Clearside Biomedical Announces Pricing of Public Offering of Common Stock

Clearside Biomedical, Inc. (NASDAQ:CLSD), a late-stage biopharmaceutical company developing first-in-class drug therapies to treat back-of-the-eye diseases, today announced the pricing of an underwritten public offering of 4,000,000 shares of its common stock at a public offering price of $9.00 per share. The gross proceeds from the offering to Clearside are expected to be $36.0 million.  All of the shares in the offering will be sold by Clearside. In addition, Clearside has granted the underwriters a 30-day option to purchase up to an additional 600,000 shares of common stock at the public offering price, less the underwriting discount.
Clearside intends to use the net proceeds from the offering to complete its pivotal Phase 3 clinical trial of suprachoroidal Zuprata for the treatment of macular edema associated with non-infectious uveitis and to initiate its Phase 3 clinical program of suprachoroidal Zuprata with the intravitreal anti-VEGF agent, Eylea, for the treatment of macular edema associated with RVO. In addition, Clearside intends to use the net proceeds to complete its ongoing Phase 1/2 clinical trial of Zuprata alone or with Eylea for the treatment of DME and to initiate and complete a planned Phase 1/2 clinical trial of axitinib for the treatment of wet AMD, as well as for continued research and development of its earlier-stage programs, working capital and general corporate purposes.J.P. Morgan Securities LLC and Cowen and Company, LLC are acting as joint active book-running managers for the offering. Stifel, Nicolaus & Company, Incorporated is acting as a passive book-running manager and Wedbush Securities, Inc. is acting as a co-manager. The offering is expected to close on December 14, 2016, subject to customary closing conditions.A registration statement relating to the offering was declared effective by the U.S. Securities and Exchange Commission on December 9, 2016. The offering is being made only by means of a prospectus. Copies of the final prospectus relating to the offering may be obtained, when available, from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (866) 803-9204, or by email at prospectus-eq_fi@jpmchase.com, or Cowen and Company, LLC, c/o Broadridge Financial Services, 1155 Long Island Avenue, Edgewood, New York 11717, Attention: Prospectus Department, or by calling (631) 274-2806, or by faxing (631) 254-7140.This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
About Clearside
Clearside Biomedical, Inc., headquartered in Alpharetta, GA, is a publicly traded, ophthalmic biopharmaceutical company that envisions a world without blindness. Clearside relentlessly pursues transformative, elegant, precise solutions to restore and preserve vision. Clearside is developing advanced clinical and pre-clinical candidates using a proprietary treatment approach offering unprecedented access to the back of the eye through the suprachoroidal space (SCS™). This offers potentially meaningful treatment benefit to patients suffering from sight threatening diseases like uveitis, retinal vein occlusion, diabetic macular edema and wet age-related macular degeneration.Contacts
Company:
Charles Deignan
Chief Financial Officer
678-270-4005
charlie.deignan@clearsidebio.com
Investors:
Matthew Beck
The Trout Group
646-378-2933
mbeck@troutgroup.com