Shares of Glaukos are down about 3.7% today, with the trading action consistent with a catalyst-light selloff that’s re-centering on reimbursement risk for the company’s glaucoma implant franchise. The key issue is iDose TR’s reimbursement pathway, where prior Medicare contractor activity and meeting attention created an overhang that can reappear quickly when the stock is weak or broader markets are risk-off. (investing.com)

Glaukos’ growth narrative depends heavily on scaling iDose TR utilization, and reimbursement clarity is the gating factor for smoother adoption. Earlier investor concern was tied to Medicare contractor advisory focus on anterior-segment drug-eluting implants (a category that includes iDose), which injected uncertainty into what had been perceived as a clearer coverage trajectory. (investing.com)

While not necessarily a same-day trigger, insider-sale headlines and planned selling programs have been part of the backdrop for GKOS since January. The company’s 2025 Form 10-K disclosed 10b5-1 trading plans that could begin sales starting March 16, 2026, and earlier reports highlighted sizable CEO sales executed under a prearranged plan—factors that can weigh on sentiment during down tape sessions. (sec.gov)

Traders will be monitoring for any fresh reimbursement-related updates, including signals from Medicare contractor processes that could reduce—or increase—uncertainty around iDose TR economics. Separately, investors will look for evidence that commercial execution is tracking toward Glaukos’ 2026 revenue outlook reaffirmed around its Q4/FY2025 update cycle, since a re-acceleration in visible demand can help offset reimbursement and sentiment-driven drawdowns. (investors.glaukos.com)