Celanese (CE) & Glaukos Join Forces for Glaucoma Treatment
Celanese Corporation CE has signed a deal with Glaukos Corporation to supply its VitalDose Drug Delivery Platform. This platform will be included in Glaukos’ iDose TR, a micro-invasive intraocular implant designed to decrease intraocular pressure in patients with primary open-angle glaucoma or ocular hypertension.
The iDose TR aims to address the problem of non-adherence to topical medications and associated chronic side effects by providing continuous, long-lasting therapy for 24 hours a day. Currently, Glaukos is awaiting approval by the U.S. Food and Drug Administration of the New Drug Application it submitted for iDose TR in February 2023.
Treating glaucoma through sustained delivery of therapeutics has gained significant importance over time. The VitalDose Drug Delivery Platform offers a promising solution by enabling continuous dosing, which can effectively mitigate challenges related to patient compliance and adherence.
Celanese stated that its mission to enhance the health of individuals with chronic eye diseases in the field of ophthalmology is furthered by integrating the VitalDose Platform into Glaukos' iDose TR therapy. The company is also enthusiastic about assisting Glaukos in its efforts to introduce iDose TR to patients seeking a new alternative to glaucoma treatment.
Shares of Celanese have lost 24.4% over a year compared with a 5.6% fall recorded by its industry.
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CE, on its fourth-quarter call, said that it expects growth in its quarterly earnings through 2023 on an improvement in demand and the synergies resulting from the Mobility & Materials acquisition. Factoring in all this, it expects its adjusted earnings to be in the range of $1.50-$1.75 per share for the first quarter of 2023.
Celanese Corporation Price and Consensus
Celanese Corporation price-consensus-chart | Celanese Corporation Quote
Zacks Rank & Key Picks
Celanese currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the basic materials space are Olympic Steel, Inc. ZEUS, Steel Dynamics, Inc. STLD and Linde plc LIN. LIN currently carries a Zacks Rank #2 (Buy), while ZEUS and STLD sport a Zacks Rank #1(Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.
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