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Clearside Biomedical(CLSD) - 2024 Q2 - Quarterly Results
CLSDClearside Biomedical(CLSD)2024-08-12 20:15

Revenue Performance - License and other revenue for Q2 2024 was 90,000,adecreasefrom90,000, a decrease from 1.0 million in Q2 2023[5]. Expenses - Research and development expenses for Q2 2024 were 4.6million,downfrom4.6 million, down from 4.9 million in Q2 2023, primarily due to reductions in the CLS-AX program and SCS Microinjector development[5]. - Total operating expenses for Q2 2024 were 7.68million,comparedto7.68 million, compared to 8.29 million in Q2 2023[12]. - Non-cash interest expense remained constant at 2.3millioninbothQ22024andQ22023[5].FinancialPerformance−NetlossforQ22024was2.3 million in both Q2 2024 and Q2 2023[5]. Financial Performance - Net loss for Q2 2024 was 7.6 million, or 0.10pershare,comparedtoanetlossof0.10 per share, compared to a net loss of 9.1 million, or 0.15pershare,inQ22023[5].−AsofJune30,2024,Clearside′scash,cashequivalents,andshort−terminvestmentstotaled0.15 per share, in Q2 2023[5]. - As of June 30, 2024, Clearside's cash, cash equivalents, and short-term investments totaled 29.4 million, expected to fund operations into Q3 2025[6]. Clinical Trials and Partnerships - Topline data from the Phase 2b ODYSSEY clinical trial of CLS-AX is expected in late Q3 2024[2]. - Clearside's Asia-Pacific partner, Arctic Vision, reported positive results from its Phase 3 trial for XIPERE, with NDAs accepted for review in Australia and Singapore[3]. - 87.7% of eyes treated with XIPERE did not require additional corticosteroid injections for 6 months after a single dose[2]. - Clearside's gene therapy partner, REGENXBIO, plans to initiate a global pivotal trial in H1 2025 for diabetic retinopathy[3].