Shares in Clearside Biomedical (NSDQ:CLSD) fell slightly today after the biopharmaceutical company missed earnings expectations on Wall Street with its second quarter results.
The Alpharetta, Ga.-based company posted a net loss of -$13.8 million on sales of $130,000 for the 3 months ended June 30, for bottom-line loss of -169% compared with the same period last year.
Adjusted to exclude 1-time items, earnings per share were -54¢, behind consensus on The Street, where analysts were expecting -41¢.
“Clearside’s pursuit of transformative, elegant, precise solutions to restore and preserve vision resulted in the achievement of a number of recent key milestones,” president & CEO Daniel White said in prepared remarks. “Noteworthy among those was completion of patient enrollment in our pivotal Phase III trial for the treatment of macular edema associated with non-infectious uveitis, Clearside’s most advanced clinical development program, and the enrollment of the first patient in our Phase III trial for the treatment of patients with macular edema associated with retinal vein occlusion.”
CLSD shares were trading at $7.84 apiece today in morning activity, down -1.6%.
In July, Clearside enrolled the first patient in a Phase II clinical trial of CLS-TA in patients with diabetic macular edema.
The trial plans to evaluate Clearside’s suspension formulation of a corticosteroid, triamcinolone acetonide, as a suprachoroidal injection in combination with an intravitreal injection of Eylea, an anti-VEGF agent.
