Clearside Biomedical reports Q3 EPS (15c), consensus (15c)

Reports Q3 revenue $859K, consensus $160K…”We are successfully delivering on our two-pronged strategy of advancing our internal pipeline and expanding the use of our SCS delivery platform through external collaborations,” said George Lasezkay, Pharm.D., J.D., Clearside’s President and Chief Executive Officer. “With the completion of recruitment in our ODYSSEY Phase 2b wet AMD trial, we expect to report topline data in the third quarter of 2024. In addition, we signed a promising new licensing partnership with BioCryst Pharmaceuticals, which enhances our external development pipeline, and expands the utility and versatility of our proprietary SCS injection platform with a new molecule specifically targeting diabetic macular edema .” ..Lasezkay continued, “We are partnering with BioCryst to develop their proprietary plasma kallikrein inhibitor, avoralstat, in combination with our patented SCS Microinjector(R) for patients with DME, the most common cause of vision loss in individuals with diabetes. Avoralstat has high potency and low solubility, characteristics that are ideal for suprachoroidal administration and important to achieving potential efficacy with reduced dosing frequency. Delivering avoralstat into the SCS and behind the visual field could allow avoralstat to inhibit plasma kallikrein directly at the site of edema formation. We believe there is a significant market opportunity in DME utilizing suprachoroidal administration.” “We are excited about the progress all of our partners have reported over the last few weeks utilizing our SCS Microinjector. Bausch + Lomb announced that XIPERE has been granted a new CPT code to help facilitate better access and adoption of the product, and Arctic Vision completed enrollment in their Phase 3 trial in uveitic macular edema. At AAO, REGENXBIO and AURA presented clinically meaningful data in diabetic retinopathy and choroidal melanoma, respectively. These results, combined with the internal progress on our CLS-AX program in wet AMD, reinforce our leadership in suprachoroidal delivery to treat multiple serious retinal diseases,” concluded Dr. Lasezkay.