ALPHARETTA, Ga., March 06, 2018 (GLOBE NEWSWIRE) -- Clearside Biomedical, Inc. (NASDAQ:CLSD), a late-stage clinical biopharmaceutical company developing first-in-class drug therapies to treat back-of-the-eye diseases, today announced that it intends to offer and sell, subject to market conditions, $75 million of shares of its common stock in an underwritten public offering. All of the shares of common stock to be sold in the offering will be offered by Clearside. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or the actual size or terms of the offering.
Clearside intends to use the net proceeds of the offering to prepare and submit an NDA for suprachoroidal CLS-TA for the treatment of patients with macular edema associated with non-infectious uveitis and to invest in commercialization and marketing of suprachoroidal CLS-TA, if approved. In addition, Clearside intends to use the net proceeds to continue its Phase 3 SAPPHIRE clinical trial for its RVO program, complete its Phase 2 TYBEE clinical trial for its DME program and initiate its second Phase 3 TOPAZ clinical trial for its RVO program, as well as for continued research and development of its earlier-stage programs, working capital and general corporate purposes.
J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint book-running managers for the offering. Stifel, Nicolaus & Company, Incorporated is acting as a passive book-running manager and Needham & Company, LLC and Wedbush Securities Inc. are acting as co-managers for the offering. Clearside intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of its common stock offered in the public offering.
About Clearside Biomedical, Inc.
Clearside Biomedical, Inc., headquartered in Alpharetta, GA, is a publicly traded, ophthalmic biopharmaceutical company that envisions a world without blindness. Clearside relentlessly pursues transformative, elegant, precise solutions to restore and preserve vision. Clearside is developing advanced clinical and nonclinical candidates using a proprietary treatment approach offering unprecedented access to the back of the eye through the suprachoroidal space (SCS™). This offers potentially meaningful treatment benefits to patients suffering from sight threatening diseases like uveitis, retinal vein occlusion, diabetic macular edema and wet age-related macular degeneration.
