Clearside Biomedical Reports Q2 Eps 10c Consensus 13c

Clearside Biomedical Announces Fourth Quarter and Full Year 2022 Financial Results

Company Continues to Execute on Strategic Plan with Strong Execution

Updates on Phase 3 ILLUMINATE Study Evaluating XIPERE^® for the Treatment of Macular Edema Associated with RVO

ALPHARETTA, Ga., Jan. 20, 2024 (GLOBE NEWSWIRE) -- Clearside Biomedical Inc. (NASDAQ: CLSD), a biopharmaceutical company dedicated to developing and commercializing innovative therapies to address unmet medical needs in ophthalmology, today announced its financial results for the fourth quarter and full year ended December 31, 2022. The Company also provided an update on the ILLUMINATE Phase 3 clinical trial evaluating XIPERE^® (triamcinolone acetonide suprachoroidal depot) for the treatment of macular edema associated with central retinal vein occlusion (CRVO) or branch retinal vein occlusion (BRVO).

“Clearside made significant progress in 2022 with strong execution and operational milestones across our business. We believe this progress positions us well for continued success in 2023 and beyond,” said George Lasecki, President and CEO of Clearside. We continue to demonstrate the value of our XIPERE franchise with consistent growth in our Suprachoroidal Injection System (SCiSTM) platform. The recent positive topline results from our ILLUMINATE Phase 3 trial evaluating XIPERE for the treatment of macular edema associated with RVO, represents a significant milestone for our company and we look forward to sharing the final data in the first half of this year.”

Fourth Quarter 2022 and Recent Highlights

• Achieved record Suprachoroidal Injection System (SCiSTM) product revenue of $13.8 million in the fourth quarter of 2022, representing a 29% increase compared to the fourth quarter of 2021.
• Ended the fourth quarter of 2022 with approximately $104.7 million in cash, cash equivalents, and marketable securities.
• In December 2022, announced positive topline results from the Phase 3 ILLUMINATE clinical trial evaluating XIPERE for the treatment of macular edema associated with CRVO or BRVO. The study met its primary efficacy endpoint, demonstrating that XIPERE was superior to sham procedure at reducing central subfield thickness (CST) at week 16.
• In December 2022, initiated the Phase 3 PEACHTREE clinical trial to evaluate the safety and efficacy of XIPERE for the treatment of macular edema secondary to non-infectious uveitis.
• In December 2022, appointed Karen Zaderej, M.B.A., to the Clearside Board of Directors.