We Attended and Summarized Each MAC Meeting on iDose: Here is What You Need to Know

Research evidence excerpt

We Attended and Summarized Each MAC Meeting on iDose: Here is What You Need to Know

July 5, 2026 Glaukos Corporation

(GKOS, Buy, $162 PT)MEDICAL Ryan Zimmerman

We Attended and Summarized Each MAC Meeting on iDose: Here is (212) 527-3586 rzimmerman@btig.com

What You Need to Know Iseult McMahon

(332) 400-5103 imcmahon@btig.com

WHAT YOU SHOULD KNOW: Over the past several weeks, Medicare Administrative Company Data

Contractors (MACs) hosted their respective open meetings regarding the proposed LCD Closing Price $148.34

for iDose (here). Largely a one-sided discussion, the open meetings are designed to be

Price Target $162.00 a forum for industry and physicians to provide feedback on the proposed LCD during

Market Cap (M) $8,606.98TECHNOLOGY the ongoing comment period (which closed on July 4th). While most of the MACs

did not provide direct feedback on the presentations, we would note that at the CGS Enterprise Value (M) $8,154.85

session, the medical director made pointed commentary around what is considered to Shares Out (M) 58.02

be "reasonable and necessary" for Medicare coverage under the Social Security Act. Avg Daily Vol-3 Months (M) 0.98

This was probably the most feedback investors were able to extract regarding the LCDEQUITY Revisions from that respective medical director. That said, the same medical director noted that

she was leaving the organization and handing off responsibilities for the iDose LCD to Previous Current

another person, so it's difficult to assume that her view carries forward (in our opinion). Rating Buy Buy

Regardless, we summarized each meeting and provided any feedback as to which way Price Target $162.00 $162.00

the MACs may go around the proposed LCD. See the summary table below for further FY26E REV 632.92 632.92

details from each meeting.