Logotype for Clearside Biomedical Inc

Clearside Biomedical (CLSDQ) Q3 2024 earnings summary

Event summary combining transcript, slides, and related documents.

Logotype for Clearside Biomedical Inc

Q3 2024 earnings summary

14 Jan, 2026

Executive summary

  • Positive Phase 2b Odyssey trial results for CLS-AX in wet AMD met all primary and secondary endpoints, demonstrating strong efficacy, safety, and flexible redosing, supporting advancement to Phase 3.

  • Suprachoroidal delivery platform validated by commercial and clinical partnerships, including new collaborations in Asia-Pacific, Santen, Arctic Vision, and major pharma companies.

  • XIPERE is the first FDA-approved product for uveitic macular edema; ARVN001 (XIPERE) is under regulatory review in Australia and Singapore.

  • Key management changes include Tony Gibney as Board Chair and expanded responsibilities for Victor Chong; Dr. Glenn Yiu joined the Scientific Advisory Board.

  • Net loss for Q3 2024 was $7.7 million, improved from $9.3 million in Q3 2023; nine-month net loss was $27.0 million.

Financial highlights

  • Cash, cash equivalents, and short-term investments totaled $23.6 million as of September 30, 2024, expected to fund operations into Q3 2025.

  • Q3 2024 revenue was $1.0 million, up from $0.9 million in Q3 2023; nine-month revenue was $1.4 million, down from $1.9 million year-over-year.

  • Research and development expenses decreased to $4.1 million in Q3 2024 from $5.1 million in Q3 2023, mainly due to lower CLS-AX program costs.

  • General and administrative expenses rose to $2.8 million in Q3 2024 from $2.6 million in Q3 2023, driven by higher patent and consulting fees.

  • Net cash used in operations was $19.4 million for the nine months ended September 30, 2024.

Outlook and guidance

  • Planning two Phase 3 trials for CLS-AX in wet AMD, with an End-of-Phase 2 FDA meeting expected in early 2025 and trial initiation targeted for the second half of 2025.

  • Ongoing research to advance small molecule candidates for geographic atrophy, with IND timing yet to be determined.

  • Expects continued operating losses and negative cash flows until significant milestone or royalty revenue is generated.

  • Additional Odyssey data to be presented at upcoming medical conferences in Asia, Europe, and the US.

  • Additional capital will be required to complete CLS-AX development and other programs.

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