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Glaukos' (GKOS) iDose TR Receives Permanent J- Code From CMS
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Glaukos Corporation (GKOS - Free Report) recently announced that its prostaglandin analog iDose TR (travoprost intracameral implant) 75 mcg was assigned permanent Healthcare Common Procedure Coding System J-code by the U.S. Centers for Medicare and Medicaid Services (CMS). This prostaglandin analog is indicated for the reduction of intraocular pressure (IOP) in patients with ocular hypertension or open-angle glaucoma.
The new J-code for iDose TR, J7355, is likely to become effective starting Jul 1, 2024. It is expected to increase patient access in the United States as it will likely accelerate the billing process and physician reimbursement.
Price Performance
In the past six months, GKOS’s shares have rallied 34.7% compared with the industry’s rise of 20.6%. The S&P 500 has gained 19.8% in the same time frame.
Image Source: Zacks Investment Research
More on the News
iDose TR is a novel long-duration intracameral pharmacological therapy intended to continually provide therapeutic doses of a unique formulation of travoprost inside the eye for prolonged periods. By addressing the frequent patient non-compliance problems and persistent adverse effects connected to topical glaucoma drugs, iDose TR aims to raise the bar for care.
The company announced the FDA approval of iDose TR back in December 2023. The approval was based on data from a phase III program consisting of two pivotal studies that evaluated the safety and efficacy of a single administration of one of two iDose TR models with different travoprost release rates in reducing IOP in subjects with open-angle glaucoma or ocular hypertension.
Surgeons, the U.S. government, and commercial payers use J-codes to expedite the billing and payment process for medications like iDose TR which are delivered by a healthcare provider, as well as other specific therapies.
For patients with open-angle glaucoma or ocular hypertension, having a product-specific J-code for iDose TR is likely to aid the company’s market access efforts by providing broader access and coverage. Once this new J-code goes into effect, it should give iDose TR more reliable, streamlined, and consistent coverage and payment in the future and eventually speed up initial commercial launch operations.
Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Cencora, Inc. (COR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 58.3% compared with the industry’s 18.9% rise in the past year.
Cardinal Health, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has gained 51.9% compared with the industry’s 3.2% rise in the past year.
Cencora, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.
Cencora’s shares have surged 51.5% compared with the industry’s 3.6% rise in the past year.
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Glaukos' (GKOS) iDose TR Receives Permanent J- Code From CMS
Glaukos Corporation (GKOS - Free Report) recently announced that its prostaglandin analog iDose TR (travoprost intracameral implant) 75 mcg was assigned permanent Healthcare Common Procedure Coding System J-code by the U.S. Centers for Medicare and Medicaid Services (CMS). This prostaglandin analog is indicated for the reduction of intraocular pressure (IOP) in patients with ocular hypertension or open-angle glaucoma.
The new J-code for iDose TR, J7355, is likely to become effective starting Jul 1, 2024. It is expected to increase patient access in the United States as it will likely accelerate the billing process and physician reimbursement.
Price Performance
In the past six months, GKOS’s shares have rallied 34.7% compared with the industry’s rise of 20.6%. The S&P 500 has gained 19.8% in the same time frame.
Image Source: Zacks Investment Research
More on the News
iDose TR is a novel long-duration intracameral pharmacological therapy intended to continually provide therapeutic doses of a unique formulation of travoprost inside the eye for prolonged periods. By addressing the frequent patient non-compliance problems and persistent adverse effects connected to topical glaucoma drugs, iDose TR aims to raise the bar for care.
The company announced the FDA approval of iDose TR back in December 2023. The approval was based on data from a phase III program consisting of two pivotal studies that evaluated the safety and efficacy of a single administration of one of two iDose TR models with different travoprost release rates in reducing IOP in subjects with open-angle glaucoma or ocular hypertension.
Surgeons, the U.S. government, and commercial payers use J-codes to expedite the billing and payment process for medications like iDose TR which are delivered by a healthcare provider, as well as other specific therapies.
For patients with open-angle glaucoma or ocular hypertension, having a product-specific J-code for iDose TR is likely to aid the company’s market access efforts by providing broader access and coverage. Once this new J-code goes into effect, it should give iDose TR more reliable, streamlined, and consistent coverage and payment in the future and eventually speed up initial commercial launch operations.
Glaukos Corporation Price
Glaukos Corporation price | Glaukos Corporation Quote
Zacks Rank & Stocks to Consider
GKOS carries a Zacks Rank #3 (Hold) at present.
Some better-ranked stocks in the broader medical space are DaVita Inc. (DVA - Free Report) , Cardinal Health, Inc. (CAH - Free Report) and Cencora, Inc. (COR - Free Report) .
DaVita, sporting a Zacks Rank #1 (Strong Buy), has an estimated long-term growth rate of 12.1%. DVA’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 35.6%. You can see the complete list of today’s Zacks #1 Rank stocks here.
DaVita’s shares have gained 58.3% compared with the industry’s 18.9% rise in the past year.
Cardinal Health, flaunting a Zacks Rank of 1 at present, has an estimated long-term growth rate of 14.2%. CAH’s earnings surpassed estimates in each of the trailing four quarters, with the average being 15.6%.
Cardinal Health has gained 51.9% compared with the industry’s 3.2% rise in the past year.
Cencora, carrying a Zacks Rank of 2 (Buy) at present, has an estimated long-term growth rate of 9.8%. COR’s earnings surpassed estimates in each of the trailing four quarters, with the average surprise being 6.7%.
Cencora’s shares have surged 51.5% compared with the industry’s 3.6% rise in the past year.