Clearside Biomedical, Inc. (CLSD) Stock Surged 39.11% Today, Here’s Why

Clearside Biomedical, Inc. (CLSD) stock soared 39.11% in the current-market trading session at the price of $1.88 after publishing its financial results for the fourth quarter and year 2021. CLSD is a biopharma firm that revolutionizes therapeutics delivery to the back of the eye via the suprachoroidal space.

CLSD Q4 2021 Financial Results

On 10th March 2022, CLSD announced its earnings report for Q4 and year ended 31st December 2021 and delivered corporate updates. For Q4 of 2021, R&D expenses were US$3.8M compared to US$4.5M for Q4 of 2020. The company has G&A expenses of US$3.1M for Q4 of 2021. G&A costs totaled US$2.6M for the same quarter of the previous year.

License and other revenue totaled US$25.7M for the Q4 of 2021. Revenue was US$11,000 for the same quarter last year. CLSD has a net income of US$18.7M, or per share of $0.31, for Q4 of 2021. Net loss was US$7.1M, or per share of $0.14, for the same quarter of the prior year.

Year 2021 Financial Summary

CLSD calculated revenue of US$29.6M for the year ended 31st December 2021. For the year 2020, revenue totaled US$7.9M. Net income was US$376,000, or per share of $0.01, for the year 2021. The company has a net loss of US$18.2M, or per share of $0.39, for 2020.

R&D expenses were US$18.5M for 2021 compared to US$15.1M for 2020. The company has G&A costs of US$11.7M for the year 2021. G&A expenses totaled US$10.8M the previous year. On 31st December 2021, CLSD has cash and cash equivalents of roughly US$30.4M.

Appointment of Benjamin R. Yerxa

Earlier on 3rd March 2022, CLSD announced appointing Benjamin R. Yerxa to its board of directors. The appointment became effective on 2nd March 2022.

Mr. Yerxa has over 25 years of pharmaceutical understanding in pulmonary, ophthalmology, rare disease, cardiovascular, and HIV. Most recently, he was serving as CEO of the Foundation Fighting Blindness. Before, he has worked in several senior leadership positions in private and public ophthalmology organizations.

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