Clearside Biomedical (CLSD): Notes From Expert Call - Wedbush

August 24, 2016 9:34 AM EDT
Get Alerts CLSD Hot Sheet
Price: $7.69 -6.45%

Rating Summary:
    3 Buy, 0 Hold, 0 Sell

Rating Trend: Up Up

Today's Overall Ratings:
    Up: 30 | Down: 30 | New: 23
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Wedbush analyst, Liana Moussatos, reiterated her Outperform rating on shares of Clearside Biomedical (NASDAQ: CLSD) after hosting an expert call with Dr. Seenu Hariprasad from the University of Chicago who has direct experience with SCS delivery and Clearside’s clinical product candidates.

Ms Moussatos noted "Dr. Hariprasad focused on drug candidates which reduce treatment burden and improve safety while maintaining or improving efficacy. In Phase 2, Clearside’s Zuprata has already demonstrated reduced treatment burden with 60% fewer injections of Eylea in combination with Zuprata for macular edema associated with retinal vein occlusion (ME-RVO). In addition, Zuprata improved safety (no drug-related elevation in IOP or cataracts in either Phase 2 trial) with equal to or better efficacy in terms of reducing retinal thickness and rapidly and durably improving visual acuity in both Phase 2 trials for macular edema associated with non-infectious uveitis (ME-NIU) and for ME-RVO."

The analyst further stated "He sees the potential for Clearside’s proprietary SCS-microinjector to improve drug delivery (and standard of care) for treating wet AMD, diabetic macular edema (DME), and glaucoma. Based on his peer retinal specialists rapidly trying new and improved products, he anticipates broad use of Zuprata about 6-12 months after potential approval (if reliably reimbursed) and recommends that Clearside pursue a new CPT code for SCS delivery as the current CPT 67028 code for intravitreal injections (IVT) is the most used of all medical specialties and he anticipates reduced reimbursement for this code in the future."

No change to the price target of $28.

For an analyst ratings summary and ratings history on Clearside Biomedical click here. For more ratings news on Clearside Biomedical click here.

Shares of Clearside Biomedical closed at $7.45 yesterday.

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