Stifel downgraded Clearside Biomedical (CLSD) to Hold from Buy with a price target of $2, down from $8. In a challenging financing environment, Clearside has arrived at the end of its cash runway with no new injection of capital and is now considering strategic alternatives, the analyst tells investors in a research note. The firm added that, given the company has been seeking capital influx for some time for further development of CLS-AX, the outcome of its new efforts to preserve cash and maximize the remaining value in its platform is uncertain.
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