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On Friday, JMP Securities analyst Jonathan Wolleben reaffirmed a Market Outperform rating on Clearside Biomedical (NASDAQ:CLSD) with a steady price target of $5.00. The $66.81 million market cap company, which according to InvestingPro analysis is currently fairly valued, has analyst targets ranging from $3.00 to $8.00 per share. Wolleben’s assessment comes as Clearside Biomedical prepares to initiate pivotal trials for its wet Age-related Macular Degeneration (AMD (NASDAQ:AMD)) treatment, CLS-AX™. The analyst expressed optimism about the upcoming trials, anticipating that they will showcase CLS-AX™’s distinctive product characteristics.
Wolleben highlighted the potential of CLS-AX™ to stand out in the treatment landscape due to its re-dosing flexibility. This aspect could allow physicians to tailor the treatment to individual patients’ needs and adjust dosing intervals accordingly. Such a feature is expected to position CLS-AX™ as a strong competitor in the market, particularly with new post hoc analyses from the ODYSSEY study indicating that CLS-AX™ can achieve six-month rescue-free rates comparable to those of its TKI competitors when evaluated under similar rescue criteria. The company maintains impressive gross profit margins of 89.45%, according to InvestingPro data, which shows 7 additional key insights available to subscribers.
The company’s financial position was also noted, with Clearside Biomedical having sufficient cash to fund operations into the fourth quarter of 2025. With current revenues of $3.76 million and a significant cash burn rate, Management is actively engaged in efforts to secure the necessary capital to commence the pivotal program in the second half of 2025. The analyst’s comments reflect confidence in the company’s strategic direction and the potential market impact of its flagship product, CLS-AX™. Discover more detailed financial analysis in the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Clearside Biomedical reported its fourth-quarter 2024 earnings, revealing a revenue of $306,000, significantly beating the forecast of $130,140. The earnings per share (EPS) met expectations at -0.1. Despite the positive revenue results, the company is actively seeking additional funding to support its Phase 3 trials for the CLS-AX treatment for wet age-related macular degeneration (AMD), expected to commence in the second half of 2025. Analysts from Stifel have maintained a Buy rating with an $8.00 price target, highlighting the company’s progress towards Phase 3 trials following a successful End of Phase 2 meeting with the FDA. JMP Securities also reaffirmed a Market Outperform rating and a $5.00 price target, citing the company’s strategic initiatives and upcoming pivotal trials. Clearside Biomedical is exploring strategic partnerships to bolster its financial position, with cash reserves reported at $20 million as of the end of 2024. The company’s partnered programs, including collaborations with Regenxbio and Aura Biosciences, are advancing, with several treatments moving into late-stage development.
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