ALPHARETTA, Ga.—Clearside Biomedical, Inc. (Nasdaq: CLSD), a biopharmaceutical company delivering therapies to the back of the eye through the suprachoroidal space (SCS), has reported financial results for the third quarter ended September 30, 2024. License and other revenue for the third quarter of 2024 was $1.0 million, compared with $0.9 million for the third quarter of 2023. Net loss for the quarter was $7.7 million compared with a net loss of $9.3 million for the prior-year period.

“We are making outstanding progress advancing our differentiated suprachoroidal delivery pipeline,” said George Lasezkay, PharmD, JD, president and chief executive officer. “The recent positive results from our ODYSSEY trial establish CLS-AX as a phase 3 ready asset in the large and growing wet AMD market. We are positioning CLS-AX for real-world success by focusing on a phase 3 program in wet AMD designed to evaluate extended efficacy duration compared to current standard of care intravitreal products and produce data supportive of a prescribing label that enables physicians to take advantage of flexible maintenance dosing between three and six  months. We look forward to conducting an End-of-Phase 2 meeting with the FDA in early 2025 to align on the essential components of our phase 3 program.”

He added, “As we work to expand the overall value of our suprachoroidal drug delivery platform, we are seeing significant interest among the retinal specialist community and from leading biopharmaceutical companies in applying our innovative approach to treating serious retinal diseases. The recent commercial collaboration announced by Santen Pharmaceutical Co. and our Asia-Pacific partner, Arctic Vision, is a compelling validation of our suprachoroidal platform from a well-respected leader in the global ophthalmic industry. The licensing of ARVN001, branded as XIPERE in the U.S., is part of Santen’s commitment to bringing innovative eyecare solutions to patients in China.”

Research and development expenses for the third quarter of 2024 were reported as $4.1 million, compared with $5.1 million for the third quarter of 2023. General and administrative expenses were $2.8 million for the third quarter of 2024, compared with $2.6 million for the prior-year period. As of September 30, 2024, the company had cash, cash equivalents and short-term investments totaling $23.6 million and said it believes it will have sufficient resources to fund its planned operations into the third quarter of 2025.