Glaukos Corporation (GKOS)

Glaukos makes micro-implants that lower pressure inside the eye in glaucoma.

Glaucoma develops slowly and irreversibly: sight is lost gradually, while drops must be instilled daily for years and patients do not do it. A tiny stent placed during cataract surgery drains fluid continuously and removes the dependence on patient discipline.

The procedure is performed alongside an operation already scheduled, which removes the main barrier — persuading a patient to accept a separate intervention. The second line is a treatment that strengthens a thinning cornea. Risks: insurer reimbursement decisions, competition from ophthalmic device makers and trial outcomes. The company pays no dividend.