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2021-06-18

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Clearside Jumps; Wedbush Triples Target After Eye-Drug Trial Progress

Shares of Clearside Biomedical(CLSD) jumped on Thursday after analysts at Wedbush tripled their pri

Clearside Jumps; Wedbush Triples Target After Eye-Drug Trial Progress

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The shares on Thursday have traded at a 52-week high $5.66, up 39%. And they've bounced off a 52-week low $1.25, touched at the end of October.\nClearside shares have been volatile, falling as low as $2.24 per share in late March. But since the calendar flipped to June, the stock as jumped more than 50%, including Thursday's jump.\nEarlier this week the company reported progress in a clinical trial of CLS-AX, a drug for pretreated wet age-related macular degeneration.\nClearside said the initial lowest planned dose of 0.03 mg CLS-AX was well tolerated with no serious adverse events and no drug-related treatment-emergent adverse events observed throughout the study.\nThe company said the improvements were reflected in the BCVA score, or best corrected visual acuity, with five of six patients each gaining four or more letters.\nEarlier this week the results prompted an analyst to call the treatment \"a game changer.\" Roth Capital analyst Zegbeh Jallah reiterated a buy rating and $9 price target on Clearside after the company reported data from the study.","news_type":1},"isVote":1,"tweetType":1,"viewCount":412,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":3,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}