Clearside Biomedical slips on lower Q3 revenue, wider-than-expected loss

Clearside Biomedical,

09/11/2022 16:06

(Updates)
    ** Shares of drug developer Clearside Biomedical Inc
 CLSD.O  fall 7.9% to $1.3 
    ** Co reports Q3 diluted loss of 13 cents​​/shr, wider than
analysts' estimates for a loss of 3 cents - Refinitiv 
    ** CLSD's revenue fell 91.3% to $266,000 vs $3.07 mln a year
earlier, also below analysts' expectations of $6.52 mln
    ** Co's license and other revenue quarter for Q3 was $0.3
mln, compared to $3.1 mln due to higher revenue from partner
licensing agreements in Q3 2021 
    ** Co shares rose as much as 9.2% in premarket trade on
reporting positive data from early-to-mid-stage trial of eye
disorder drug CLS-AX in treating wet age-related macular
degeneration (wet AMD) in patients
    ** Including session's move, stock down ~53% YTD
 (Reporting by Pratik Jain)
 ((Pratik.Jain@thomsonreuters.com))