Clearside Biomedical Reports $8.2 Million Net Loss in Q1 2025, Revenue Increases to $2.3 Million

Clearside Biomedical, Inc. reported its financial results for the first quarter of 2025, revealing a net loss of $8.2 million, a decrease from a net loss of $11.8 million in the same period of 2024. The company recognized $2.3 million in license and other revenue, a significant increase from $230,000 in the prior year, primarily driven by milestone payments from Arctic Vision and revenue from training and services related to its SCS Microinjector kits. Operating expenses for the quarter totaled $7.5 million, down from $8.4 million in the previous year, reflecting a reduction in research and development costs, which fell to $4.5 million from $5.6 million.

In terms of financial position, Clearside's total assets decreased to $19.7 million as of March 31, 2025, down from $25.1 million at the end of 2024. The company's cash and cash equivalents also declined to $13.6 million from $20 million. Total liabilities increased to $65.6 million, compared to $64 million at the end of the previous year, largely due to an increase in accounts payable and accrued liabilities. The accumulated deficit grew to $363.5 million, reflecting ongoing operational losses.

Strategically, Clearside has made significant moves, including the completion of its Phase 2b clinical trial for CLS-AX, a proprietary suspension of axitinib for the treatment of wet age-related macular degeneration. The company plans to initiate two pivotal Phase 3 trials in the second half of 2025, pending funding. Additionally, Clearside has entered into a fourth amendment to its license agreement with Emory University, reducing the sublicense percentage it pays on certain fees, which is expected to improve its financial flexibility.

Operationally, Clearside's employee headcount has increased, reflecting its commitment to advancing its research and development pipeline. The company continues to explore partnerships and collaborations to expand its reach and enhance its product offerings. However, it faces substantial doubt regarding its ability to continue as a going concern, as it anticipates needing additional financing to support its operations and clinical development efforts. The company expects its current cash reserves will sustain its operations into the fourth quarter of 2025, but it will require further capital to complete the development of CLS-AX and other product candidates.