RTTNews | Jul 20, 2021 10:00AM EDT

10:00 Tuesday, July 20, 2021 (RTTNews.com) - Shares of Glaukos Corp. (GKOS) are currently slipping nearly 15% despite no stock-related news to drive the shares. The stock has been dropping since last week, when the Centers for Medicare and Medicaid Services (CMS) released new fee schedule for calendar year 2022.

GKOS is currently trading at $48.06, down $8.25 or 14.65%, on the Nasdaq. The stock has tanked nearly 35% in past 5 days and over 40% in past one month. The stock has traded between $39.58 and $99.00 in the 52 week period.

Last Wednesday, Glaukos, an ophthalmic medical technology, said it was disappointed over CMS' proposed physician fees for its trabecular microbutton bypass technology, that's used in conjunction with cataract surgery.

Glaukos estimates a proposed 2022 physician fee for Category I CPT Code 669X2 of about $565.23, representing incremental physician fee payment for the insertion of an aqueous draining device of around $34.25 versus the proposed 2022 physician fee of approximately $530.98 for Category I CPT Code 66984.

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