Needham analyst Serge Belanger lowered the firm’s price target on Clearside Biomedical to $4.00 from $5.00 but keeps a Buy rating on the shares. The firm is updating it’s model after the company’s Q4 report indicated that the phase 2b Odyssey trial for CLS-AX that was expected to get underway in late Q1 is undergoing some modifications, with plans now to get underway in Q2 and yield results in the second half of 2024. Needham maintains its positive view on Clearside Biomedical however and believes that the stock’s valuation fails to reflect CLS-AX’s potential in retinal disease.
Published first on TheFly
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