UNITED STATESSECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-KCURRENT REPORT

Pursuant to Section 13 or 15(d) ofThe Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):  August 7, 2019

Glaukos Corporation(Exact name of registrant as specified in its charter)

         

Delaware   001-37463   33-0945406(State or other jurisdiction   (Commission   (I.R.S. Employer

of incorporation)   File Number)   Identification No.)      

229 Avenida Fabricante San Clemente, California

 92672

(Address of principal executive offices)   (Zip Code) 

Registrant’s telephone number, including area code: (949) 367-9600

Not Applicable(Former name or former address, if changed since last report.)

 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any ofthe following provisions:

☒ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in as defined in Rule 405 of the Securities Act of1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).  Emerging growthcompany  ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   ☐  

Securities registered pursuant to Section 12(b) of the Act:

Title of each class: Trading Symbol Name of each exchange on which registered:Common Stock   GKOS   New York Stock Exchange

 

  

Item 8.01. Other Events.

Glaukos Corporation (the “Company”) intends to present the materials attached as Exhibit 99.1 to this Current Report onForm 8-K (the “Investor Presentation”) from time to time in presentations to investors and other stakeholders. The InvestorPresentation will also be available on the investor page of the Company’s website at http://investors.glaukos.com.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits .     

Exhibit No.   Description99.1   Investor Presentation, dated August 7, 2019 

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to besigned on its behalf by the undersigned hereunto duly authorized.

  GLAUKOS CORPORATION (Registrant)

       By: /s/ Joseph E. Gilliam    Name: Joseph E. Gilliam    Title: Chief Financial Officer and Senior Vice

President, Corporate Development Date: August 7, 2019 

Exhibit 99.1

1 © 2019 Glaukos Corporation1 August 7, 2019 TransformingOphthalmology acquisition of

2 © 2019 Glaukos CorporationUse of Forward-LookingStatements Thiscommunication contains“forward-looking statements”within the meaning of federalsecurities laws. Forward-looking statements may containwords such as “believes”,“anticipates”, “estimates”,“expects”, “intends”, “aims”,“potential”, “will”, “would”,“could”, “considered”, “likely”and words and terms of similarsubstance used in connectionwith any discussion of futureplans, actions or events identifyforward-looking statements. Allstatements, other thanhistorical facts, includingstatements regarding theexpected timing of the closingof the proposed transaction andthe expected benefits of theproposed transaction, areforward-looking statements.These statements are based onmanagement’s currentexpectations, assumptions,estimates and beliefs. WhileGlaukos and Avedro believethese expectations,assumptions, estimates andbeliefs are reasonable, suchforward- looking statements areonly predictions, and aresubject to a number of risksand uncertainties that couldcause actual results to differmaterially from those describedin the forward-lookingstatements. The followingfactors, among others, couldcause actual results to differmaterially from those describedin the forward-lookingstatements: failure of Avedro toobtain stockholder approval asrequired for the proposedtransaction; failure to obtaingovernmental and regulatoryapprovals required for theclosing of the proposedtransaction; failure to satisfy theconditions to the closing of theproposed transaction;unexpected costs, liabilities ordelays in connection with orwith respect to the proposedtransaction; the effect of theannouncement of the proposedtransaction on the ability ofAvedro or Glaukos to retain andhire key personnel and maintainbusiness relationships withcustomers, suppliers andothers with whom Avedro orGlaukos does business, or onAvedro’s or Glaukos’ operatingresults, market price ofcommon stock, and businessgenerally; potential legalproceedings relating to theproposed transaction and theoutcome of any such legalproceeding; (vii) the inherentrisks, costs and uncertaintiesassociated with integrating thebusinesses successfully andrisks of not achieving all or anyof the anticipated benefits ofthe proposed transaction, or therisk that the anticipated benefitsof the proposed transactionmay not be fully realized or takelonger to realize than expected;competitive pressures in themarkets in which Avedro andGlaukos operate; theoccurrence of any event,change or other circumstancesthat could give rise to thetermination of the mergeragreement; other risks to theconsummation of the proposedtransaction, including the riskthat the proposed transactionwill not be consummated withinthe expected time period or atall; uncertainties about Glaukos’ability to maintain profitability;Glaukos’ dependence on thesuccess and marketacceptance of the iStent®;Glaukos’ ability to leverage itssales and marketinginfrastructure to increasemarket penetration andacceptance both in the UnitedStates and internationally of itsproducts; Glaukos’ dependenceon a limited number of third-party suppliers, some of whichare single-source, forcomponents of its products; theoccurrence of a cripplingaccident, natural disaster orother disruption at Glaukos’primary facility, which maymaterially affect itsmanufacturing capacity andoperations; maintainingadequate coverage orreimbursement by third-partypayors for procedures using theiStent or other products indevelopment; Glaukos’ ability toproperly train, and gainacceptance and trust from,ophthalmic surgeons in the useof its products; Glaukos’ abilityto successfully develop andcommercialize additionalproducts; Glaukos’ ability tocompete effectively in the highlycompetitive and rapidlychanging medical deviceindustry and against currentand future competitors(including MIGS competitors)that are large public companiesor divisions of publicly tradedcompanies that havecompetitive advantages; thetiming, effect and expense ofnavigating different regulatoryapproval processes as Glaukosdevelops additional productsand penetrates foreign markets;the impact of any productliability claims against Glaukosand any related litigation; theeffect of the extensive andincreasing federal andDisclaimer

3 © 2019 Glaukos Corporationstate regulation in thehealthcare industry on Glaukosand its suppliers; the lengthyand expensive clinical trialprocess and the uncertainty ofoutcomes from any particularclinical trial; Glaukos’ ability toprotect, and the expense andtime- consuming nature ofprotecting, its intellectualproperty against third partiesand competitors that coulddevelop and commercializesimilar or identical products; theimpact of any claims againstGlaukos of infringement ormisappropriation of third partyintellectual property rights andany related litigation; and themarket’s perception of Glaukos’limited operating history as apublic company. Additionalfactors that may affect thefuture results of Avedro andGlaukos are set forth in theirrespective filings with the SEC,including each of Avedro’s andGlaukos’ most recently filedAnnual Report on Form 10-K,subsequent Quarterly Reportson Form 10-Q, Current Reportson Form 8-K and other filingswith the SEC, which areavailable on the SEC’s websiteat www.sec.gov. The risks anduncertainties described aboveand in Avedro’s most recentQuarterly Report on Form 10-Qand Glaukos’ most recentQuarterly Report on Form 10-Qare not exclusive and furtherinformation concerning Avedroand Glaukos and theirrespective businesses,including factors that potentiallycould materially affect theirrespective businesses, financialcondition or operating results,may emerge from time to time.Readers are urged to considerthese factors carefully inevaluating these forward-looking statements, and not toplace undue reliance on anyforward-looking statements.Readers should also carefullyreview the risk factorsdescribed in other documentsthat Avedro and Glaukos filefrom time to time with the SEC.The forward-looking statementsin these materials speak only asof the date of these materials.Except as required by law,Avedro and Glaukos assume noobligation to update or revisethese forward-lookingstatements for any reason,even if new informationbecomes available in the future.Additional Information andWhere to Find It In connectionwith the proposed transactionbetween Avedro and Glaukos,Glaukos will file with the SEC aregistration statement on FormS-4 that will include a documentconstituting a prospectus ofGlaukos and will also contain aproxy statement of Avedro.Avedro and Glaukos also planto file other relevant documentswith the SEC regarding theproposed transaction. After theregistration statement on FormS-4 is declared effective by theSEC, a definitive proxystatement/prospectus will bemailed to the stockholders ofAvedro. INVESTORS ANDSECURITY HOLDERS AREURGED TO READ THEPROXYSTATEMENT/PROSPECTUSAND OTHER RELEVANTDOCUMENTS FILED WITHTHE SEC CAREFULLY ANDIN THEIR ENTIRETY WHENTHEY BECOME AVAILABLEBECAUSE THEY WILLCONTAIN IMPORTANTINFORMATION. Investors andsecurity holders will be able toobtain free copies of theregistration statement on FormS-4 and the proxystatement/prospectus (whenavailable) and other relevantdocuments filed or that will befiled by Avedro or Glaukos withthe SEC through the websitemaintained by the SEC athttp://www.sec.gov. Copies ofthe documents filed with theSEC by Glaukos will beavailable free of charge withinthe Investor Relations sectionof Glaukos’ internet website athttps://investors.glaukos.com orby contacting Glaukos InvestorRelations by email atinvestors@glaukos.com or byphone at 949-481-0510. Copiesof the documents filed with theSEC by Avedro will be availablefree of charge within theInvestor Relations section ofAvedro’s internet website athttps://investors.avedro.com orby contacting Avedro InvestorRelations by email atinvestors@avedro.com or byphone at 646-924-1769.Disclaimer

4 © 2019 Glaukos CorporationParticipants in the SolicitationEach of Avedro and Glaukosand their respective directorsand executive officers may bedeemed to be participants in thesolicitation of proxies fromAvedro stockholders inconnection with the proposedtransaction. Information aboutAvedro’s directors andexecutive officers is included inAvedro’s Annual Report onForm 10-K for the year endedDecember 31, 2018, which wasfiled with the SEC on March 21,2019, and is also included inAvedro’s Form S-1 RegistrationStatement filed with the SEC onJanuary 18, 2019, as amendedby Amendment No. 1 toAvedro’s Form S-1 RegistrationStatement filed with the SEC onFebruary 4, 2019. Informationabout Glaukos’ directors andexecutive officers is included inits definitive proxy statement forits 2019 annual meeting ofstockholders, which was filedwith the SEC on April 17, 2019.Other information regarding theparticipants in the solicitation ofproxies in connection with theproposed transaction and adescription of their direct andindirect interests, by securityholdings or otherwise, will becontained in the proxystatement/prospectus and otherrelevant materials to be filedwith the SEC regarding theproposed transaction when theybecome available. Investorsmay obtain free copies of thesedocuments from Avedro orGlaukos as indicated above. NoOffer or Solicitation Thiscommunication does notconstitute an offer to sell or thesolicitation of an offer to buyany securities nor a solicitationof any vote or approval withrespect to the proposedtransaction or otherwise. Nooffering of securities shall bemade except by means of aprospectus meeting therequirements of Section 10 ofthe Securities Act of 1933, asamended, and otherwise inaccordance with applicable law.Disclaimer

5 © 2019 Glaukos CorporationCreating Hybrid Pharma &Device Ophthalmic LeaderGLAUKOS TO ACQUIREAVEDRO Combines two highlycomplementary, hybrid pharma& device ophthalmicorganizations LeveragesGlaukos’ proven market-building experience, globalcommercial scale and sharedreimbursement expertise andcustomer relationships tomaximize Avedro’s disruptivetherapeutic solutions andpipeline Expands R&Dcapabilities, leverages Glaukos’extensive clinical and regulatoryinfrastructure and enhancesmultiple development initiativesacross both organizationsEstablishes foundation forGlaukos’ new synergisticcorneal health franchise,providing new avenues for long-term growth in large ophthalmicmarkets Creates potentialmeaningful shareholder valuefor Glaukos and Avedroshareholders

6 © 2019 Glaukos CorporationGlaukos Continues to ExecuteAccording to Plan 2Q 2019 NetSales: $58.6M YoY Growth+36% 2019 revenue guidancerange increased to: $226-$231M iStent inject US launchapproaches 1-year mark asfavorable real- world datamounts Robust, broad-basedinternational expansioncontinues to gain strengthiDose Travoprost, iStent infiniteand other pipeline productcandidates proceeding on trackGrowing R&D capabilitiesdriving 10+ preclinical initiativesacross glaucoma, cornealhealth and retinal diseaseIndustry-leading, proprietaryglaucoma pipeline nowaddresses full range of diseasestates and progressionExecuting financially withcontinued revenue growth,strong gross margins,disciplined operatinginvestments and positive netcash flow (Excluding Avedro)iDose and iStent infinite are notapproved by the FDA

7 © 2019 Glaukos CorporationOAG Progression OCULARHYPERTENSION MILDMODERATE ADVANCEDREFRACTORY Addressing fullrange of glaucoma diseasestates and progressionPotential to expand our USaddressable market 7-fold to+4M eyes REFRACTORYADVANCED MODERATEMILD OCULARHYPERTENSION TM TM ®iStent SA, iStent Supra, iStentinfinite, iDose, DWTI andMicroShunt are not approved bythe FDA MicroShunt 2021-222018 2020 2020-21 2023 20122020 Glaukos Continues toExecute According to PlanExisting Glaucoma PipelineRemains on Track PotentialROCK inhibitor for iDose drugdelivery platform

8 © 2019 Glaukos CorporationBecoming An OphthalmicLeader by Building DisruptiveFranchises with Large &Growing Opportunities Long-Term Revenue Growth is OurFocus Glaucoma RetinalDisease Corneal Health Newmarket creation or disruptionPipeline acceleration viaenhanced R&D capabilities andsales channel access Micro-scale surgical, sustainedpharma or hybrid platformsGlaucoma $13BOPPORTUNITY1 $54BOPPORTUNITY1 1 MarketScope, company estimates

9 © 2019 Glaukos CorporationExecuting on Our Long-TermGrowth Strategy AdvancingOrganic Programs & ExpandingPipeline • Phase II resultsshowed consistent IOP andmedication reduction at 3M and1 year with fewer rescue medsvs topical control • Phase II 2year follow-up data continues todemonstrate favorable iDoseperformance and durability •Next-generation iDoseextended- release implant withincreased drug capacity in latedevelopment stagesGLAUCOMA RETINALDISEASE CORNEAL HEALTH• Novel sustainedpharmaceutical retinalplatforms • Multiple micro-invasive, bio-erodible drugdelivery platforms underdevelopment • Platformsdesigned to treat AMD, diabeticmacular edema and otherretinal diseases • Targetingtreatment options withmeaningfully longer duration-of-effect than current standard ofcare • Novel, transdermal,sustained pharmaceuticalplatform targeting dry eye,glaucoma and other cornealdisorders • Patented, cream-based formulation applied toupper eyelid for transdermaldelivery • Early human studieson dry eye subjects showpromising results •Complements Glaukos’ organiccorneal health R&D initiativesiDose, DOSE Medical andIntratus are not approved by theFDA

10 © 2019 Glaukos CorporationAcquisition CreatesCornerstone for Corneal HealthFranchise Furthers Glaukos’Hybrid PharmaceuticalCapabilities 1 Based on MarketScope 2018 estimates of 600Kpeople with progressivekeratoconus (90% bilateral) inUS First ever bio-activatedtopical ophthalmicpharmaceutical Single-application hybrid keratoconussolution that strengthenscorneal tissue Robust pipelineNext-generation solutions offersignificant near-term expansionpotential Novel singleapplication of Photrexa® bio-activated topical pharmaceuticaltherapy for corneal cross-linking treatment ofkeratoconus disease First andonly FDA- approved treatmentthat halts disease progressionJ-Code recently established inJanuary 2019 current USopportunity1 $3B Highlyunderpenetrated Favorablereimbursement 95%commercial lives covered >65%2019 YTD revenue growth yearover year

11 © 2019 Glaukos CorporationPronounced SimilaritiesUnderpin Transaction’sStrategic Rationale GlaukosExperience Establishing MIGS& Glaucoma Franchise CloselyMirror Avedro’s Keratoconus &Refractive Opportunity Buildingbody of clinical data thatvalidates the technology’sreliable performance andexcellent safety profileExtending category leadershipby developing a deep, market-expanding pipeline and buildingan experiencedclinical/regulatory capability tonavigate approval pathsTransforming the paradigm withproprietary platform technologythat overcomes drawbacks ofconventional therapy Pioneeringa new category throughmethodical surgeon training,practice integration and patienteducation Securing broadreimbursement and providinghands-on support to educatepractice staffs and help ensureconsistent payment to providersBeing first to market in order toestablish formidable competitivepositions in US and selectinternational regions Combiningstrengths in large and growingmarkets, leveraging hybridplatforms

12 © 2019 Glaukos CorporationFits perfectly with ourcommercial organizationAccelerates our revenue growthtrajectory Furthers our hybridpharmaceutical strategyEnhances organic pipelineinitiatives / R&D teamsAttractive financial transactioncreates shareholder value ~700 of 1,100 Avedro targetaccounts are comprehensivepractices where Glaukosmaintains deep relationships 5x increase of Avedro’s 17-person field sales personnel to>90 combined Avedro 1H 2019revenues grew 66% YoY Expected to accelerate Glaukos’revenue growth rate in 2020 Combined global salesforce andreimbursement scale drivepotential revenue synergies in2021+ Unique hybrid R&D,clinical, regulatory andcommercial capabilitiesenhanced for organizationalsuccess Expertise in achievingcombination pro fee and J-Codetherapy reimbursement Highlycomplementary hybridtechnology and pharma R&Dorganizations Glaukos’ newcorneal health pipeline benefitsfrom Avedro’s clinicalrelationships Avedro pipelinegains access to Glaukos’extensive clinical infrastructure Estimated potential costsavings exceed $15M Potentialrevenue synergies fromcustomer overlap, combinedscale and expertise Expectedto be accretive to 2021+operating results and cash flowStrategic Rationale

13 © 2019 Glaukos CorporationAvedro is Targeting Large &Highly UnderpenetratedOpportunities BeyondKeratoconus, PipelineTherapies Are Designed toAchieve Vision Correction Next-gen therapy2 • Single-application of bio-activatedtopical ophthalmicpharmaceuticals as analternative to LASIK, refractiveIOLs or implants • Presbyopiaaffects virtually everyone overage 40, including > 50M peoplein US; ~13.5M people in the UShave low myopia and areusually under age 45; post-cataract distance vision issuesaffect ~600K eyes/year in theUS • Phase IIa internationalpresbyopia trial underway; USclinical trial planned • 38globally issued patents with 59pending patent applicationsVision Correction Pipeline $3BKeratoconus $15B Presbyopia$8B Low Myopia $180M PostCataracts $26B US OpportunityGlaukos Clinical InfrastructureProvides scale, resources andexpertise to administer large-scale US clinical trials andnavigate regulatory pathwaysPhotrexa1 therapy • Affects~1.1M eyes in US with ~32Knew eyes annually • Onset isoften in teenage years; 20%progress to corneal transplantKeratoconus 1 Epi-Off drugformulation 2 OUS; notapproved by the FDA

14 © 2019 Glaukos CorporationFirst Ever FDA-ApprovedCross-Linking Therapy HaltsKeratoconus ProgressionProprietary Drug Formulations /Single Application / Bio-Activated / StrengthenedCornea / Compelling ClinicalEvidence 50% 53% Singleapplication Photrexa® bio-activated topical pharmaceuticalsolution Removing theepithelium (Epi-Off only) Singleapplication of Photrexa® &Photrexa® Viscous applied tocornea UV illumination isapplied Patient cornea posttreatment • No removal ofepithelium required • Novelcorneal cross-linking treatmentthat improves patient comfortand reduces therapy time •Enrollment completed inrandomized, sham-controlledPhase III study in May 2019;>275 eyes • ~2H 2020 datawith late 2021-2022 potentialFDA approval Epi - On 2 •Epithelium removed •Biochemical technique utilizesphoto-activation to create bondsbetween eye’s collagen fibers •Halts corneal thinning andweakening • Excellent efficacyand safety profile, extensiveclinical evidence and long-term(10-year) follow-up • Average0402T Pro Fee >$2,1001;J2787 code (WAC: $2,850) Epi- Off Commercial Est 2022 1Based on ARCH programclaims analysis 2 Epi-On notapproved by the FDA

15 © 2019 Glaukos Corporation$11 $19 1H 2018 1H 2019Commercial Fit Drives PotentialRevenue Growth AccelerationAvedro Revenue ($ in millions)Glaukos Corneal Health 5x USphysician reach + globalinfrastructure + globalreimbursement # of Avedro UStarget accounts served byGlaukos +66% YoY • US salesfield personnel: 17 • J Codeestablished Jan 2019 •Recently expanded USreimbursement team •International distributor network• Optometrist channelinvestments • US sales fieldpersonnel: 76 • Establishedglobal commercial leadershipand marketing infrastructure •Fully established globalreimbursement team • Directpresence in 16 internationalmarkets and growing •Optometrist channelinvestments ~700 1H 2019Glaukos + Avedro Revenue:$132M 86% 14% +39% YoYGlaukos Avedro

16 © 2019 Glaukos CorporationCreates World-Class R&D &Clinical Organizations LeadingOphthalmic Hybrid AnalyticalChemistry and AppliedResearch PharmaceuticalCapabilities Expanded Pipelineand KOL Relationships AcrossGlaucoma and Corneal HealthExtensive Clinical DevelopmentInfrastructure and GlobalRegulatory Expertise Combinedresources and pipelineopportunities position Glaukosto extend its leadership in high-growth ophthalmic categoriesPF 2019 R&D Budget $80M+Deep Hardware and SoftwareTechnology Capabilities UniqueExpertise in Micro-ScaleEngineering

17 © 2019 Glaukos CorporationAvedro Transaction SummaryTransaction Terms KeyFinancial Metrics Timing • All-stock transaction wherebyAvedro stockholders will receivean exchange ratio equivalent of0.365x Glaukos shares forevery Avedro share held • Thetransaction represents apremium of 42% based on bothcompanies’ volume-weightedaverage price (VWAP) for thelast 60 trading days1 • Proforma company ownership:~85% Glaukos / 15% Avedroshareholders • Expected togenerate revenue growthacceleration for Glaukosbeginning in 2020 with potentialrevenue synergies in 2021+ •Cost savings expected toexceed $15M by 2021 •Expected to be accretive to2021+ operating results andcash flow • Anticipated strongbalance sheet at closingenables company to execute onstrategy • Approved by bothcompanies Board of Directors;OrbiMed, HealthQuest and LAVAgile, which collectively ownapproximately 41% of theoutstanding shares of Avedrocommon stock, have enteredinto voting agreements to votein favor of the transaction •Transaction is subject tocustomary regulatory approvalsand Avedro shareholderapproval • Expected to close in4Q 2019 1 As of August 6,2019

18 © 2019 Glaukos CorporationTotal Net Sales (in millions)Glaukos Delivers AnotherRecord Quarter in 2Q 2019$43.2 2Q ‘18 ‘19 $58.6 $226-$231M FY 2019 RevenueGuidance3 $159M Cash,Short-Term Equivalents &Restricted Cash1 87% GrossMargin 1 As of 6/30/19 2Excludes $2.2M in-processR&D charge 3 As of 8/7/19International US 2Q RevenueMix 2Q 2019 Revenue YoYGrowth US $48.1 32%International $10.5 53%$37.7M SG&A Expenses$17.1M R&D Expenses2 82%18% $38-$40M FY 2019International RevenueGuidance3 YoY Growth +36%(Excluding Avedro)

19 © 2019 Glaukos Corporation$20.2 $27.7 2017 2018 AnnualSales (in millions) 2019 $38-$41M 2019 RevenueGuidance, as of 8/7/19Avedro’s Rapid GrowthContinues in 2Q 2019 $38-$412-Yr CAGR: ~40% $6.3 2Q$11.4 1H $10.3 YoY Growth+63% YoY Growth +66% $19.12018 2019 2019 2018

20 © 2019 Glaukos CorporationEnhancing Shareholder Valueby Creating a HybridOphthalmic Leader Focused onLong-Term Growth Avedro isideal strategic fit with potentialto accelerate our growthtrajectory • Disruptive singleapplications of hybrid bio-activated topicalpharmaceuticals in large,underpenetrated opportunitieswith favorable reimbursementand compelling clinicalvalidation • Leverages ourmarket-building expertise,commercial scale andclinical/regulatory infrastructure– immediate 5-fold increase insales field organization in USmarket where majority ofAvedro targets are existingGlaukos customers • CreatesR&D organization with uniqueblend of expertise to drivemultiple market-expandingpipeline opportunities forwardWe are building durable,disruptive franchises in largeand growing opportunities •Focus on micro-scale surgical,sustained pharmaceutical andhybrid platforms acrossglaucoma, corneal health andretinal disease has potential todramatically expand our growthopportunity • R&D teamscurrently advancing 10+preclinical initiatives acrossglaucoma, corneal health andretinal disease Our 2Q19performance confirmscontinuing execution accordingto plan • US iStent inject launchand international expansiondrive 36% YoY revenue growthand 87% gross margin; FY2019 revenue guidance raised •Glaucoma pipeline productsproceed on track andcollectively address full range ofdisease states and progression

21 © 2019 Glaukos Corporation2 1 August 7, 2019Transforming Ophthalmologyacquisition of