Stock Alert: Clearside Biomedical Jumps 27%

(RTTNews) - Shares of Clearside Biomedical, Inc. (CLSD) are gaining over 27% on Tuesday morning after the biopharmaceutical company announced positive safety results from a early-stage trial for the treatment of a chronic eye disorder.

CLSD is currently trading at $3.84, up $0.82 or 27.1523%, on the Nasdaq. The stock has traded between $1.25 and $4.69 in the 52-week period.

Clearside Biomedical announced positive safety results from Cohort 1 of OASIS, its ongoing Phase 1/2a clinical trial of CLS-AX (axitinib injectable suspension) administered by suprachoroidal injection via Clearside's SCS Microinjector in six patients with neovascular age-related macular degeneration (wet AMD).

CLS-AX 0.03 mg dose delivered via suprachoroidal injection was well-tolerated with no treatment related adverse events.

Wet macular degeneration is a chronic eye disorder that causes blurred vision or a blind spot in your visual field. It's generally caused by abnormal blood vessels that leak fluid or blood into the macula (MAK-u-luh). The macula is in the part of the retina responsible for central vision.