,000
Buy-out of Royalty Payment Obligation
Composition of intangible assets
Gross amount			17,500,000		17,500,000		17,500,000		17,500,000
Accumulated amortization			(5,775,000)		(5,775,000)		(4,025,000)		(4,025,000)
Total			11,725,000		$ 11,725,000		$ 13,475,000		13,475,000
Useful life/amortization period					60 months		60 months
Buy-out Agreement with GMP
Other disclosures
Buy-out option period		90 days
Maximum payment allowed under the agreement in the event of a sale of the Company meeting certain criteria	$ 2,000,000
Buy-out Agreement with GMP | Buy-out of Royalty Payment Obligation
Composition of intangible assets
Intangible asset purchase amount	$ 17,500,000
Useful life/amortization period	5 years
Buy-out Agreement with GMP | Cost of sales
Other disclosures
Amount paid to buy-out all remaining royalties payable to GMP								$ 1,000,000
GMP Note Parties | Buy-out Agreement with GMP
Other disclosures
Face amount at time of issuance	$ 17,500,000
Notes Payable
Debt balances, including current portions:
Gross long-term debt			13,996,000		$ 13,996,000		$ 17,500,000		17,500,000
Notes Payable | GMP Note Parties
Other disclosures
Monthly interest only payments									$ 72,900
Notes Payable | GMP Note Parties | January 31, 2015 to December 31, 2016
Other disclosures
Number of periodic payments of principal and interest | item	24
Monthly principal and interest payments	$ 767,700
Notes Payable | GMP Note Parties | Buy-out Agreement with GMP
Other disclosures
Interest rate (as a percent)	5.00%
Senior Secured Term Loan
Debt balances, including current portions:
Gross long-term debt			5,000,000		5,000,000
Senior Secured Draw-to-term Loan
Debt balances, including current portions:
Gross long-term debt			$ 2,000,000		$ 2,000,000

Convertible Preferred Stock (De

Convertible Preferred Stock (Details) - USD ($) $ / shares in Units, $ in Thousands	6 Months Ended
	Jun. 30, 2015	Jun. 29, 2015	Dec. 31, 2014
Convertible Preferred Stock
Common shares issued upon the conversion of convertible preferred stock (in shares)	21,736,367
Adjustment to additional paid-in-capital, conversion of convertible preferred stock	$ 159,100
Convertible preferred stock			$ 157,379
Convertible Preferred Stock
Convertible Preferred Stock
Common shares issued upon the conversion of convertible preferred stock (in shares)	21,700,000
Convertible preferred stock			157,379
Shares outstanding	0	21,736,367
Series A convertible preferred stock
Convertible Preferred Stock
Convertible preferred stock			$ 3,000
Par value			$ 0.001
Shares authorized			3,000
Shares issued			1,200
Shares outstanding			1,200
Liquidation preference			$ 3,000
Series B convertible preferred stock
Convertible Preferred Stock
Convertible preferred stock			$ 12,547
Par value			$ 0.001
Shares authorized			5,805
Shares issued			2,322
Shares outstanding			2,322
Liquidation preference			$ 12,538
Series C convertible preferred stock
Convertible Preferred Stock
Convertible preferred stock			$ 40,836
Par value			$ 0.001
Shares authorized			14,750
Shares issued			5,819
Shares outstanding			5,819
Liquidation preference			$ 40,731
Series D convertible preferred stock
Convertible Preferred Stock
Convertible preferred stock			$ 41,496
Par value			$ 0.001
Shares authorized			13,844
Shares issued			5,410
Shares outstanding			5,410
Liquidation preference			$ 41,387
Series E convertible preferred stock
Convertible Preferred Stock
Convertible preferred stock			$ 29,500
Par value			$ 0.001
Shares authorized			8,754
Shares issued			3,501
Shares outstanding			3,501
Liquidation preference			$ 29,500
Series F convertible preferred stock
Convertible Preferred Stock
Convertible preferred stock			$ 30,000
Par value			$ 0.001
Shares authorized			8,474
Shares issued			3,390
Shares outstanding			3,390
Liquidation preference			$ 30,000

Stock-Based Compensation (Detai

Stock-Based Compensation (Details) - Jun. 30, 2015 shares in Thousands	itemshares
Stock-based compensation
Number of stock plans | item	4
Expiration period	10 years
Vesting percentage on first anniversary of grant date	25.00%
Remaining vesting period	3 years
2015 Stock Plan
Stock-based compensation
Shares reserved for future issuance	4,500
Employee Stock Purchase Plan 2015
Stock-based compensation
Shares reserved for future issuance	450

Stock-Based Compensation (Det39

Stock-Based Compensation (Details 2) - USD ($) $ in Thousands	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014	Dec. 31, 2013
Number of Shares Underlying Options
Outstanding at beginning of period (in shares)	5,657,000
Granted (in shares)	585,000
Exercised (in shares)	(870,000)
Canceled/forfeited/expired (in shares)	(33,000)
Outstanding at end of period (in shares)	5,339,000		5,657,000
Exercisable at end of period (in shares)	2,857,000
Employee stock options
Number of Shares Underlying Options
Outstanding at beginning of period (in shares)	38,678	4,001	4,001
Exercised (in shares)	337	55,908	55,908	0
Outstanding at end of period (in shares)	27,551		38,678	4,001
Liability related to share-based compensation	$ 110		$ 150	$ 15

Stock-Based Compensation (Det40

Stock-Based Compensation (Details 3) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Allocation of stock-based compensation
Stock-based compensation expense	$ 4,406	$ 364	$ 4,779	$ 738
Cost of sales
Allocation of stock-based compensation
Stock-based compensation expense	144	9	158	15
Selling, general and administrative
Allocation of stock-based compensation
Stock-based compensation expense	3,199	263	3,477	529
Research and development
Allocation of stock-based compensation
Stock-based compensation expense	$ 1,063	$ 92	$ 1,144	$ 194

Stock-Based Compensation (Det41

Stock-Based Compensation (Details 4) - USD ($) shares in Thousands, $ in Millions	1 Months Ended	3 Months Ended		6 Months Ended
	Jul. 31, 2014	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Stock-based awards to employees - weighted average assumptions used to estimate fair value of options granted
Granted (in shares)				585
Employee stock options
Stock-based awards to employees - weighted average assumptions used to estimate fair value of options granted
Risk-free interest rate (as a percent)		1.82%	2.03%	1.78%	1.98%
Expected volatility rate (as a percent)		58.70%	56.60%	58.20%	56.60%
Expected term		6 years 1 month 2 days	6 years 29 days	6 years 29 days	6 years 29 days
Vesting based on performance | Stock options
Stock-based awards to employees - weighted average assumptions used to estimate fair value of options granted
Granted (in shares)	1,200
Cumulative compensation costs				$ 3.8
Vesting period				4 years

Commitments and Contingencies42

Commitments and Contingencies (Details) $ in Thousands	1 Months Ended	3 Months Ended		6 Months Ended
	Jun. 30, 2015USD ($)ft²	Jun. 30, 2015USD ($)ft²	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)ft²	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Jan. 01, 2014ft²
Operating Leases
Rent expense		$ 100	$ 100	$ 200	$ 200
Future minimum lease payments under noncancelable operating leases
2,015	$ 464	464		464
2,016	455	455		455
2,017	422	422		422
2,018	521	521		521
2,019	539	539		539
Thereafter	1,118	1,118		1,118
Total	3,519	3,519		3,519
Purchase commitments
Purchase commitment due within one year	1,700	1,700		1,700		$ 800
Purchase commitment due beyond one year	$ 0	$ 0		$ 0
Facilities Lease
Operating Leases
Area of leased space | ft²	20,800	20,800		20,800
Optional lease extension term				2 years
Deferred rent	$ 46	$ 46		$ 46		$ 57
Office Space Lease, Germany
Operating Leases
Area of leased space | ft²							750
Lease, San Clemente, California
Operating Leases
Area of space subleased | ft²	37,700
Lease term upon expiration of the sublease	5 years

Commitments and Contingencies43

Commitments and Contingencies (Details 2) - Agreement with the Regents $ in Thousands	Dec. 30, 2014USD ($)	Jun. 30, 2015USD ($)item	Dec. 31, 2014USD ($)
Other commitments
Commitment obligation	$ 2,700	$ 1,825	$ 2,700
Number of payments to be made in current fiscal year | item		5
Minimum required annual payment of the commitment obligation, based on net sales of current and future products		$ 500
Imputed interest			$ 100
Period of time for repayment of commitment obligation from date of IPO	60 days

Variable Interest Entity (Detai

Variable Interest Entity (Details) $ in Thousands	Jun. 30, 2015USD ($)director	Jun. 30, 2015USD ($)director	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)director	Jun. 30, 2014USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Variable Interest Entity
Cash payments for the acquisition of certain assets of related party				$ 15,000
Charge to other expense relating to deconsolidation of DOSE		$ 25,685		25,685
Carrying amount and classification of DOSE's assets and liabilities:
Cash and cash equivalents	$ 104,144	104,144	$ 2,116	104,144	$ 2,116	$ 2,304	$ 6,728
Property and equipment, net	1,859	1,859		1,859		1,950
Total assets	128,172	128,172		128,172		26,021
Total liabilities	33,381	33,381		33,381		29,546
Consolidation of DOSE's results of operations:
Selling, general and administrative		12,516	6,582	20,332	12,531
Research and development		7,339	4,422	12,579	8,804
Income tax provision					2
Net loss of DOSE		32,512	2,494	33,974	6,833
Consolidation of DOSE's cash flows:
Cash used in operating activities				(1,061)	(5,817)
Cash used in investing activities				(15,319)	(309)
Cash provided by financing activities				118,173	1,491
Net (decrease) increase in cash and cash equivalents				101,840	(4,612)
DOSE Medical Corporation
Variable Interest Entity
Cash payments for the acquisition of certain assets of related party	15,000
Intercompany receivable eliminated	$ 10,900	10,900		$ 10,900
Maximum period of support under transition services agreement	3 years
Charge to other expense relating to deconsolidation of DOSE		$ 25,700
Number of members of the Company’s board of directors who serve on the board of directors of DOSE | director	2	2		2
DOSE Medical Corporation | Variable Interest Entity, Primary Beneficiary
Carrying amount and classification of DOSE's assets and liabilities:
Cash and cash equivalents						9
Prepaid expense						16
Property and equipment, net						255
Total assets						280
Accounts payable and accrued liabilities						160
Liability to Glaukos Corporation						9,720
Total liabilities						$ 9,880
Consolidation of DOSE's results of operations:
Selling, general and administrative		$ 52	61	$ 105	120
Research and development		486	327	890	618
Interest expense		44	38	85	75
Income tax provision					1
Net loss of DOSE		582	426	1,080	814
Consolidation of DOSE's cash flows:
Cash used in operating activities		(838)	(201)	(1,134)	(428)
Cash used in investing activities		(33)		(33)
Cash provided by financing activities		862	200	1,158	$ 428
Net (decrease) increase in cash and cash equivalents		$ (9)	$ (1)	$ (9)

Business Segment Information (D

Business Segment Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Business Segment Information
Total net sales	$ 17,754	$ 11,099	$ 32,420	$ 19,348
United States
Business Segment Information
Total net sales	16,655	10,504	30,271	18,383
International
Business Segment Information
Total net sales	$ 1,099	$ 595	$ 2,149	$ 965

Subsequent Event (Details)

Subsequent Event (Details) $ in Millions	Jul. 31, 2015USD ($)
Amended Agreement | Subsequent Event
Subsequent Events
Repayments of debt	$ 7