Clearside Biomedical Priced, Nasdaq: CLSD

Developing a combination drug-device therapy for eye diseases.

Industry: Health Care

Latest Trade: $7.96 0.00 (0.0%)

First Day Return: +3.6%

Return from IPO: +13.7%

Industry: Health Care

We are a late-stage clinical biopharmaceutical company developing first-in-class drug therapies to treat blinding diseases of the eye. Our current product candidates focus on diseases affecting the retina, which is the tissue that lines the inside of the eye and is primarily responsible for vision, and the choroid, which is the layer adjacent to the retina that supplies the retina with blood, oxygen and nourishment. With our proprietary microinjector, drugs are injected into and spread within and through the suprachoroidal space, which is the space located between the choroid and the outer protective layer of the eye known as the sclera. With the suprachoroidal injection, our product candidates are more directly administered to the retina and choroid as compared to other ocular drug administration techniques such as injections of drug into the vitreous, a jelly-like substance that occupies the central portion of the eye. Intravitreal injections rely on diffusion of drug outward from the vitreous to the retina and choroid. This diffusion can result in lower concentrations of drug in these targeted areas. At the same time, this diffusion can also result in drug spreading to unintended parts of the eye, where, for some drugs, it can cause significant side effects. We believe treatment of eye disease via suprachoroidal injection may provide a number of benefits, including lower frequency of necessary administration and faster onset of therapeutic effect. We hold the exclusive rights to develop and commercialize drugs for treatment via injection into the SCS. We estimate that there are nearly five million people in the United States diagnosed with our target indications and that worldwide annual sales of drugs to treat these indications were over $7 billion in 2015.
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IPO News for Clearside Biomedical
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IPO Data
IPO File Date 01/08/2016
Offer Price $7.00
Price Range $7.00 - $7.00
Offer Shares (mm) 7.2
Deal Size ($mm) $50
IPO Data
IPO Date 06/01/2016
Offer Price $7.00
Price Range $7.00 - $7.00
Offer Shares (mm) 7.2
Deal Size ($mm) $50
Underwriters
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Company Data
Headquarters Alpharetta, GA
Founded 2011
Employees 21
Website www.clearsidebio.com