Glaukos (NYSE:GKOS) shares were down this morning on second-quarter results that missed the consensus earnings forecast.
The Aliso Viejo, California–based glaucoma treatment developer posted losses of $45.5 million, or 96¢ per share, on sales of $72.7 million for the three months ended June 30, 2022, for a bottom-line slide deeper into the red on a sales decline of 6.9%.
Adjusted to exclude one-time items, losses per share were 83¢, 39¢ behind Wall Street, where analysts were looking for sales of nearly $68 million.
“I’m pleased with our second quarter performance and solid execution of our strategies despite a challenging global environment,” Glaukos Chair and CEO Thomas Burns said in a news release. “We are now in the midst of several exciting new product launches and continue to successfully invest in and advance our robust pipeline of novel, dropless platform technologies designed to meaningfully advance the standard of care and improve outcomes for patients suffering from chronic eye diseases.”
Glaukos expects full-year 2022 net sales to be in the range of $275 million to $280 million.
Shares of GKOS were down 5% at $50.67 per share after the market opened this morning. MassDevice‘s MedTech 100 Index — which includes stocks of the world’s largest medical device companies — was up 0.2%.