QuickView: Profitable and pushing for more
In Q115 Iridex launched a micropulse transscleral cyclophotocoagulation (mTSCPC) unit for glaucoma treatment. In a recent randomized trial, mTPCPC was shown to be as effective as conventional transscleral cyclophotocoagulation (TSCPC) with fewer complications (12% vs 60%). Given the 17 million patient glaucoma market and an EV/sales (FY14) of just 1.7x, there is significant upside if mTSCPC gains adoptionIRIDEX is an ophthalmic medical technology company focused on the development and commercialization of products and procedures used to treat sight-threatening eye conditions, including glaucoma and retinal diseases. Certain of the company's laser products are powered by its proprietary MicroPulse? technology. The company provides three product categories: laser consoles; delivery devices which are optical-mechanical products that mount to ophthalmologist's diagnostic equipment and transmit the laser; and single-use disposable probes that transmit the laser light to a targeted region within the inside of an eye.
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