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CLSD

Clearside Biomedical, Inc.

CLSD

Clearside Biomedical, Inc. • NASDAQ
$0.41 ▼ -26.96% (-0.15)
Market Cap $2.15 M
52w High $17.10
52w Low $0.37
Dividend Yield 0%
P/E -0.08
Volume 2.77M
Outstanding Shares 5.23M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $201K ▼ $7.241M ▲ $-5.972M ▼ -2.971K% ▼ $-1.14 ▼ $-3.318M ▼
Q2-2025 $492K ▼ $3.976M ▼ $-4.495M ▲ -913.618% ▼ $-0.87 ▲ $-1.649M ▲
Q1-2025 $2.33M ▲ $7.287M ▼ $-8.223M ▼ -352.918% ▲ $-1.65 ▼ $-4.75M ▼
Q4-2024 $306K ▼ $7.306M ▲ $-7.306M ▲ -2.388K% ▼ $-1.444 ▲ $-4.648M ▲
Q3-2024 $1.038M $6.972M $-7.688M -740.655% $-1.5 $-5.156M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $6.801M ▼ $11.641M ▼ $65.591M ▲ $-53.95M ▼
Q2-2025 $9.376M ▼ $15.332M ▼ $64.066M ▼ $-48.734M ▼
Q1-2025 $13.628M ▼ $19.668M ▼ $65.578M ▲ $-45.91M ▼
Q4-2024 $20.02M ▼ $25.126M ▼ $63.981M ▲ $-38.855M ▼
Q3-2024 $23.591M $29.161M $63.95M $-34.789M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-5.972M ▼ $-5.48M ▼ $0 $2.905M ▲ $-2.575M ▲ $-5.48M ▼
Q2-2025 $-4.495M ▲ $-4.729M ▲ $0 ▲ $477K ▲ $-4.252M ▲ $-4.729M ▲
Q1-2025 $-8.223M ▼ $-5.83M ▼ $-9K ▼ $-553K ▼ $-6.392M ▼ $-5.83M ▼
Q4-2024 $-7.306M ▲ $-5.254M ▲ $9.307M ▲ $2.079M ▲ $6.132M ▲ $-5.698M ▲
Q3-2024 $-7.689M $-5.913M $1.549M $14K $-4.35M $-5.966M

Revenue by Products

Product Q1-2019Q2-2019Q3-2019Q2-2020
License And Service
License And Service
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Clearside’s income statement shows a company built around R&D and partnerships rather than steady product sales. Reported revenue over the past several years has been minimal and inconsistent, likely tied to one‑time payments or collaborations rather than a durable stream of product income. Operating results have been consistently negative, meaning the core business spends more on research, overhead, and operations than it brings in. Net losses have been recurring, with only a brief break‑even period earlier in the period. Per‑share losses have widened lately, reflecting both continued spending and a very small revenue base. Overall, the company has not yet converted its scientific platform into self‑funding commercial strength.

Balance Sheet

Balance Sheet The balance sheet is very thin and has deteriorated over time. Total assets are small, with cash making up most of the asset base and trending down, which limits financial flexibility. Debt has appeared and grown relative to the company’s size, adding financial pressure. Shareholders’ equity has moved from positive to negative, which is a sign that accumulated losses and obligations outweigh the recorded asset base. This erosion of equity, together with modest assets and the later Chapter 11 filing, signals a weak financial foundation and a limited ability to absorb further setbacks without outside support or restructuring.

Cash Flow

Cash Flow Cash flow from operations has been consistently negative, indicating the business has been burning cash rather than generating it. The burn rate is not massive in absolute terms but is meaningful relative to the very small cash balance. Free cash flow has also been negative every year, with little or no spending on physical assets, which means the cash use is largely for ongoing R&D, staff, and overhead. Over time, this pattern points to dependence on external funding, milestone payments, or debt to keep the business running, and it aligns with the eventual need to seek bankruptcy protection and pursue an asset sale.

Competitive Edge

Competitive Edge Scientifically, Clearside carved out a differentiated niche in eye‑care by focusing on suprachoroidal delivery, supported by a specialized injector and a strong patent portfolio. This has given the company a clear technical identity and has attracted recognizable partners across ophthalmology and gene therapy, which validates the platform and provides some competitive shielding. Commercially, however, Clearside’s position is fragile. It has only one approved product, and relies heavily on collaborators to advance programs and generate potential royalties or milestones. The company competes in crowded, well‑funded markets like macular degeneration, where larger players dominate distribution, marketing, and pricing power. Its bankruptcy process underscores that scientific differentiation has not been matched by commercial scale or financial resilience, leaving the long‑term competitive position dependent on who acquires the assets and how aggressively they are developed.

Innovation and R&D

Innovation and R&D Innovation is the core strength of Clearside. Its SCS Microinjector® and suprachoroidal delivery know‑how are distinctive, offering more targeted drug placement at the back of the eye, the potential for fewer side effects, and compatibility with a wide range of drugs, including gene therapies. This has positioned Clearside as a specialist in a novel delivery route, rather than just another drug developer. The company has already translated this into one approved therapy for uveitic macular edema and a late‑stage candidate in wet age‑related macular degeneration that showed encouraging mid‑stage trial results and positive regulatory feedback. Multiple licensing deals suggest outside parties see real value in the platform. The key risk is not scientific potential but corporate continuity. With the Chapter 11 filing and asset sale underway, the future of the pipeline and technology depends on who acquires them, how much capital they commit, and whether they prioritize continued R&D. The innovation engine is strong on paper, but its continuation is no longer under Clearside’s direct control.

Summary

Clearside Biomedical combines a high‑potential ophthalmology platform with a very weak financial profile. The company has generated little recurring revenue and has operated at a loss for years, gradually exhausting its small asset base and pushing equity into negative territory. Persistent cash burn and rising reliance on obligations or external funding culminated in a Chapter 11 filing and a planned asset sale. On the positive side, Clearside’s scientific proposition is differentiated, backed by patents, clinical data, and partnerships with larger players. The suprachoroidal delivery platform, approved product, and late‑stage candidate could be valuable in the hands of a stronger owner. Going forward, the key lens for analysis shifts from “Can Clearside build a profitable standalone business?” to “What will an acquirer do with these assets?” Financial statements point to an unsustainable capital structure for Clearside as an independent company, while the R&D story suggests meaningful value could still be realized if the technology and programs are advanced under a better‑capitalized parent.

NEWS

November 24, 2025 · 7:05 AM UTC

Clearside Biomedical to Pursue Strategic Sale of its Business Through Voluntary Chapter 11 Process

Read more