Clearside Biomedical Announces $85 Million Public Offering

March 9, 2018: By Jon Swedien

Clearside Biomedical intends sell $85 million of shares in an underwritten public offering, the company announced March 7.

The Alpharetta, Georgia, company plans to offer more than 6.5 million shares of its common stock at $13 per share. The offering is expected to close March 12.

Clearside said it intends to use some of the proceeds to submit an NDA for suprachoroidal CLS-TA for macular edema associated with non-infectious uveitis and, if the candidate is approved, to invest in its commercialization and marketing.

CLS-TA is Clearside’s proprietary suspension of the corticosteroid triamcinolone acetonide formulated for administration to the back of the eye via the suprachoroidal space.

The company also plans to use proceeds to continue its Phase III SAPPHIRE clinical trial for its retinal vein occlusion (RVO) program, complete its Phase II TYBEE clinical trial for its diabetic macular edema program, initiate its second Phase III TOPAZ clinical trial for its RVO program, continue research and development of earlier-stage programs, and for working capital and general corporate purposes.

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