NEW YORK, NY / ACCESSWIRE / November 6, 2018 / Shares of Teladoc Health were in the red on Monday after its CFO and COO sold off a big stake of his shares. Shares of Clearside Biomedical were also in the red on disappointing trial results.
RDI Initiates Coverage on:
Teladoc Health, Inc.
https://rdinvesting.com/news/?ticker=TDOC
Clearside Biomedical, Inc.
https://rdinvesting.com/news/?ticker=CLSD
Teladoc Health, Inc. shares closed down 12.65% on about 4 million shares traded on Monday. There were two reasons that may have contributed to the sell-off of shares yesterday. One was that the company's COO and CFO, Mark Hirschhorn had sold over $700,000 worth of shares last Friday, which amounted to over 81% of his stake in the company. The other was that an online post from a short-seller had alleged "questionable sales practices" at the company's BetterHelp mental health subsidiary. The post claims that sales for BetterHelp will soon plunge due to patients leaving over a controversy in which YouTube stars promoted the site in exchange for money every time a viewer clicked on the referral link to BetterHelp. Given the fact that BetterHelp generates less than 5% of its subscribers from
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https://rdinvesting.com/news/?ticker=TDOC
Clearside Biomedical, Inc. shares closed down nearly 63% on nearly 7 million shares traded on Monday. The stock hit a new low of $2.05 after the biopharmaceutical company announced that the primary endpoint was not achieved in its Phase 3 clinical trial (“SAPPHIRE”) investigating the superiority of XIPERE used together with the intravitreal anti-VEGF agent EYLEA® (aflibercept) compared to intravitreal Eylea monotherapy, for the treatment of retinal vein occlusion (‘RVO”). CEO Daniel White stated, “In the SAPPHIRE trial, approximately 50% of patients in both arms showed at least a 15-letter improvement in vision; unfortunately, there was no additional benefit for patients receiving XIPERE together with intravitreal Eylea. In light of these 8-week topline data, we plan to discontinue clinical development of combination therapy for RVO, which includes SAPPHIRE and its companion Phase 3 clinical trial, TOPAZ.” The Company still has some hopes as a paper by The Royal College of Ophthalmologists highlighted that Xipere has potential to treat uveitic macular edema, a condition that occurs when the retina thickens in the macular area of the eye due to the breakdown of the blood-retinal barrier. The biopharma plans to submit its New Drug Application to the US Food and Drug Administration before the end of the year. The Company's third quarter 2018 financial results will be released at approximately 7:00 a.m. ET on Thursday, November 8, 2018.
Access RDI’s Clearside Biomedical, Inc. Research Report at:
https://rdinvesting.com/news/?ticker=CLSD
Our Actionable Research on Teladoc Health, Inc. (NYSE: TDOC) and Clearside Biomedical, Inc. (NASDAQ: CLSD) can be downloaded free of charge at Research Driven Investing.
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SOURCE: RDInvesting.com