Wedbush Remains Bullish on Clearside Biomedical (CLSD) Following Annual ASRS Meeting Presentation
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Wedbush reiterated an Outperform rating and $28.00 price target on Clearside Biomedical (NASDAQ: CLSD) as the company presents follow-on results from its trials of Zuprata. During the Q&A presenters answered questions about improved safety including: the lack of elevated IOP, lack of hemorrhage, and lack of cataracts.
Analyst Liana Moussatos commented, "Dr. Steven Yeh (Emory University), Dr. Seenu Hariprasad (University of Chicago) and Dr. Shree Kurup will be giving oral presentations on data from Clearside’s Phase 2 (DOGWOOD) and Phase 1/2 trials. Abstracts for the presentations are currently embargoed; however, we anticipate results to corroborate previously released positive topline Phase 2 data reported in early January. Recall the Phase 2 trial met its primary endpoint of improvement from baseline in central subfield thickness at eight weeks after a single injection of Zuprata (p=0.0018) and improvement in best-corrected visual acuity (p=0.0004), an important secondary endpoint. We look to the presentations for additional data pointing to further improvement in inflammation, including reduction in anterior chamber cells and chamber flare, and improvement in vitreous haze."
Shares of Clearside Biomedical closed at $7.19 yesterday.
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