Glaukos Corporation (NYSE:GKOS) dropped two pieces of news on Thursday: three-year trial results for its non-invasive keratoconus treatment, and an exclusive licensing deal to broaden its pipeline of retinal disease therapies.

Long-Term Phase 3 Success For Epioxa

The ophthalmic healthcare firm released positive topline data from its GLK-202-03 extension study evaluating Epioxa, a novel topical therapy for keratoconus.

Keratoconus is a sight-threatening corneal disorder that remains widely undiagnosed and undertreated throughout the patient population.

Designed as an incision-free alternative to traditional corneal cross-linking, the oxygen-supplemented therapy is bioactivated by pulsed UV light and does not require removing the corneal epithelium, helping to lower procedure pain, streamline administration, and speed patient recovery.

The extension trial monitored 38 study eyes across 35 subjects for up to three years following a single Epioxa treatment, with no further medical interventions administered during the follow-up period.

A total of 92% of participant eyes completed the final three-year assessment visit. Treated eyes maintained a 1.9 diopter improvement in maximum corneal curvature from baseline, proving long-term stabilization and flattening of the cornea.

Furthermore, visual outcomes showed strong performance, with 29% of eyes gaining two or more lines of best-corrected visual acuity and 20% gaining three or more lines.

The treatment maintained a clean safety profile with zero serious adverse events, treatment-related adverse events, or therapy-related patient discontinuations.

Retinal Pipeline Expansion Via Licensing Deal

Glaukos also announced an exclusive licensing agreement with RevOpsis Therapeutics Inc. to develop and commercialize RO-104, a first-in-class tri-specific biologic.

The high-concentration drug candidate targets several conditions, including neovascular age-related macular degeneration, diabetic macular edema, diabetic retinopathy, and retinal vein occlusion.

The therapeutic simultaneously blocks VEGF-A and VEGF-C while inhibiting Ang-2. Preclinical testing in animal models showed superior performance over existing anti-VEGF therapies.

The deal grants Glaukos exclusive rights to leverage the RevMod platform to develop up to four additional retinal biologics. The financial terms of the transaction were not disclosed.

GKOS Price Action: Glaukos shares were down 10.76% at $153.65 at the time of publication on Thursday, according to market data.