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Clearside Biomedical posts Street-beating Q4, full year results

March 14, 2018 By Sarah Faulkner

Clearside BiomedicalShares in Clearside Biomedical (NSDQ:CLSD) fell today even though the biopharmaceutical company topped sales and earnings estimates on Wall Street with its fourth quarter and full year results.

The Alpharetta, Ga.-based company posted a net loss of -$16.5 million on sales of $55,000 for the three months ended Dec. 31, for bottom-line loss of -70% on sales growth of >100% compared with the same period last year.

Adjusted to exclude 1-time items, earnings per share were -65¢, ahead of consensus on The Street, where analysts were looking for sales of $20,000.

For the full year, Clearside posted a net loss of -$58.9 million on sales of $345,000 for the three months ended Dec. 31, for bottom-line loss of >100% on sales growth of -33.7% compared with 2016.

Earnings per share were -$2.33, ahead of consensus on The Street, where analysts were looking for sales of $270,000.

“Last week’s release of positive topline data from our pivotal Phase III Peachtree trial represents the achievement of a major milestone for Clearside, and a critical inflection point, providing us with the requisite clinical information to begin the process of filing an NDA and the potential opportunity to transition from a clinical-stage to a commercial-stage company,” president & CEO Daniel White said in prepared remarks.

“Armed with our proprietary suprachoroidal approach to treatment, a focused pipeline of product candidates for multiple blinding eye diseases, extensive safety and efficacy data from our completed clinical trials, and a management team with a strong track record in both R&D and commercialization, we have never been more confident in Clearside’s ability to do great things in ophthalmology.  We have a number of additional key milestones coming up over the course of 2018, and look forward to updating you as we continue to progress,” he added.

CLSD shares were trading at $12.11 apiece today in morning activity, down -2.6%.

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Filed Under: Drug-Device Combinations, Featured, MassDevice Earnings Roundup, Optical/Ophthalmic, Pharmaceuticals, Wall Street Beat Tagged With: Clearside Biomedical

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