Clearside Biomedical

Clearside Biomedical filed Form 25 with the SEC following a Chapter 11 petition to terminate the listing of its common stock on NASDAQ. Nasdaq trading was suspended as of Dec. 1; the stock has since been trading on the OTC Pink Market under the symbol CLSDQ. The delisting can become effective no earlier than Dec. 18, and the withdrawal of registration under Section 12(b) takes effect 90 days after filing, reducing certain SEC reporting obligations. » Więcej na de.investing.com

Clearside Biomedical has filed for Chapter 11 in the U.S. Bankruptcy Court for the District of Delaware and intends to conduct a sale under Section 363 to allow binding bids for all or parts of its assets. The company, with a market capitalization of about $14.24 million, is trading near its 52-week low after a 83.21% decline over the past year. Clearside plans to continue operations during the restructuring and has engaged Cooley LLP, Richards, Layton & Finger and Berkeley Research Group as advisors. Key assets include the SCS-Microinjector platform, the approved product XIPERE, the Phase 3 program CLS-AX and several licensing collaborations; a change to royalty payments with a $3 million payment was also reported. » Więcej na de.investing.com

Clearside Biomedical entered an omnibus amendment with Healthcare Royalty Partners IV under which Clearside received an additional $3 million and in return took ownership of remaining assets of the SCS‑Microinjector technology. The amendment reduces license payments due upon expiration of the purchase agreement from $110.5 million to $106.5 million. The company will file the full contract text in its quarterly report for the period ending September. At the same time, Clearside received approval for XIPERE in Canada but, due to significant financial constraints, faces strategic realignments, has suspended R&D programs and has seen analyst downgrades. » Więcej na de.investing.com

Clearside Biomedical's stock rose by 51% after Health Canada approved the drug XIPERE for the treatment of uveitic macular edema. With this approval, XIPERE is now available in four global markets, while additional approval processes are ongoing. Clearside's SCS Microinjector technology and international licensing agreements are strengthening the company's market position. » Więcej na de.investing.com

Clearside Biomedical has announced that it is exploring strategic alternatives such as a sale, licensing, or partnerships to advance its SCS platform and pipeline. As part of this process, all employees, including management, will move into advisory roles and internal research and development programs will be suspended. The stock saw a slight decline in response to uncertainty about the company's future direction. » Więcej na de.investing.com