Glaukos (NYSE:GKOS) yesterday reported widening losses during its 2nd quarter, but shares held on for the glaucoma-treatment focused company.
Laguna Hills, Calif.-based Glaukos reported losses of $32.5 million, or $10.96 per share, on sales of $17.8 million for the 3 months ended June 30.
That amounts to a whopping 1000% plus increase in losses on sales growth of 60% for the company compared to the same period last year. The company saw losses per share grow from 90¢ to $10.96.
Shares of the company only dipped 2.5% in response to the news yesterday, opening at $32.69 and closing at $31.87.
“The 2nd quarter of 2015 marked the beginning of an important new chapter in our company’s long-term growth story. We are very pleased with investors’ response to our IPO and our success in pioneering an entirely new treatment class for glaucoma using micro-scale injectable therapies to address a broad range of glaucoma disease states and progression. Our results in the second quarter further underscore the strength of our core technology, our commercial execution and our future commercial potential,” CEO Thomas Burns said in a press release.
Glaukos said because its IPO closed the last day of the quarter, the losses per share listed were unevenly weighted due to the calculations being performed prior to the close.
The company released information reporting a loss per share of $1.30 per share taking into account shares sold during its IPO, still up significantly from a similarly calculated loss per share of 9¢ for the same quarter 2014.
In July, Glaukos closed its $140 million initial public offering with it underwriters exercising their over-allotment option, meaning net proceeds for the glaucoma device maker of roughly $112.3 million.
