Glaukos Corporation shares fell more than 13% on Thursday after an insider sale by the company's chief development officer, Tomas Navratil, overshadowed positive late-stage trial data for its Epioxa eye therapy. According to a regulatory filing on Tuesday, Navratil sold more than 1,500 shares in three transactions at an average range of $163.93 to $165.60, consistent with a 10b5-1 trading plan adopted on June 12. The transactions, valued at $251.1K in total, took place on Monday and lowered Navratil's stake in the company by nearly 2% to 69,291 shares. The disclosure overshadowed a Wednesday announcement that three-year results from a Phase 3 extension study showed a single Epioxa treatment, approved in the U.S. to treat keratoconus, can deliver durable efficacy with a favorable long-term safety profile. Separately on Thursday, Glaukos announced an exclusive license agreement with privately held RevOpsis Therapeutics to develop and commercialize RO-104, an experimental therapy for multiple retinal diseases, and said it also receives exclusive rights to RevOpsis' proprietary RevMod platform to develop up to four more retinal biologics; financial terms were not disclosed.
Glaukos CorpChief development officer Tomas Navratil sold over 1,500 shares, and the insider sale overshadowed positive trial news, driving shares down 13%.
Privately held RevOpsis granted Glaukos an exclusive license to RO-104 and its RevMod platform, but financial terms were not disclosed.
