Clearside Biomedical Inc. (NASDAQ:CLSD) is up 75% this month after it reported promising cohort 1 OASIS Phase1/2a clinical study safety results of CLS-AX.The company is studying CLS-AX, axitinib injectable suspension, in neovascular age-related degeneration treatment. The company administered CLS-AX in six nAMD patients through suprachoroidal injection leveraging the company’s SCS Microinjector.All primary endpoints were met in the first cohort. The preliminary lowest planned CLS-AX (0.03 mg) dose showed favorable tolerability without any serious adverse effects of drug-connected treatment-emergent events.
The company said that the patients didn’t show signs of vasculitis, inflammation, drug dispersion into the vitreous, IOP safety signals, and ant drug-linked adverse events.All study participants who averaged 82 years had received anti-VEGF treatment before through a number of standard-of-care injections at the start of the OASIS study.
Clearside Biomedical said five of the six patients in the study had shown BCVA improvement after a month of CLS-AX administration. Cohort 2, in which patients will receive CLS-AX 0.1 mg, will commence this month. CLSD is a stock to watch in the coming weeks.
Market Reaction:
On Monday, CLSD stock fell 4.50% to $4.70 with more than 810k shares, compared to its average volume of 2.63 million shares. The stock has moved within a range of $4.6300 – 4.9000 after opening the trade at $4.85 Over the past 52-week, the stock has been trading within a range of $1.2500 – 6.0000. Moreover, the stock is up down 4.30% to $4.50 in the pre-market session.
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