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Clearside Biomedical Inc. (CLSD+3.44%) has filed its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing reports a net loss of $34.4 million for the year, compared to a net loss of $32.5 million in the previous year. The company attributes the loss to ongoing research and development expenses and general administrative costs.
Clearside's revenue for the year was $1.7 million, down from $8.2 million in 2023. The decrease is primarily due to lower milestone payments from licensing agreements.
Research and development expenses were $18.6 million, a decrease from $20.8 million in the prior year. This decrease was mainly due to reduced costs associated with the ODYSSEY Phase 2b clinical trial of CLS-AX.
General and administrative expenses remained relatively stable at $11.8 million, compared to $11.9 million in 2023.
The company ended the year with $20.0 million in cash and cash equivalents. It anticipates that this will fund operations into the fourth quarter of 2025.
Clearside continues to focus on developing its SCS Microinjector platform and advancing its pipeline of product candidates for the treatment of eye diseases.
The company has expressed substantial doubt about its ability to continue as a going concern beyond the fourth quarter of 2025 without additional financing.
Clearside is actively seeking additional capital through equity offerings, debt financings, and potential collaboration agreements to support its operations and clinical trials.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Clearside Biomedical Inc. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.