Clearside Biomedical, Inc. (CLSD)

Clearside Biomedical was a biopharmaceutical company based in Alpharetta, Georgia, focused on treatments for diseases of the back of the eye. Its core technology was the SCS Microinjector, a device that delivers medicine into the suprachoroidal space, a potential space between the sclera and the choroid. The approach was designed to place drug close to the tissues affected by disease while limiting exposure to the rest of the eye.

Clearside completed its initial public offering in June 2016 and listed on Nasdaq under the symbol CLSD. Its first commercial product, Xipere, a triamcinolone acetonide injectable suspension for macular edema associated with uveitis, was approved by the US FDA in October 2021. Commercialization in the United States was licensed to Bausch + Lomb, and Clearside earned milestone and royalty payments rather than selling the product itself.

The company also advanced a pipeline of other candidates, including CLS-AX, an investigational suprachoroidal formulation of axitinib for neovascular age-related macular degeneration. It had collaborations and license agreements with partners that included Arctic Vision in China and other ophthalmic companies, which supplied non-dilutive funding. Operations depended on those payments and on periodic equity raises.

Clearside's financial position weakened as development costs continued and funding became harder to obtain for small ophthalmology companies. In August 2025, Nasdaq notified the company that it did not meet the minimum market value of listed securities requirement of $50 million applicable to its tier. The company's equity value was small relative to its obligations, and it explored options to raise capital or sell assets.

On November 23, 2025, Clearside filed a voluntary petition for reorganization under Chapter 11 of the US Bankruptcy Code in the US Bankruptcy Court for the District of Delaware. The company stated that its objective was to sell substantially all of its assets to the highest bidder through the court process. The filing did not name a buyer or a price.

On November 24, 2025, Nasdaq notified Clearside that its common stock would be delisted because of the bankruptcy filing and the earlier listing deficiency, and the company said it did not intend to appeal. Trading was suspended at the open on December 1, 2025, and the stock began trading over the counter under the symbol CLSDQ. An SEC Form 25 was filed on December 8, 2025 to complete the removal from Nasdaq.