Glaukos (NYSE:GKOS) shares ticked up today on fourth-quarter results that beat the consensus forecast.
The San Clemente, California-based eye disease treatment developer posted losses of $21.9 million, or losses per share of 47¢, on sales of $73.2 million for the three months ended Dec. 31, 2021, for a bottom-line slide deeper into the red on minimal sales growth totaling just about $6 million.
Adjusted to exclude one-time items, earnings per share were 16¢, 53¢ ahead of Wall Street, where analysts were looking for sales of $67.3 million.
“Our fourth-quarter performance caps off a successful year of execution on many key strategic initiatives despite continued COVID-19 dynamics and other reimbursement challenges we faced,” Glaukos President and CEO Thomas Burns said in a news release. “We continue to successfully invest in and advance our robust pipeline of novel, dropless platform technologies designed to transform vision by disrupting the standard of care and improving outcomes for the benefit of patients worldwide suffering from chronic eye diseases.”
Glaukos anticipates 2022 net sales to range between $265 million and $275 million.
GKOS shares were up 4.4% at $51.24 per share in early-morning trading today. MassDevice’s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.4%.