The combination of small cap biotech and upcoming clinical trial results is a potent one for investors, although it is fraught with risk. Should the outcome miss the target, the shares will be offloaded faster than you can say phase 1. However, deliver the goods and the rewards are plentiful. Investors of Clearside Biomedical (CLSD) were sitting on the right side of this equation on Tuesday. Shares of the eye disease-focused company took off by 38% after the company announced positive clinical r
As of 3 p.m. EDT, the biopharmaceutical company's stock price was up more than 12% after rising as much as 47% earlier in the day. Clearside Biomedical is developing an experimental treatment for wet age-related macular degeneration (AMD). Investors bid up eye care specialist Clearside Biomedical's shares on Thursday.
Wedbush raised its price target on Clearside after the company reported progress in a clinical trial of CLS-AX, which treats age-related macular degeneration.