Clearside Biomedical Files for Chapter 11 Bankruptcy, Stock Plummets 70%
Clearside Biomedical (CLSD) shares collapsed 70.59% in pre-market trading after the clinical-stage biopharma voluntarily filed for Chapter 11 protection. The Georgia-based company will pursue asset sales through the bankruptcy process, including its SCS Microinjector platform and axitinib suspension program.
CEO George Lasezkay maintains the company's suprachoroidal delivery technology holds value for potential buyers. The bankruptcy filing allows Clearside to continue operations while soliciting binding offers for its intellectual property and licensing agreements.
Investors abandoned the stock en masse, reflecting the biotech sector's brutal financing environment. The collapse underscores the high-risk nature of developmental-stage pharmaceutical plays, where binary outcomes dictate extreme volatility.
