AMD News – CLSD Stock price Increased 37.75%: Why It Happened
- The stock price of Clearside Biomedical, Inc. (Nasdaq: CLSD) increased 37.75% yesterday. This is why it happened.
The stock price of Clearside Biomedical, Inc. (Nasdaq: CLSD) – a biopharmaceutical company dedicated to developing and delivering treatments that restore and preserve vision for people with serious back of the eye diseases – increased 37.75% yesterday, going from a previous close of $3.02 to $4.16. Investors responded positively to the company announcing positive safety results from Cohort 1 of OASIS, its ongoing Phase 1/2a clinical trial of CLS-AX (axitinib injectable suspension) administered by suprachoroidal injection via Clearside’s SCS Microinjector in six patients (n=6) with neovascular age-related macular degeneration (wet AMD).
The primary endpoints were achieved in Cohort 1 as the initial lowest planned dose of 0.03 mg CLS-AX was well-tolerated with no serious adverse events and no drug-related treatment-emergent adverse events observed throughout the study period. Clearside Biomedical pointed out that improvements after receiving an injection of CLS-AX for wet AMD were reflected in the BCVA (best corrected visual acuity) score with 5 of 6 patients each gaining 4 or more letters.
Roth Capital analyst Zegbeh Jallah had reiterated a “buy” rating on the company shares and assigned the company a $9 price target.
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