Thursday, the FDA approved Glaukos Corporation's (NYSE:GKOS) marketing application for a single administration per eye of iDose TR (travoprost intracameral implant) 75 mcg, a prostaglandin analog indicated for the reduction of intraocular pressure in patients with ocular hypertension or open-angle glaucoma.

Glaukos has set a wholesale acquisition cost of $13,950 per dose (or implant) for iDose TR, spanning three years of therapy. This figure stands four times higher than initial estimates of $3,000-$4,000 per implant. While there might be slight deviations from this price, it notably surpasses expectations. The company clarified that this pricing decision was independent of the final FDA label. Based on an estimated target population of 1 million eyes, this positions the domestic market opportunity at exceeding $10 billion.