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Investing.com -- Clearside Biomedical, Inc. (NASDAQ:CLSD) stock fell 0.7% on Thursday after the company announced plans to explore strategic alternatives to advance its proprietary Suprachoroidal Space delivery platform and ophthalmology pipeline.
The biopharmaceutical company said it has retained Piper Sandler to support the strategic evaluation process, which could include the sale, license, monetization or divestiture of assets, as well as potential collaborations, partnerships, mergers or acquisitions.
As part of the process, Clearside is implementing significant cost-cutting measures. All employees, including the CEO, CFO, and CMO, will transition to consulting roles this week, and the company will pause all internal research and development programs during the review.
"Given the current unpredictable economic environment and challenging fundraising conditions in the biopharmaceutical industry, we are taking the necessary next steps to evaluate strategic alternatives for the Company," said George Lasezkay, President and CEO of Clearside.
The company highlighted its SCS Microinjector platform, which enables in-office, non-surgical delivery of therapies to the back of the eye for retinal diseases. Clearside’s lead asset, CLS-AX, is Phase 3-ready for wet AMD (NASDAQ:AMD) treatment following a successful end-of-Phase 2 meeting with the FDA in February 2025.
Clearside also noted its commercial partnerships, with its technology being utilized by companies including Aura Biosciences, Bausch + Lomb, BioCryst Pharmaceuticals (NASDAQ:BCRX), REGENXBIO, AbbVie (NYSE:ABBV), Arctic Vision, and Santen.
The company emphasized that no agreement for any strategic transaction has been reached, and there is no guarantee that the process will result in a transaction. Clearside has not set a timetable for the strategic review and does not plan to provide updates until the Board approves a specific action.
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