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Thorp Clay, a director at Clearside Biomedical, Inc. (NASDAQ:CLSD), recently acquired 15,000 shares of the company’s common stock. The micro-cap biotech company, currently valued at $67.7 million, has seen its stock decline over 11% in the past week according to InvestingPro data. The purchase, which occurred on February 24, was made at a weighted average price of approximately $0.92 per share, with transaction prices ranging from $0.90 to $0.9321. Following this acquisition, Clay now holds 176,141 shares directly. This transaction adds to his existing holdings, which include shares received from a pro rata distribution by Hatteras Venture Advisors and related entities. InvestingPro analysis shows the company maintains strong liquidity with a current ratio of 4.49, though it’s currently burning through cash. Get access to 8 more exclusive InvestingPro Tips and comprehensive financial analysis through the Pro Research Report.
In other recent news, Clearside Biomedical, Inc. has announced that the China National Medical (TASE:BLWV) Products Administration has accepted Arctic Vision’s New Drug Application for ARCATUS®. This drug, known as XIPERE® in the U.S., is designed to treat uveitic macular edema and has already been approved in the United States, Australia, and Singapore. Additionally, Clearside presented key subgroup analyses from its ODYSSEY Phase 2b clinical trial, which will inform the upcoming Phase 3 clinical development for CLS-AX in treating wet age-related macular degeneration. The trial results indicated that CLS-AX could provide a durable treatment option, with 67% of patients not requiring additional treatment for six months. Clearside also showcased its suprachoroidal delivery technology at recent conferences, emphasizing the interest from the medical community. The company highlighted the use of its SCS Microinjector® in over 10,000 injections, demonstrating its expertise in ocular therapy delivery. Clearside plans to continue developing its pipeline of small molecule product candidates, including a Phase 3 program for CLS-AX. These developments reflect Clearside’s ongoing efforts to advance treatments for ocular diseases.
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