- Stifel has upgraded Clearside Biomedical ( NASDAQ: CLSD ) to buy from hold saying that there is promise for candidate CLS-AX as a next-generation wet age-related macular degeneration treatment.
- The firm upped its price target to $8 from $7 (~471% upside based on Monday's close).
- Analyst Annabel Samimy said that phase 1/2a results on CLS-AX from the OASIS trial were very promising after just a single dose. An extension study showed 75% of patients didn't need an additional injection at six months and there was a 90% decline in treatment burden.
- Also, there were no adverse events seen with any of the doses tested.
- Samimy added that the company has a cash runway through 2024 for value creation.
- Seeking Alpha's Quant Rating views Clearside Biomedical ( CLSD ) with high marks for profitability, growth, and momentum .
For further details see:
Clearside Biomedical upgraded at Stifel on next-generation wet-AMD candidate