@font-face{font-family:"Cambria Math";panose-1:2 4 5 3 5 4 6 3 2 4;mso-font-charset:0;mso-generic-font-family:roman;mso-font-pitch:variable;mso-font-signature:-536869121 1107305727 33554432 0 415 0;}@font-face{font-family:Aptos;mso-font-charset:0;mso-generic-font-family:swiss;mso-font-pitch:variable;mso-font-signature:536871559 3 0 0 415 0;}p.MsoNormal, li.MsoNormal, div.MsoNormal{mso-style-unhide:no;mso-style-qformat:yes;mso-style-parent:"";margin-top:0in;margin-right:0in;margin-bottom:8.0pt;margin-left:0in;line-height:115%;mso-pagination:widow-orphan;font-size:12.0pt;font-family:"Aptos",sans-serif;mso-ascii-font-family:Aptos;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:Aptos;mso-fareast-theme-font:minor-latin;mso-hansi-font-family:Aptos;mso-hansi-theme-font:minor-latin;mso-bidi-font-family:"Times New Roman";mso-bidi-theme-font:minor-bidi;mso-font-kerning:1.0pt;mso-ligatures:standardcontextual;}a:link, span.MsoHyperlink{mso-style-priority:99;color:#467886;mso-themecolor:hyperlink;text-decoration:underline;text-underline:single;}a:visited, span.MsoHyperlinkFollowed{mso-style-noshow:yes;mso-style-priority:99;color:#96607D;mso-themecolor:followedhyperlink;text-decoration:underline;text-underline:single;}.MsoChpDefault{mso-style-type:export-only;mso-default-props:yes;font-family:"Aptos",sans-serif;mso-ascii-font-family:Aptos;mso-ascii-theme-font:minor-latin;mso-fareast-font-family:Aptos;mso-fareast-theme-font:minor-latin;mso-hansi-font-family:Aptos;mso-hansi-theme-font:minor-latin;mso-bidi-font-family:"Times New Roman";mso-bidi-theme-font:minor-bidi;}.MsoPapDefault{mso-style-type:export-only;margin-bottom:8.0pt;lin Glaukos GKOS announced that its innovative keratoconus treatment, Epioxa (Epioxa HD / Epioxa), was assigned a permanent HCPCS J-code — J2789 — by the U.S. Centers for Medicare and Medicaid Services (“CMS”).
The J-code becomes effective from July 1, 2026, and is expected to streamline how Epioxa is reported and reimbursed by U.S. payers over time.
Per management, the new product-specific J-code for Epioxa is an important step in improving market access, helping expand coverage for keratoconus patients. Once active, this new J-code should simplify reimbursement, strengthen the foundation of commercial launch and improve patient access over time.
Likely Trend of GKOS Stock Following the News
Following the announcement, GKOS shares gained 0.4% at yesterday’s closing. In the year-to-date period, shares of the company have climbed 7.1% against the industry’s 11.6% decline. However, the S&P 500 has risen 1.9% during the same time frame.
In the long run, the J-code assignment for Epioxa positions Glaukos for a scalable growth trajectory. With streamlined reimbursement and improved payer clarity, the company can drive broader physician adoption and patient access. This milestone reduces administrative friction, enhances commercial execution and supports predictable revenue expansion. Coupled with Epioxa’s differentiated, non-invasive profile, Glaukos is well-positioned to strengthen its leadership in corneal therapies and deliver sustained growth in the keratoconus treatment landscape.
GKOS currently has a market capitalization of $7 billion.
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More on the News
Epioxa itself represents a breakthrough in keratoconus treatment, providing an incision-free alternative to traditional corneal cross-linking by preserving the corneal epithelium. This oxygen-enriched, UV-activated topical therapy is designed to reduce pain, streamline the procedure and shorten recovery time, while delivering strong clinical results and value.
J-codes are used by U.S. healthcare providers to report treatments, and by government and commercial payers to simplify billing and reimbursement for physician-administered drugs like Epioxa. With the assignment of J2789, Glaukos is well-positioned to improve coverage consistency and reduce administrative friction for providers treating keratoconus.
Industry Prospects Favoring the Market
Going by the data provided by Research Nester, the keratoconus treatment market is valued at $584.6 million in 2026 and is expected to witness a CAGR of 4.2% through 2035.
Factors like the rising prevalence of keratoconus, increased awareness of advanced non-invasive treatment, rising geriatric population and the continuous advancement of diagnostic technologies are boosting the market’s growth.
Other News
In January, Glaukos announced the FDA approval for the company’s NDA labeling supplement, permitting unlimited re-administration of iDose TR in eligible patients. This approval expands the product’s treatment flexibility and reinforces confidence in its long-term therapeutic profile.
Glaukos Corporation Price
Glaukos Corporation price | Glaukos Corporation Quote
GKOS’ Zacks Rank & Stocks to Consider
Currently, GKOS has a Zacks Rank #4 (Sell).
Some better-ranked stocks from the broader medical space are Pacific Biosciences of California PACB, Phibro Animal Health PAHC and GE HealthCare Technologies GEHC.
Pacific Biosciences of California, currently sporting a Zacks Rank #1 (Strong Buy), reported a fourth-quarter 2025 adjusted loss of 12 cents per share, 36.8% narrower than the Zacks Consensus Estimate. Revenues of $44.6 million beat the Zacks Consensus Estimate by 9.4%. You can see the complete list of today’s Zacks #1 Rankstocks here.
PACB has an estimated earnings recession rate of 1.9% compared with the industry’s 12.9% rise. The company’s earnings beat estimates in the trailing four quarters, the average surprise being 27.7%.
Phibro Animal Health, currently carrying a Zacks Rank #2 (Buy), reported second-quarter fiscal 2026 adjusted earnings per share (EPS) of 87 cents, which surpassed the Zacks Consensus Estimate by 27.1%. Revenues of $373.9 million beat the Zacks Consensus Estimate by 4.7%.
PAHC has an estimated long-term earnings growth rate of 21.5% compared with the industry’s 12.1% rise. The company’s earnings beat estimates in the trailing four quarters, the average surprise being 20.1%.
GE HealthCare Technologies, currently carrying a Zacks Rank #2, reported fourth-quarter 2025 adjusted EPS of $1.44, which surpassed the Zacks Consensus Estimate by 0.7%. Revenues of $5.7 billion beat the Zacks Consensus Estimate by 1.9%.
GEHC has an estimated long-term earnings growth rate of 9.1% compared with the industry’s 12.1% rise. The company beat earnings estimates in the trailing four quarters, the average surprise being 7.5%.
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Pacific Biosciences of California, Inc. (PACB): Free Stock Analysis Report
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This article originally published on Zacks Investment Research (zacks.com).