Needham downgraded Clearside Biomedical (CLSD) to Hold from Buy. The firm sees an uncertain path forward for Clearside after the company hired an investment bank to explore strategic alternatives. The decision is “disappointing” since the company has a Phase 3 ready-asset for wet age-related macular degeneration that demonstrated the potential for flexible dosing, the analyst tells investors in a research note. Needham believes Clearside has limited options to secure adequate funding. The stock in midday trading is down 32% to 57c.
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