Celanese (CE) Announces Commercial Launch of Glaukos' iDose TR
Celanese Corporation CE recently announced the launch of Glaukos Corporation's iDose TR. This uses CE's VitalDose EVA to offer continuous medication release for the treatment of glaucoma.
The majority of glaucoma and ocular hypertension patients do not adhere to topical drug regimens due to complex dosing courses, adverse effects and eye-drop sensitivity. Sustained delivery of medications is a significant technique for addressing noncompliance and enhancing treatment results. With iDose TR and VitalDose EVA, it is now possible to give continuous dosing, which can increase patient compliance and alleviate adherence concerns.
Food and Drug Administration (FDA) approved iDose TR in December 2023. It is a first-of-its-kind, long-duration, intracameral procedural pharmaceutical therapy designed to continuously deliver therapeutic levels of a proprietary travoprost formulation inside the eye for extended periods of time. iDose TR was approved following the completion of two pivotal trials which demonstrated safety and efficacy.
Glaukos used VitalDose EVA to develop a nanoporous membrane for travoprost administration in iDose TR. The VitalDose EVA is a platform that can be formulated into a variety of form factors to meet the drug delivery needs of diverse conditions. The VitalDose EVA Drug Delivery Platform has a long history of usage in approved parenteral medication solutions in the United States and Europe, and it delivers consistent, controlled-release performance.
Shares of Celanese have gained 27.8% over the past year compared with 20.7% growth of its industry.
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Celanese expects adjusted earnings of $1.75-$2.00 per share for the first quarter of 2024. The projection includes the expected roughly 30 cents impact from the Mobility & Materials (M&M) amortization.
The company anticipates a significant rise in earnings per share from the year-ago levels in 2024 due to M&M synergy capture, Clear Lake acetic acid and methanol expansions, lower interest expenses from deleveraging and reduced inventory costs.
Celanese Corporation Price and Consensus
Celanese Corporation price-consensus-chart | Celanese Corporation Quote
Zacks Rank & Key Picks
Celanese currently carries a Zacks Rank #4 (Sell).
Some better-ranked stocks in the basic materials space are United States Steel Corporation X, Carpenter Technology Corporation CRS and Alpha Metallurgical Resources Inc. AMR.
United States Steel currently sports a Zacks Rank #1 (Strong Buy). X beat the Zacks Consensus Estimate in each of the last four quarters, with the average earnings surprise being 54.8%. The company’s shares have soared 58.1% in the past year. You can see the complete list of today’s Zacks #1 Rank stocks here.
Carpenter Technology currently carries a Zacks Rank #2 (Buy). CRS beat the Zacks Consensus Estimate in three of the last four quarters while matching it once, with the average earnings surprise being 12.2%. The company’s shares have gained 31.7% in the past year.
The Zacks Consensus Estimate for AMR’s current-year earnings has been revised upward by 69% in the past 60 days. It currently flaunts a Zacks Rank #1. AMR delivered a trailing four-quarter earnings surprise of roughly 9.6%, on average. AMR shares are up 113.1% in a year.
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