ALISO VIEJO, Calif.—Glaukos Corporation (NYSE: GKOS), an ophthalmic pharmaceutical and medical technology company focused on therapies for the treatment of glaucoma, corneal disorders, and retinal diseases, has announced financial results for the first quarter ended March 31, 2024. Net sales in the first quarter of 2024 increased 16 percent to $85.6 million, compared with $73.9 million in the same period in 2023. The company also raised 2024 net sales guidance to a range of $357 million to $365 million, compared with a range of $350 million to $360 million previously.

“Our record first quarter results reflect successful global execution of our key strategic plans,” said Thomas Burns, Glaukos chairman and chief executive officer. “We continue to successfully advance our robust pipeline of novel, dropless platform technologies designed to meaningfully advance the standard of care and improve outcomes for patients suffering from chronic eye diseases.”

Net loss in the first quarter of 2024 was $40.8 million compared with a net loss of $34.6 million in the first quarter of 2023, the company reported. In addition, it reported glaucoma record net sales of $67.2 million in the first quarter, an increase of 20 percent year-over-year, along with corneal health net sales of $18.4 million, a 4 percent increase year-over-year.

Gross margin for the first quarter of 2024 was approximately 76 percent, compared with approximately 76 percent in the same period in 2023, according to the report. Loss from operations in the first quarter was $39.1 million, compared with an operating loss of $33.0 million in the first quarter of 2023.

The company also shared that it ended the first quarter of 2024 with approximately $279 million in cash and cash equivalents, short-term investments and restricted cash.