GKOS - Earnings call transcript Q3 2020

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Operator

Welcome to Glaukos Corporation’s Third Quarter 2020 Financial Results Conference Call. A copy of the company’s press release issued after the market close today is available at www.glaukos.com. [Operator Instructions] This call is being recorded and an archived replay will be available online in the Investor Relations section at www.glaukos.com. I will now turn the call over to Chris Lewis, Director of Investor Relations and Corporate Strategy and Development.

Chris Lewis

Thank you and good afternoon.

Glaukos COO, CEO, Chris are Joe Burns; today and Gilliam; Calcaterra. me President Tom and CFO, Joining

Following our to prepared to to we questions. remarks, that one we will ensure request follow-up. time open question ample and and limit opportunity you address one questions, To everyone’s yourself the call

as implied to filings or factors. risk SEC our by Therefore, which information all operations. These recent difficult impact forward-looking actual forward-looking press of developments predict well about you activities, and have our to and and sales, on are expect, statements These and into of about in based current risks, we current and facts our Review on get and products, subject made and the our our from are more commercialization cause are events future our position, statements plans, queue. environment, our will are things, expressed prospects to many our our products, If you objectives, of pandemic expectations occur on international pipeline technologies, and may statements. relating are control. condition all they than still operations, Please about call future results statements. other strategies as business uncertainties of materially include address that this the or may additional questions, market anticipate, affecting may statements of or and statements results our U.S. of business us back beyond COVID-XX note which factors competitive other that believe efficacy regarding, the financial events our operations the those expected to historical release for or differ among future and our efforts, the these today’s

You’ll find at our the documents Investors in of www.glaukos.com. section website these

financial the reconciliation we most press an release today’s a period underlying the for measures from during basis. Tom With of measures We that note our certain period. greater analysis comparing these that operations on particularly of and into results call, results to Please believe website Investors President in turn adjusted is financial when more transparency measures, comparable complete Glaukos ongoing will in these that, including discuss of CEO, section GAAP please can our to also financial and the their Finally, Glaukos’ refer non-GAAP to over results available will directly I call Burns. measure. to earnings facilitate tables

Tom Burns

pleased of joining that quarter Good Thank I you, that with am glaucoma for report across exceeded health you our today. franchises everyone globally, and Chris. to net third continued into corneal momentum afternoon to us and sales thank $XX.X million expectations October.

the reflects steadfastly who the forward times. resiliency, these quarter to this unprecedented employees of during customers continue dedication our and world around and performance Our resourcefulness move

revenue franchise disciplined strengthen commercial performance. strong but vision. accomplishments quarter expand to across expertise current performance not the while trends, and continue Photrexa we gross record opportunities we our for also expand our and by continue leadership to only we evidenced market through U.S. activities has sales continued development preclinical W, that sheet. inject we executed starts Photrexa numerous pharmaceutical initial pipeline our plans, corneal iStent strong in of fortified balance glaucoma, quarter. integration, margins, advancing health health One, with platform. initiatives execute U.S. generation the next our number to beginning strong MIGS on our position Two, the R&D financially, market five, inject expansion market market-leading not Our sales of in recovery broader and the this our proprietary our Four, it illustrates preservation continue strategic the spending during towards capabilities, third corneal addition retina. our progress effective ability but to solid a our operating third advanced significantly to also in only environment, the with reflection make development we Consider to we ongoing the the of and quarter XXXX. our response is market addressable of a we new adding improving record believe product Three, and launch And industry-leading

ASCs COVID-XX, Let’s remain which as governmental and vary restrictions surprise including that service performance, the site dependent first been related there I is commercial encouraged more have recovery of a withstand offices, focus on near-term are how time, trends headwinds elaborate same a later, the patient-related the and for no navigating in ophthalmic normal. At U.S. on localized the efficiency and will Joe and and both procedural abroad, physician by to our hospitals can limit the and come from system how trends dynamics should to much and persist therapies standpoint. COVID procedures. on but practice new the related

second particular as move U.S. a in in third Europe, customers any what care the response we or health We and accordingly monitoring of the are impact systems wave and to our on be governments forward. and appears potential

Things the franchise to from strong a practices October. not trends the market dynamic efficiency their and yet improve the the new Our as operational quarter perspective, are normal a during to experienced throughout and stabilized encouraging recovery U.S. demand into COVID-XX patient but continue glaucoma where back related restriction were third increased quarter, eased.

tools are supplement regaining for professionals and our to access force customers. activities virtual Our well-received sales these sales into accounts, and physician field and continue with training slowly we

proficiency to opportunities our identified manage ongoing ensure ophthalmic part even have to procedural We cases practices ongoing proctoring outcomes. collaborate with optimal virtually of by as and to commitment surgeries

inject where early and combination to code October, for a of We cataract in the codes initial as CPT Surgeons customers, items predictability the to improved forward. are each It MIGS with the enhanced current customers launch, that offer. procedural going as team’s announce Among the Category an for processes AMA, iStent for I early supersede and using commercial to the CMS the business added our followed by navigate including move new working X very – and our the AMA AAO confidence where implantation I real-world and stent execution introduced globally these ophthalmic surgery. iStent already approvals discussed from streamline in X W, deliver to and response in predictability. to product official, community’s technology. with that what it CPT to operations have MIGS pleased CPT W the upon ophthalmic commercial to look creation iDose mid-August, inject the reaffirms for designed in new begun the optimize our surgeons October. am of iStent of Thanks of were forward, The benefits positive inject many and offer with of platform we meeting our while utilizing the And platform. U.S. are hosted U.S. the commonly select category highlight iStent permit. and W to the encouraged full-scale from in commercial prospects visualization solid a is stand-alone inject and iStent technology. W inject inject feedback next-generation plan visualization, forward closely this device approved W and our next-generation a in who heard mirror that to same this procedural may iStent panel this successfully regulatory efficacy the and launched by editorial related builds our already markets such and inject we proven we most surgeons established have U.S. we’ve results Germany, important creation is in expected, remains we early as or As of foundation remain perspective, designed launch safety

key to in markets. experienced glaucoma we our the access initiatives. – regulatory of markets, including European key countries, approval well driven many adds United have quarter, including European Pacific launch franchise in positions to during iStent Japan India We indication international also inject recent recovery recovery number glaucoma or our and in and revenue W our franchise Australia, international across key a and our the iStent Australia. various to continued for inject long-term growth, iStent market in approval broad-based that Similar trends broadly States, recovery by us a in in of stand-alone of and strong a begun also Asia third international accomplishments more many progress This

Looking trends as recovery these commercial developments perspective. more corneal experienced revenue monitoring and to and have recent from Nevertheless, the closely. a quarter we seen our market execute third access across franchise, COVID-XX integration ahead, emerging are to milestones, are Within on during we strong product development Europe initiatives. development strategies restrictions the invest we market sales, health continuing related international we to and infrastructure corporate also our marketing our in continue

the at of ahead is targets commercially. cost our deal, on time more the the announced plan important but progress are of we savings We

the across stabilize We dynamics have condition diagnosis successfully drive broadly increased and of health community, advance the reimbursement procedure. optometric the professionals cornea Photrexa, and ophthalmic associated on awareness debilitating this continued important iLink train our with of to keratoconus

starts resonating. As an quarter in introduced Photrexa sign we’ve United sales third highs encouraging saw and progress, record new and the of strategies evidence of programs in our the that number are Photrexa States, our

the we in of mark the the performance this opportunity acquisition. stages approach we with potential, of X-year us organization’s excited early the unlocking are While and as combined encouraged the ahead full about remain of we

previously for in MicroShunt iDose These infinite the long-term a coming and robust our XXXX, first over cadence our respectively. that we our sustainable programs years to time. in the growth opportunities the targets in to believe XXXX, and on FDA over in the drive XXXX, of new potential Moving approval pipeline, include significantly Epi-On PreserFlo and half we introductions market addressable iStent for have of expand product TR anticipate late disclosed planning our

prior on and for We the enrolled calls at considerations COVID have fully actively we initiatives discussed versus to in enrolled clinical trials. the response our length implemented

for the strengthening here and We October, by analyze time evolves continuing to continue the expectations these and United but as we particular and States. in unique circumstances, we’re COVID-XX encouraged line monitor navigate iDose, are in in situation trends to September enrollment

early We ab-externo in an quarter first launch surgical U.S. our and of anticipated preparations advanced of launch during a this also glaucoma Preserflo commercial We preparations the implant XXXX. the in an Pharmaceuticals’ potential for approval half Santen for opportunity commercial ahead commercial promising management. remain late-stage third MicroShunt, for of elegant

announce the commencing Santen Australia Santen we are agreement New in the approvals expanded forward to In to and coming we appropriate addition Presoflo We secure recently for our in to these in distribution years. and following over look with rights U.S., with to regulatory plans exclusive MicroShunt exclusive Zealand. excited commercialization sales the the agreement distribution markets

programs, these Beyond also advance earlier-stage invest medium-term to R&D and including and key in continue our retina. near eye we in to opportunities, dry

development in we’re excited these the we stages, remain preclinical opportunities within are with progress demonstrating these programs. While initial

expanding our the during the enterprise programs expanding In significantly our COVID-related a realities. provide priorities COVID-XX by pipeline to pandemic play systems, advancing the commercial and our ensure Glaukos on offense Our strong plans. addressable towards sheet to time. supporting balance has progress ability strategic markets we expertise, financial on to are our this, our we flexibility we upgrading our dynamics over the and out commitment the executing are enable by with teams key making as as built to infrastructure, our advance have R&D clinical of reflects our programs core global strengthening adjust pharmaceutical transform fundamentally To they remain the to our summary, progress us rapidly

for care we’re leader confident are as will drive growth the with forward and long-term Glaukos unique profitability. vision making today a We that potential strategic tremendous investments

our will quarter financial So I with to results. call discuss over third that, the to Joe Joe? XXXX turn

Joe Gilliam

Tom. Thanks,

well As Investor I in and forma be which later basis rate sequential GAAP headwinds. quarters that sales exiting for was COVID-XX-related summarize my or averages found Overall, on be second during to third daily non-GAAP our the to XX% net prior will approximately performance million, reconciliation, remarks. will exited approximately were non-GAAP review the encourage quarter revenue can release the of discussing our today’s despite a Relations a pre-COVID of XX% Glauko’s quarter as recovery growth XXXX XX% press performance financial quarter I versus of we of a with each section the XXX%, $XX.X continued versus third website. you of run reminder, and April trough. pro the in prepared our approximately GAAP the our ongoing reflects representing which as

international approximately which specifically, third Now franchise our dynamics, Australia. were million, quarter recovery our overall pricing. growth combination glaucoma turning business market third million, representing of COVID-XX impact of glaucoma XX%. COVID-related our sales the glaucoma and XXX%, sequential quarter our quarter million, to led $XX.X our were XX%. reflect landscape growth quarter Europe a $XX.X sequential net The the broadly approximately U.S. stable representing was In corneal $XX.X sales but by to and believe competitive has U.S. stable of sequential of franchise health, glaucoma varied by third sales growth delivered we Internationally, of representing in

sales The third for Photrexa record record U.S. quarter of a by performance $XX.X starts. quarterly million Photrexa was driven new and U.S.

As Tom each earlier, our we in continued progress of noted October see across commercially to franchises.

While headwinds in visits encouraged performance business. Having be we to still we consultation that, to of and our or as of the term terms at our COVID said solution. as call, facing toward key new a the that resurgence appears of capacity, many we the widely therapeutic of P&L. operate cautious and overall practices market available ability the fundamental are this full ahead of vaccine remain near surgical our by the patient for are remainder real-time prepare gears of such, we experiencing markets unfortunately a Shifting now on recognized

margin the mix. XXXX. associated the the increased quarter XX% Our XX% in as sequential related inventory our third production benefits and improvement quarter build same driven to that the adjustments The was accounting. second substantial quarter margins of non-GAAP corneal reflects the in revenue favorable acquisition COGS versus gross approximately of iStent noting to well the and recovery in of XX% in Avedro inject health with XXXX include adjustments as is W non-GAAP worth overall by initial It

the the expansionary expect approximately quarter. XXXX, would XX% we third the warranted restore $XX.X continue We Our disciplined in forward. third second non-GAAP up to reverse a remain operating quarter overall to initiatives as to continue expenses the cost-saving but compared and of going temporary sequentially in trend quarter were that million recovery spending

operating up quarter quarter, $X.X with X% Our of were million, million, in third $X.XX a the the expenses quarter non-GAAP third compared SG&A loss R&D non-GAAP in compared were finished third million sequentially net and up approximately loss approximately the XX% share. and second non-GAAP our expenses the sequentially non-GAAP $XX.X second to the or million diluted to $XX.X quarter. We $X.X of per quarter

substantially million X invested loss plans. capital our third looking We in our we for of in expect the capital net GAAP quarter was the $X.X share we of move quarter. $X.XX to diluted over X or the ahead, expenditures quarters Our $XX.X approximately And XXXX. facilities next to per with million increase expenditures as forward

at cash, of XXXX. September quarter equivalents, cash of second had end As XXXX, million restricted of compared investments XX, cash short-term $XXX and we approximately the to $XXX the million

Finally, turn uncertain. as to of does keep now back we things for such, a degree will few will as we the Tom control. continue extent closing outcomes sensitive have more to the which suspended forward And guidance the pandemic to our believe any the this duration remains we heading remarks. for that, fundamentals path COVID-XX for I potential than With quarter business of fourth and for remain XXXX resurgence it and of a range into

Tom Burns

actions priorities rapidly Thanks, COVID-XX proud advancing conclude our pandemic of I acknowledging how I’d changing while throughout a like the taken am in has organization the of by to environment. key our Alright. strategic Joe.

While it investigators, response have to plans this persist leaving term clinical only and over confident uncertain, is customers, execute I suppliers have a well prepared well with relationships that going are helped may past am forward. our possible the quarters we executed the the as into pandemic that will strengthen several XXXX, leave we us positioned our employees and plans company. near on

franchises remain glaucoma, strategic to we leader retinal unwavering and we disease. a create and our fundamental health vision near- commitment business long-term care across navigate While of corneal and with moment, our on focused prospects disruptive the this growth

that, So questions. I the open to call with Operator? will

Operator

your Instructions] the question [Operator Blair. Brian from And first comes of with William line Weinstein

Andrew Brackmann

Maybe and saw of categorize afternoon. specific the can of of be patients across quarter Hi, sort bit volume guys. in the of backlog board, little patient today. This demand? the reflective the Andrew performance is Good the or catch-up glaucoma quarter, a you start more current sort in Brian of specifically, more first, on for sort more nice to but the on U.S. in we

Joe Gilliam

It’s Andrew. Thanks, Joe.

expect They as certainly the out with practices patients already with on right? you’d those are surgeries was you’ve as you calls, the been gate consumed things the recovery backlog, in already think who quarter and folks like expect, probably prioritize were that. more who had partial other might a from, and consistent queue, done there what shift in I on of the hearing

As move start forward more patient balanced a new and much the mix progress through, we to quarter into demand. of third that and between see backlog you

in back from certainly many than think, more quarter. the much normal we standpoint second I we ways, So that were are in to

Andrew Brackmann

that great. of years Okay, little shifting follow-up, gears couple you bit launch. launch? still set about us recognizing of still maybe And around level a ahead of sort market Thanks. then commercial and and initial thinking opportunity out on a from to a that then away you’re a reimbursement how scale-up as Can you’re couple efforts that penetration, iDose sort just of of years

Tom Burns

be Andrew. answer I’ll that to one, happy Yes.

about We for appetite is fully that the mechanism we occurs that and informed. – recruitment And favorable continued can very drug look use we’ll investigators the with that the noncompliance really the very, seen for pleased need delivery to in resurgence respond drops. an the the And potential ubiquitous question sustainable continue for system. September clinical winter delivery certainly, with existing we no keep of there strong uncertain drug excited long-term, at this remain in investors topical There’s traction a fall and the as of trial we’re So monitor and the of recruiting. these our October we’ve in COVID-XX. months reengagement with we’ll

Allergan, in noncompliance be setbacks with of some advancement product that DURYSTA who that continues response care a a experienced in the has seeing labeling an patients from glaucoma. of the initial need the perceived as treatment We’re where in launch to to for

promising One reduction the pressure in will of things the Phase I’m the in will will J of about we of think is. clinical of And value I reduction in what about economic position and with by hand think some see the the this that look during this before, reimbursement shown market. drug talked you Xb When share product, intraocular a the XXXX, is Phase predicate which Xb the of convince device. a you and the for has tiny numbers technology would about predicate – promising the really trial have we on And the the DURYSTA of you the sustainability are established that to most very towards the from is study hearing our sustained we And how glaucoma burden. in product. that’s for results excited for as predicate code we been treatment terms the to in pricing for we’re to iDose you, provide device of ask and I the be as for

sustained ability to new addition promise to may now, very a So DURYSTA opportune orders from a is that clinical it, magnitude imagine release into iDose, difference over do which DURYSTA, see realize we sustained price capability think on release you X and a upon that of the what product months, product if see, like study providing very, marketplace. of you which X presumably about depending showing when you you think can revenue-generating have we to of order initial the in

shepherd CPT also for have is we’ll launch be And very CPT able for formal iDose payment be we product professional we from sanction forward when the be after iDose. we’ll stand-alone able able out product. fee to our assignment III an were commercial APC means position launch to committee in means and to and for move a a to opportunity payers. Category a quite to quickly encouraged have the that to that it So our code advance appropriate coming what of AMA I’m by That

reasons, these of us for significant iDose a all extending opportunity represents for moving and than forward. our opportunity more So,

XXX,XXX before, combination cataract in upon patients with X about now appropriately talked with our moves inject launch. million – nearly have it TAMs iStent from we or patients to surgery As annual approximately commercial

We’ll happen surgery the to have are use of and will not some the a happen. surface Now will have with other shown care. topical a patient distinct just with in who most disease and shown overnight. intraocular call who where of be forward issues happen to with ocular happen It to full to product iDose the It topical mechanism happen And with this disclosure, in trade cataract patients procedures. will with and It market will happen continue will will who that extensively and advancement combination will patients It noncompliance. medications. patients move preservatives as with medications. allergic used

subsets become patient be an to these iDose advance for the opportunity of cumulative able marketplace. into accruing to All will us and

Andrew Brackmann

was Thanks That the for great. taking question.

Tom Burns

You are welcome.

Operator

the from Marcus Robbie comes question line with next of Your JPMorgan.

Sarin Murlidar

third training volumes? Hi, to the throughout so able the new you’ve the up Could cadence got for anything to that’s you’ve how of something of you Robbie. Sarin for of kind share then Is that semblance physician on on quarter color a recover kind the quarter? you been as the Thank about more to returned could normal in here that’s quarter. evolved, pick something

Joe Gilliam

start and add he I’ll can anything, to off, It’s Joe. if Chris wants that. Thanks. Sure. on

that trends of more growth from doctor a time. a expect around some I bit the about experienced a with expect, quarter, more and can think as the bit a come we little the October, training little the of has that into counts restoration in alongside might and market certainly, that new perspective. we of the talk that slowly things over you recovery with access comes context in And of you’d

new third pleased dynamics. number have Certainly been new in the encouraged the exceptionally throughout pandemic. quarter, creatively were on Photrexa new for doctor We starts the the by side. were with we So of health of training corneal our opportunities teams pursuing restoration the

the going certainly, perhaps with months. more of into the pleased COVID-stable were coming the there things fairly obviously, in were than the think trending. course we’re quarter, here over where we a were But I environment much we trending third So in well,

Sarin Murlidar

Great.

pick clarity quarter Just Are right doctors trying have terms evolved a seeing competitor trends now? these as in might on follow-up. competitive products how views? of up? new volumes quick Any anything through you the Are

Chris Calcaterra

Sarin. maybe for are true just stable would Calcaterra. Chris was us positive Everything to this the a – is said Yes, QX. slightly This past from competitive say things quarter that in I it for And part, largely that we in remains large as standpoint.

Sarin Murlidar

you. Got it. Thank

Operator

And of comes your Larry with Biegelsen Wells next from the Fargo. line question

Kevin Farshchi

Good afternoon. This is trends you on procedure Kevin here. the wanted in quarter. to Congrats I on saw nice just October. the a minute spend

upfront that from You behalf expecting different? in are curious or to some I’m QX for continued said and QX. very robust. pre-COVID, you to you is of of at QX that headwinds or then way about kind COVID, run-rate, think you And mentioned on driving big picture be October, obviously to your improvement something encouraging. right if step-up momentum which see QX you continue also is versus XX% And in that’s a then October cautiousness the the exited

Joe Gilliam

Joe. Thanks, going question. It’s Kevin. ways. to I’m in two that answer Great

were of the a thinking now. break that of versus running average, we’re users sort account to to about way their on the from still next practice think and things is then primary XXXX regardless translate in really bit market normally, From ability have their normal, seeing one at the XX% to right, average two the that they was And XXXX. you call I into operate you components. the in on the First, going average whether it I’m down our into how throughput, Obviously, them practice channel the MIGS front, and first little standpoint, one variance Obviously, it. there’s to and there. about and checks the of a started suggest is here market

and you about considerations growth layer then for have factors really think are to is MIGS. the growth what second The

category at talk throughput this doctor prior terms MIGS that what the questions getting that obviously down for variance are given into we of it new – slowly. trends expected starting And overall new those of we versus and We’re the of drive the have would Photrexa to starts, specifically. we in the as year about training, back but things one are would the COVID are coming on

think talked success in starts So given certainly we’ve isn’t new not net-net, MIGS I context had that in practices the the that the the in is since XX% down of about Photrexa in these keratoconus Avedro full market throughput probably the all acquisition. we of and

think for when what was at on pre-COVID of the that about you I Now us, we said the March XX% quarter exited levels.

for actually course of those the trending our from perspective XX%. In quarter, I U.S. think was October to growth areas flat down three versus third the we between October, down get business. month of sense levels, bit But glaucoma the franchise year-over-year the a break about over the XXXX. of we the as went closer it little into makes we essentially probably were sort a of and more think year-over-year as it to in the

are a of tailwind the Tom and bit of the That W month bit compounding October. a in of probably there launch that quarter, there, to especially variables the some talked September had out Now notably earlier. headwind the most to a third

all XX% you of standpoint, rate – if think roughly from that probably that’s normalized we’re about year-over-year a a I together, run put at today. down running about

quarter On the of quarter, an the exit over that the for mid-teens a over the course international course grew glaucoma the obviously, very health, rate, really and course of saw side, similar, the over October. exiting we and October the of the going at into October quarter similar of and trend corneal mid-teens as month

I And year. in quarter certainly is we up-to-date that on Now if the they third the about say is necessarily there’s our over selling The think were forward COVID the few we weeks. would this of trends a the margin, provide and that, November challenge expectation on challenge obviously performance going in could information of those when and not is I this hold year December really versus resurgence few days less patterns given and than our as will we added seen to the past want that business. it’s last quarter we’ve the the year

you So when models in your quarter to things XXXX. those and setting about factor the thinking for you’re all fourth of have for

Kevin Farshchi

the just competitive of My to on results Super couple My just sense for on a of landscape. Thank over helpful, Joe. time. the become landscape. that the to benign gauge the reaction I pieces wanted follow-up to that kind continues you more answer. is it from of just is your

So know call. kind line recent I expectations? year? remain sense is this the do a headwinds Ivantis reimbursement bit have for next a conference is you and And any from trial. And piece Thank going expect little Palmetto Do what me. you. to first less – there of know time Omni The you is LCD the third there. any don’t you kind delayed it it, change? you that’s for the you it’s but can seen since say second on what I optimistic of get the have

Chris Calcaterra

Kevin, over going your is it this to Chris. Tom third first Hey, hand to two, then the I’m address for question.

relates the it Omni, had than fair I it’s past. in seen say we’ve they As to to momentum less that think

As edit effect you went the know, into July. in

– the the device. with advantages the the use leader to continue of and that terms We me, that’s that product, in ease or advantages edit. safe, of We’re think our it tissue-sparing sparing excuse being non-tissue sell efficacious very of and happy MIGS we fair. of a And

the And to In September because clinical nothing that last any out but points, terms a of have. this to their on call that for commentary make they comments, expected And a opportunity was the follow-up on Monday. That their was parties clear, in discuss opportunity period Saturday, interested be LCD had that more an was situation, that draft the of that points pandemic. than to X. to meeting, we the they COVID the X, for the that extended came there Palmetto data discuss might

We’re data. clinical as and really the such they’ll in XX% There’s lot to out not at a come such can MAC Palmetto, final we draft that but remain it’s following which that much surprising that Palmetto, increased an but are this in come out been we roughly of covered this. not this point, LCD as the due when utilization diligent would not fact a there sure a do of draft not has lives with with

and see. wait we’ll Tom? So

Tom Burns

the litigation. happy Yes. I’d be to cover

prepared and March into months So a confident it would rulings have trial resulted And up. you on delay what going motions currently pretrial of for well of we’re and quite But I’ll trial. will say Ivantis, X, ask XX-Qs is next you to today, there not of prepared And I several to And what consult potential been been tracking as that think confident have we there, the Glaukos. March in here fall scheduled that exchanged may many depend COVID But year. information. coming whether trial in we’re The just any well we’ve or favorable that further have the resurgence, which speak trial our into is again, is and XXXX. for are see there we winter I going we trial trial. into into with

Kevin Farshchi

Sounds great. Thanks everyone.

Operator

with Stifel. the next of comes line question Jon Your Block from

Jon Block

but you here, math guys Joe, around afternoon. initial the was $XXX some real-time U.S. for glaucoma Good guidance guys. million. Thanks

done year-to-date. $XX You’ve million

let’s of million to this obviously numbers. you might Obviously, over say about deferred. You million. what the period being for XXXX them $XXX pushed they think procedures. us and recapture so you put don’t Those can’t have my about go these Of away. $XX or million the off forever. rate $XXX So help guys get talked ends COVID can time? that are just They up year, gets But

about in help your $XX at that into think a us true with bit a of majority little number high we And that on-boarded ‘XX? So a the maybe ‘XX just million math? P&L or vast is onto level – do

Joe Gilliam

Joe. it’s Jon,

before do a glaucoma $XXX we shy did question now. of of just and I’d we’re U.S. where our I you all little terms I And I the Look, a which way to million, heard me that think really is, through address for little it in for XXXX, can go may of at clearly bit, thinking go franchise of Microsoft I kind directly. need the that right last to think Excel right? send your you about back

normalized and running flat we’re in call it and a normalized right now, about standpoint to that you it on basis. neighborhood down probably think and a If from somewhere here XX% of

you’re us we do length our pandemic, of others have to pandemic-related from and months the obviously, the where handful the and of our control here in we course considerations on there. on fundamentals the a from we with things that we going the and around feel have or of But the a the myself can the are over products hearing pandemic that And lot things marketplace. individual XXXX What that of is next more and Tom, views the the over control Chris, don’t go depth into has certainly about execution so underlying any pandemic, the might good here. the of you

Jon Block

might Okay, that. pivot, for fair can think Maybe with this enough. on And offline to Chris, I be just you. one I you follow-up

CPT on pushed want just then I mind effect pro going Jan the X, for did the also, I XXXXT is On And us. guys. committee, that Thanks go to us that facility? or talk to mean, fee inject, on XXXX? into Cat or into Were you Cat mean, AMA you some I got to maybe hoping III the giving don’t it XXXX? if pro clarity, you the ed

Tom Burns

Yes, actually take to going is that I Tom. Jon, am this question.

meeting in usher And working And AMA society. we’re in, came what CPT of were in October. with number able that with developments were so of to the a out conjunction pleased there we the ophthalmic favorable with committee

year, we what’s this be code Category on the is a more eventually promising next formal move That into will procedural stent. Category June So this for Category bypass we a important full I will robust is trabecular real III code of first which effective launch. the based III Category here think fee approval use procedure, that was of us And guess stand-alone and iStent will of I. of advance the which perioperative in infinite into a as be III give development

promising months. approval approval to the several seek subsequent especially the with next to reconsideration over the will and prior of LCD that’s inject iStent course infinite iStent because So MACs we

very got. what promising That’s a that’s we development. so And we were seeking and what

looking iDose. of were code also We Category formal for approval for III

mentioned the will earlier, a professional is for I of a established And have going that year. iDose to itself fee this next it’s be As a combination and about of product What’s we iDose. towards will like to really and that’s us approved And be which option have then, driving CMS. for effective favorable development codes, to paid future to with in I which of the remember the is and J-code, too me allows carve-out this what appropriate we two well I course, in June separately business as been progression. fee to glaucoma important the because the is therapy use modalities full using once treat stand-alone have have we achieve as multiple

opportunity for do advanced for drug I And predictably, these so the what we’ll more to introduce categories. prosthetics the XX% And stand-alone appropriate in by will process, professional teams devices what we combination we with bypass procedure. we expect, surgeons fair for for in procedures, facility in for a there and as treatment adjustments to our to financial a widespread advance combined which, for pain a likewise, What be construct will XXXX. the prescriptive transitioning impetus as work – effective committee the assures professional cataract financial this national is procedure some would procedure. provide CMS beginning and these payment of subject I, the realize continuous with that both the structure as XXX% we Category risk expect you to are side. and use lower robust are payment positive And does could to us fee payment will for that will trabecular fee most codes, RUC then APC the they the for work clinically approval so believe combination monitor stents. to iStent first of both fee capable provide both payment outcomes a the already for we device negative, having an That the professional infinite iStent. variety and it APC believe more the And are for I’ve while January the the to And the moved to Category is stated, two in of can we code be be physicians surgery patients RUC delivery who that and of get envision, for

Jon Block

Tom. Great. helpful Very Thanks, color.

Tom Burns

You are Thanks. welcome.

Operator

Your Cooley of next question with Stephens. the from Chris comes line

Chris Cooley

not we also of done positive sure just corneal shift ESCRS, really keratoconus. thank improved which familiar the for you get and am think could out But taking a afternoon when there Epi-On, only on you that’s was those here. Good the little with Coming custom pulsed are I the some for questions. with papers gears bit cross-linking heard we had data and of Maybe those presentations. guys supply about that testing we

and results quick a got strong a has help us pull-through? funnel of on United again been one, Photrexa So I us update I’ve this follow-up. little kind record built here bit a And what was how the back help come quick States. with maybe about with And the could hoping you to very thoughts us, think in on and just help COVID-XX sales quarter third your Epi-On affects kind of maybe similarly, that

Joe Gilliam

of pull-through in that Photrexa taking in now Photrexa sales ultimately see all start yes, and and starts In quarter, to new sort putting broader over the the been terms continue broadening from efforts build in it’s trends the obviously, our States. base let United while. Joe. this see pleased, the and and benefits we’ve a of in been upon about Hey, XXXX, the if Epi-On think for we fundamentals business the now of Maybe our driving here Chris, to what it, we the combined starting synergy have guys of and reverse the result. there. will organization Really, I you and that then diagnostic some late the to with we place were of behind building the And of since the things that’s

in record third the not the quarter Photrexa in heard quarter volumes another well. dollar remarks, of but the Photrexa So starts new growth during sales Photrexa number of third have you the if in only record U.S. prepared as terms robust here also of saw and saw a

that Tom that to have where at realize do franchise to front. on and Epi-On? of about taking in Chris, is or want good the front you been really feel value talk we us So the we efforts about that

Tom Burns

Yes.

since to have the has well a integration phenomenal I we the like I me think would say success. one had that – integration as just to been

come quickly. together have We

our and we then we have had pulled headwinds even impact, together I resources marketplace, as face in with have expect more think dramatic these we COVID. we the would

the commercial promise with combined I early very, So very of businesses. am pleased the

And for As another far represents are we emerging us. Epi-On opportunity kind incendiary of we as where Epi-On, at. pleased are really

lock the study, clinical this that position now a we in trial and a weeks. having the Phase several been of over and are next be last basically go data doing the to X we to finished with we year we – have As will that the

where hopeful a even of in very single-site ranks for keratoconus step that we will And be to Epi-On. patients. to are be undertaking is able many And expect of of XXXX are for that I so examinations generation am And present into from in surgeons hopeful the in penetration that, data review. next as I these studies, your see data the will independent as we very, drive further Epi-On Epi-On really we encouraging us

Chris Calcaterra

we And team little in thing certainly, reimbursement. color is the just mentioned I integration job on not ensuring a But market is terms will of good Chris. have And access fantastic the done our add this we has gone execution. with well. a Chris, one have

standpoint. on worked has off. XX% We’ve really with this a paid There initiatives about OD payer closely at that or also number so of the a awareness We obviously from We’re coverage the commercial increased community. been have keratoconus.

Here we for very our positive COVID sales record Photrexa in new It’s having thing are business. of number and a starts. we a been and are situation

Chris Cooley

dialing sure on when just just bit Joe, I my coming to in expenses, P&L then earlier, detail up talk Appreciate quarter expenditures? a ability sales middle calendar marketing assume fourth but into front? the ramping we in go we ramping better little ramp ‘XX. think of operating about obviously really OpEx R&D environment all comments little of the the all and just plus of those the a want aware primarily if on discipline maybe your there. the on back as in understood that’s to that through you this the there of, I with to the is follow-up little continue outside through maybe line, just bit are beneficial? start going the you bit us but of a and of would company’s make I Could the impressed maybe about could maintain kind And expense be the to just the trial the the help you

Joe Gilliam

would million trends that and think trough, second Chris. $X have Sure, operating expenses that the we say of the revenue mean quarter, of that. alongside kind the the $XX.X We I the increased roughly right? on about. I side talked in in you’ve third recovery second sequentially about million the way do I Yes. now quarter at this the Happy is to seen were in

as So that and acquisition the implemented what pandemic. of closely the environment upon trying it’s in place as we frankly related schedule we’re the in measures Avedro And to manage is and organization, month-to-month quite top ourselves to expenses of we degree evaluate week-to-week, continue you’re a where we our the to well we cost-saving as put original response seeing both to find the ahead line. measures, on on have that, a COVID throughout as team in based

expectations go from the – that operating SG&A, over from go correlated will the you year, were here the the to of coming the over tell year, you highly of we line recall that is would where two-thirds quarters. about at R&D. we on our course million one-third the I probably $XXX for But top fairly about So from split where expense we said beginning

level as think back I trend and So line. of back expense towards that would progress expect spending would our progress that normal, we operating you towards overall

Chris Cooley

you. Thank

Operator

with Zimmerman next And from your comes line Ryan the question of BTIG.

Ryan Zimmerman

taking for afternoon the questions. everyone. thanks Hey Good

So follow-up on Tom, a bit. a little iDose just

And not launch. are data commentary would you I allowed around what how kind see know for onetime cell or love I fares being thoughts But have of or wondering result endothelial that kind And thinking your may seen to about of there. be right we guess, I that’s any say their since about physicians really we’re particularly these loss. I’d have there’s loss. it of they am very waiting cell a sales softer only on of dynamics, provide the I say can think may now, around would iDose, if some than if expected We DURYSTA remain, bill to that appreciated.

Tom Burns

that not seeing channel is eventual question high really marketplace apparent, endothelial in need. feel to pent-up with I some restriction I there’s you what delivery clinicians and of not a has of Yes, and DURYSTA of gone I that to approval from has those for sales and really are to fact a use be to there There’s mean, Ryan. of loss That, may a a of I believe the the that the the before, advantages. a release that and in get What to, would there’s pretty I Allergan faces. have you that has appetite the as checks, the up system. I for say pulse would picking kind would to happy be you’re truly drug indicative calls the marketplace relatively question sustained me, of said that would you many, think associated me iDose would is nascent because for that can demand impediments product no emerging. I asking labeling significant is your the a our that think, I long-lasting effect, duration truly cell some that before, I But to is rate about lead as and tell many mentioned you no point

the at been I for but the move that the nature to really One, So thing at underlying twofold. to glaucoma of alternate DURYSTA, moving there some there’s the and exists, when only solution forward. noncompliance it, us been clear is we for it’s predicate appetite any has not is provide look that me I a in that time, solution look ubiquitous that

forward. think that we’ll of I think I advantage moving that’s exceedingly important, take and

Ryan Zimmerman

follow-up a MIGS just guys Okay, I think month some are that, get going catalysts And next market, the data have the coming. three to that then broader one year we just and on of for iDose, early on thought. I appreciate but if you that recall

months DURYSTA, appropriate is And to approval? to the rates wait that? a X metric them we around for for washout to get year X so you’re comfortable Or reimbursement for with or payers for particularly to going longer out think year of need do the you saw terms in –

Tom Burns

the FDA which this timolol. is sets regulation. Yes. Well, our remember, approval, the the Three is months will basis for again be BID and control, versus

fact. in what include ideal as year, that, made of said, we have will reached and the data safety. be that I will that a as year’s worth efficacy FDA felt presenting to if would our we the I need and be along, in commercially that a I But is think six So viable all would you comments month refer And to you that is is I I’ve I’d for durability we tell a basis, would device. a NDA

then iDose or we running the be seek will hand three the to hold TR you able current do to and the able product. approval. show study we which Ryan, great commercial remind with hopefully, we think we investors twice that as number nearly in Xb this in coming product, to And go data having with TREX, at position will a of to is payers too, that, medication said that of with of count data potential second-generation is. we in patients, So we payers product significant extended this be out have been that, be prescient note, ultimate true going iDose of Likewise, which a will with to amount this what to durability have years, Phase should up the that iDose

with are be glaucoma. on position to enviable patients if for incredibly TR an approval to from be able an to a to have of heels treat surgeons expedited And I we think successful to patients so – long-term truly to choose path in duration the to iDose an activities set we’re launch, of going in

Ryan Zimmerman

back very go right to for about, I just is one That’s more then a at things the value-oriented was back talked will of you lastly product iStent me the original have hop inject as of queue. helpful. in when And launch to compete think, on I price. the Joe, using least we of and Okay.

are advantage utilization edits, reimbursement, Chris. the maybe some and get if better we of? in given the more love to your for the NCCI views whether value-oriented as of product, on so is what of not taking for But of a are And that that’s there changes around or you iStent have seeing. demand is seen something And kind use this you’re

Joe Gilliam

It’s quite maybe dynamics will really transition in. would around to franchise. initial perspective our and about of can and training Chris, some post want just improve we to are the sales it the favor financial jump Chris remained doctors of the that. wave our vast W start – The and iStent you. not And that you to has a continue the inject has that? surprise I stable Joe. a I now inject talk majority results, say as might iStent of and inject iStent then from or from vast,

Chris Calcaterra

value only we ability But Yes. the vast two, choice. And prefer a majority We to iStent having yes, on is, who are are as like less and value, There who customers iStent. based a proposition, But utilization the with then like make and to stent our W. us the versus you is alluded inject of decision doctors product. there value expensive. choice that the because still it our iStent having a for inject is to, one is some there have and from

Ryan Zimmerman

you. Thank

Operator

Joanne question line Wuensch next of from the question comes with Citi. Your

Unidentified Analyst

This Yes. for is Joanne. [indiscernible] in

great on rate it you kind run to Photrexa. around of you quarterly How does of starts as First new up what full And those speed? they provided. And ramp for to once speed? congrats long to are do starts up question the take kind new full of kind numbers their is guys see

Chris Calcaterra

some your to it is – got it this get of going by run a but take you’ve time Chris, quarterly Yes. at Hard way, to build rate, network because get to does the referrals.

You get get the installed, equipment in, have the got purchase the equipment to product.

couple going and So I’m get to of I you’re running. months following up before say – and would a here somewhat

Joe Gilliam

Photrexa to you recall they takes They that a were start, per and significant is month who’s fully was early Avedro been running around X will what on I get will are a average You to about while the there. that up a treatment. really there’s of talked general say And pretty to per keratoconus from utilization. public will. in the delta and it But underneath customers day those X.X company, when in those treatments sort if

Chris Calcaterra

And the COVID effect.

Joe Gilliam

Yes.

Unidentified Analyst

with whatever no, was April, one just what time on no Okay, that’s themselves around And prepared the helpful. are are worst you seeing kind when sticking than in second how call of it, prepare you differently back resurgence, to then, seeing this COVID for we then want waves, ophthalmologists was?

Chris Calcaterra

It’s and surgery offices remains things shut in their COVID. that OR hopefully nurses have to the procedures their down try to they of that place safety in in I’m down. one it’s down inclined because So – be less just the all that aware patient less seen. they and and the of have board. have to all with that the so to the and that the But ensure employees on came they’re of a center the shut across protocols

So given else, with she that shut was everybody down in surgery they contact centers. the

be that, precautionary when better to going I and health are people fluctuations will and back surgery how in steps question care do But and So otherwise because they through that March. it’s to predict these physicians directly, your centers there’s didn’t what do. and think prepared to and November hard do they’re answer where and professionals taking

Joe Gilliam

Yes.

we entered can’t control from that, more late clearly result amid in we’re what events here, – a surgery too. series resurgence. I you unexpected to particularly as that as Tom obviously, Chris I said Having into this you place if add. March. by can’t cancellations think for where relative mean, of to, think decide we’re I elderly proactively an just shelter was their patients, I control preparedness that, and encouraged said, patients, would encouraged And

of procedures permanent, It’s we resurgence. have of a it’s these go and days in something temporary So we to like COVID a degree not but between early a still there’s back deferral, fairly ours. now potential high elasticity factor as in here

Unidentified Analyst

much. very color. appreciate I Thanks the

Operator

line of next question from Petrone comes Anthony your And the with Jefferies.

Anthony Petrone

Thanks here quick three One on do would market of And will the surgery. Epi-On that And be how are would That the to one. on to one first then the and and would take realize stand-alone Avedro. on studies, I expansion? specifically opportunities sort one you us two refresh therapy doing cataract. opportunity hope shifting be Two to everyone stand-alone refractive well. think second is questions long cataract. it to linked be on just Maybe from market combo of kind on the

following and And get what the so ectasia KXL? for that I surgery just or you sort not piece that of can whether refractive of us see you of as sort incidence keratoconus for here is corneal review Thanks. opportunity down to if and wondering am larger the

Joe Gilliam

keratoconus, utilization, broader addition opportunity you broader the the start the let think was size the and adjacent then just timing bit a to I asking and and but then in Tom in refractive just sort will Joe. of keratoconus It’s surgery. – the opportunity, some Chris and talk of And can then not MIGS off question. were with Okay. I about stand-alone and around little I cross-linking what

larger as little of – in on a will size we depending you in a upon MIGS we that. that. Obviously, about MIGS, standpoint, the It progression bit I about maybe how are end-stage stand-alone have XXX,XXX obviously, here. let a here them of timing the number about of to the that’s disease, go past, XXX,XXX procedures abroad, United The the From that. So puts anywhere for So in than penetration, talked stage stand-alone think the as talk there the right? the said annual potential you past you States. depends and it, much it’s from measure takes disease,

glaucoma with teaching built in the category familiar very comes management, unlike you’re has with Glaukos a solutions. MIGS late-stage intervening where of over as patient. So it at treating obviously, surgical team When and are time, new MIGS way doctors to already a a

done procedure less them, that, of context are there Having you of in is how convincing out patients. fewer there get your with and on be these to have said those force your So like. train the and treat sales the so there you to doctors and

think things late-stage on at and – the market Chris these I focused way. way, do it in it the stand-alone look – be right opportunity. we as way the the right it’s getting outcomes is in we a we often We methodical we’ll procedures So says, train of as will bring some to be

well obviously iStent includes MicroShunt that that PreserFlo as out. as both comes the infinite as So

U.S. start to best the that’s broader think moderate you or we’re about said that estimates Epi-On opportunity, that you and If our a stand-alone opportunity enthusiastic obviously year Chris, you mild obviously, the potential want a the something line do but down little here planning And moving bit probably are that procedures about that talk stand-alone provides or the into another the Tom keratoconus? term about MIGS more in we’ve longer over to XXX,XXX period.

Tom Burns

Yes, I it. to would be happy do

triangulating we epidemiology about, for keratoconus again, studies, think at market, we the prevalence larger it’s so worth Again, of number around and there’s here that looking when at if patients a is And the the XXX,XXX look the the in market. long U.S. which term

of at we smaller what we it X.X with analysis XX,XXX believe can than But and a believe up is of you meaningful additional yes, speak, refractive triangulate come with and market. the asked that surgeons, are be meeting we the keratoconus overall each It market. we process our is approaching, interesting number patients Epi-On. on as is. because in with incidents it’s far million about penetrate a to clearly numbers interesting of eyes, own question market have and we’re We the corneal are we’ll and potentially be I diagnosed that are That able some large or eyes market both the ectasia. seen that looking around treatable. newly year XX,XXX of clear to an Epi-Off It’s with and

present tuned. we that we at as in do upcoming and like a stay like our meeting. be And sophisticated an together So pull we’ll do estimates to to able information way,

Anthony Petrone

data, is. place? refractive have look million to of That’s corneal ectasia in on good helpful. what a follow-up, when obviously, scope Thanks procedures the smarter a X and But one place, we you get starting just the U.S., that then incidence quick it’s market at Is again. good starting

Tom Burns

arcuate of arrested patients in the And these the with how some a cross issues many then overall. and by healing. good with at time, ectasia cylinder linking. are and at But of we the cornea to of use we of actual the ectasia truly how change. look look be corneas the how for asymmetry have What corneal place progression rate it’s these starting that is over now Well, the a can just

and we It’s we that I again, believe rather be accurate analysis speak. sophisticated market as able and that And is. And together sophisticated. so to convoluted and analysis of it’s will undergoing looking are we a at pull what

Anthony Petrone

you. Thank

Tom Burns

You are welcome.

Operator

And Misra from your of with Capital. Berenberg Ravi last comes line question the

Ravi Misra

It’s Berenberg.

So I just think, I just tonight. I everyone. a for two day, the been – It’s have will long first for guess

with of that may kind the or coming a launch? iStent of product, about maybe if more on it? it’s second of really measured is question. PreserFlo of insight more is my this the once that, some you of bit one Or then a of mean provide I for or comfortable kind however terms in just you could it First, kind year, many – kinds off surgeon a out some this the races little the cases be, that philosophical to can the a of training is type required? talk be specific might of new of And is

business job from care You a more the converting guys kind single have, portfolio. MIGS comprehensive into of a think, I eye company done at good product a

an about that our when talking investor the is really catalysts the area, on that kind this could of Just around maybe in timings pipeline what’s and we just areas expect you if excited retinal of some talk you’re some looking forward, of about hey, again? to and saying, the data you’re

Chris Calcaterra

I Ravi, then the and address the second it Tom one will to this is one. for turn first Chris. over

The new iStent had a W, training. of extensive of inject ab require There’s more tissue. And we there lot procedure. will will that teach a interno. all in PreserFlo, terms iStent, lots inject, people similar of the of of PreserFlo similarities a cutting surgery. be in to not terms training. In iStent to glaucoma lot a The It’s certainly

we it But and it’s to will and that say And except variables there’s device. the a require be cases where some representative in There’s And additional number a the similarities. procedure, will more and a some specialist, with there the glaucoma sales we device this be of be some way so for with is magic There a some doctor will of we’ll will iStent thorough. inject same PreserFlo required it much about feel where nuances very that a more nuances is lot W, But implanting training. that lot good be will approach the approached time. involved extensive takes that situation device. the doctor and no

So to this we want to outcomes so to utilization. doctors sure understand Good leads increased outcomes. that make lead good that

will W. it be device. infinite, three different iStent instead obviously, be more In insertion inject but the of W, there stents will with will two, terms It that and and a comes of be like,

be the training be will very cases therefore, would similar, of So versus much will convert to and I there that or required number say W the less. inject

Tom Burns

and in glaucoma, in in that full-scale retina. are of And becoming a in health doing again, retina. And am purveyor moving we address are I happy to corneal some both towards our we work embryonic

to regard excited with very our So specific retina, about we work triamcinolone implant. with are a

may able then of million marketplace. we we this to strengths advantages a As, goes And it’s this This be period $XXX marketplace. some already to able entry have diabetic order drug marketplace from both worldwide and is right been X should kind about. meaningful and primarily very, we implant delivery, think away feel of month very strongly and have advertised, which this delivery edema. a which now extrude, over with macular very very to have good a triamcinolone, a by called six treatment for Allergan, steroid, over it’s be pharmacokinetics product And showing marketplace is what does with afterwards. we It’s OZURDEX, with potent into served being that shortly we have an

in So know, into as clinic the year you early or XXXX. in hope next to late we development, preclinical moving moving forward and and be forward

early. use which of get is understanding to company. significant anti-VEGF treatment the we we’ve one from time, for Allergan cross-linked the In of will and the undertaking we’re degeneration, sequester them. in that’s and such some as Pharmaceuticals macular really long-term in the That looking the to yet balkanization meetings. degeneration, able we of promising have recruit described terms happened of position we’re product work we’re of treatment be at top we The with I age-related hydrogels, work Herculean that compounds why talent to headway as with some previous looking some And efforts the are are the potency reasons pharmacokinetics, able feel making this have at to a for that been demonstrated over the of the and age-related of release macular there we

best at are anti-VEGF And think multi-kinase the persistent release, And vessel good period we’re which showing multi-kinase a models, and degeneration. time. are so over results leakage of looking potency. macular inhibitor, the strong in an really be the of extended minds which strong of in indicator a at promising – of molecule final we products at is these exciting And there, problems. these And age-related of showing the inhibitor really retinal a are small pharmacokinetics if both would treatment some these area looking are looking area we get And we opportunities. the have of some for that

are for I’ve hybrid to So company said, a reasons, a these moving medical all – we’re we as device pharmaceutical that become company.

on that. doing the throes We’re of

We aspirational. are

making promising areas. good progress are We in these

Ravi Misra

Okay, thank job. you. Good

Tom Burns

Ravi. Thanks,

Operator

questions no at the any now are I further company this for time. turn will back there to remarks. closing it And

Tom Burns

is Okay. you safe. much, Thank everyone time you for and attention And your continued very We again, interest and hope staying thanks thank for to Glaukos. everybody your Goodbye. all today. in

Operator

disconnect. gentlemen, and today’s conference Thank you call. for you now concludes and this Ladies participating may

Glaukos (GKOS) 8 Nov 202020 Q3 Earnings call transcript