Glaukos up 18% premarket on Alcon voluntary withdrawal of rival eye stent

Glaukos (NYSE:GKOS) is up 18% premarket on light volume in response to Novartis (NYSE:NVS) unit Alcon’s decision to voluntarily withdraw its CyPass MIcro-Stent from the market due to lack of efficacy. Specifically, an analysis of five-year post-cataract surgery data from the COMPASS-XT study showed little difference in endothelial cell loss in patients receiving CyPass compared to those who underwent cataract surgery only.

The device, approved by the FDA a little over two years ago, is used to reduce intraocular pressure in glaucoma patients.

Glaukos markets its iStent for the same indication.

Novartis is down 1% premarket albeit on only 400 shares.

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