Amidst all the volatility in the biotech sector in recent days, the Clearside Biomedical (NASDAQ:CLSD) stock has been on a continued upward curve this week and it has already jumped by 20% this morning.
The gains made by the stock have taken its gains for the week to 68% and hence, it could be the right time to start tracking the stock. The trading volumes in the stock have been very heavy as well. The rally in the stock this week seems to have been triggered by increasing optimism about Clearside’s pipeline of products.
The company is involved in the development and commercialisation of products that are meant for treating a wide range of eye diseases. The company also announced positive results from the Phase 1/2a clinical trial of its product that is meant for treating CLS-AX. That had proven to be one of the major triggers behind the rally in stock this week. Investors could do well to keep an eye on the stock over the coming days.
As of 10:45, CLSD stock soared 19.80% to $4.89 with more than 31.55 million shares, compared to its average volume of 1.69 million shares. The stock has moved within a range of $4.7500 – 6.0000 after opening the trade at $4.99.