Clearside Biomedical Q4 Revenues Surge 2,335%; Shares Up 35%

Clearside Biomedical (NASDAQ: CLSD) shares jumped over 35% during the extended trading session on March 10, after the biopharmaceutical company known for revolutionizing the delivery of eye therapies, delivered a blowout fourth-quarter results massively beating estimates.

The quarterly beat was driven by higher license revenue driven by milestone payments received from its licensing partners for the company’s eye therapy, XIPERE.

Q4 Outperformance

Adjusted earnings of $0.31 per share doubled year-over-year and almost doubled analysts’ expectations of $0.16 per share. Notably, it was a significant improvement over the previous year’s loss of $0.39 per share. 

During the Q4 quarter, revenues totaled $25.7 million, up 2,335% year-over-year, and significantly outperformed the $17.8 million average predictions. In particular, revenues included milestone payments received from XIPERE licensing partners, which acted as the tailwind.

XIPERE Approved and Launched

XIPERE is an injectable suspension of triamcinolone acetonide for suprachoroidal use in the treatment of macular edema associated with uveitis.

In October 2021, XIPERE gained approval from the FDA (Food and Drug Administration) in the U.S. and was subsequently launched.

During the fourth quarter, the company received $20 million in non-dilutive funding related to development, approval and pre-launch milestones from XIPERE’s commercialization partners, Bausch + Lomb and Arctic Vision.

CEO Comments

Clearside CEO, George Lasezkay, Pharm.D., J.D., commented, “Following the approval and launch of XIPERE, the first product approved for suprachoroidal delivery, there is a growing base of retinal specialists trained to use our proprietary SCS Microinjector®. With more than 1,200 clinical injections to date and six clinical trials underway using our technology, we have established our leadership in this space.”

Regarding the Cohort 3 data from its Phase 1/2a OASIS trial, he further added, “We remain on track to report results from Cohort 3 mid-year and we expect to report results from Cohort 4 later this year. We have begun planning for our Phase 2b clinical trial, and we are targeting to open recruitment for this trial by the end of this year.”

Analysts Recommendation

The Wall Street community is cautiously optimistic about the stock, with a Moderate Buy consensus rating based on 4 Buys and 2 Holds. The average Clearside Biomedical stock forecast of $11.50 implies 751.85% upside potential to current levels, at the time of writing.

Bloggers Weigh In

TipRanks data shows that financial blogger opinions are 100% Bullish on CLSD stock, compared to a sector average of 69%.

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