Clearside Biomedical Q1 net loss $9.3M; Phase 2b ODYSSEY trial to open Q2 2023

Clearside Biomedical, Inc.

2023-Q1 EPS reported -$0.15 revenue$4,000

Net loss of $9.3M ($0.15 per share) vs $7.6M ($0.13) in Q1 2022.
Cash and equivalents $41.4M; company expects to fund operations into Q2 2024.
R&D expenses flat at $4.5M; G&A down to $3.2M from $3.5M.
Phase 2b ODYSSEY trial of CLS-AX in wet AMD to open enrollment Q2 2023; topline results expected Q3 2024.
Positive safety and duration data from OASIS Phase 1/2a extension study presented at ARVO.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Clearside Biomedical, Inc. reported the first quarter ended March 31, 2023 results: revenue $4,000, net income $9.3 million, EPS $0.15 per share.

Period: the first quarter ended March 31, 2023
Revenue: $4,000
Net income: $9.3 million
EPS: $0.15 per share
Result: reported results

Exact text from the filing

First Quarter 2023 Financial Results • License Revenue: Clearside’s license and other revenue for the first quarter of 2023 was $4,000, compared to $347,000 for the first quarter of 2022. • Research and Development (R&D) Expenses : R&D expenses for the first quarter of 2023 and the first quarter of 2002 were $4.5 million. • General and Administrative (G&A) Expenses : G&A expenses for the first quarter of 2023 were $3.2 million, compared to $3.5 million for the first quarter of 2022. • Other Income: Other income for the first quarter of 2023 was $492,000, compared to $2,000 for the first quarter of 2022. Other income in both periods was comprised of interest income from cash and cash equivalents. • Other Expense : Non-cash interest expense for the first quarter of 2023 was $2.2 million, compared to $0 in the first quarter of 2022. Non-cash interest expense was comprised of imputed interest on the liability related to the sales of future royalties and the amortization of the associated i

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Source: SEC EDGAR

accession 0000950170-23-020831

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