Chardan initiated coverage of Clearside Biomedical with a Buy rating and $6 price target. The company’s CLS-AX program utilizes its proprietary microinjector to deliver axitinib suspension, a pan-VEGF receptor inhibitor, to a suprachoroidal space, with a potential to significantly decrease anti-VEGF treatment burden for patients with wet age-related macular degeneration, the analyst tells investors in a research note. The firm believes Clearside’s SCS delivery platform offers the potential for partnerships and internal pipeline expansion opportunities.
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