Glaukos Corp. today announced it received FDA approval for Epioxa, an eye therapy made to stop the progression of keratoconus.
Keratoconus is a rare, sight-threatening disease that is currently “far too often undiagnosed and untreated,” according to Glaukos. The company’s incision-free treatment eliminates the need to remove the outermost layer of the front of the eye.
“The FDA approval of Epioxa ushers in a new standard-of-care for patients suffering from keratoconus with the first FDA-approved topical drug therapy that does not require removal of the corneal epithelium,” Glaukos Chief Executive Thomas Burns said in a statement.
With the approval, Glaukos expects to begin commercially rolling out Epioxa in the first quarter of 2026.
Despite the announcement, Glaukos shares are down 11.5% to $77.18 and a market cap of $4.4 billion. The news was overshadowed by analysts lowering the price target for Glaukos, attributing the decline to broader market conditions and competitive pressures, according to financial analysis website TipRanks.
