$CLSD reports Q4 and FY 2022 results and updated clinical progress.
Mar 9th 2023, 9:16 pm
Analyst Summary: Clearside Biomedical, Inc. has reported its Q4 and FY 2022 financial results along with a corporate update. The company achieved significant progress in its internal CLS-AX (axitinib injectable suspension) clinical program and reinforced its belief in the potential of CLS-AX in reducing treatment burden in patients with wet AMD while maintaining stable visual acuity. Clearside plans to conduct a randomized, double-masked Phase 2b clinical trial in wet AMD participants, called ODYSSEY. The company's proprietary SCS Microinjector for suprachoroidal delivery received training by over 1,000 retinal physicians, and their licensing partner, Aura Biosciences, chose the suprachoroidal route of administration to evaluate the efficacy and safety of bel-sar in early-stage choroidal melanoma. In Q4 2022, the company's total revenue was $0.3 million compared to $25.7 million in Q4 2021. Clearside Biomedical is confident it has sufficient resources to fund its planned operations through Q2 2024. Quotes: “Based on our internal clinical data from the Phase 2a clinical trial reinforcing our belief that CLS-AX has the potential to reduce treatment burden in patients with wet AMD while maintaining stable visual acuity.” - George Lasezkay, Pharm.D., J.D., President, and CEO. "We believe there is increasing acceptance of treating serious retinal diseases through the SCS." - George Lasezkay, Pharm.D., J.D., President and CEO. “We plan to adjust our trial design to use on-label aflibercept dosing in the comparator arm of ODYSSEY.” - George Lasezkay, Pharm.D., J.D., President, and CEO. Cautionary Note Regarding Forward-Looking Statements: The company's statements reflect its current beliefs and expectations, with risks and uncertainties that could differ materially from those reflected in such statements with factors described in Clearside's Annual Report on Form 10-K for the year ended December 31, 2021, filed with the U.S, including Clearside's other periodic reports filed with the SEC.