Clearside BioMedical Inc. plans to sell $75 million of its common stock in an underwritten public offering.
The company plans to grant the underwriters an option to buy up to an additional 15% of the shares offered.
Georgia-based Clearside plans to use the net proceeds to prepare and submit a new drug application for suprachoroidal CLS-TA to treat macular edema associated with non-infectious uveitis and to invest in commercialization and marketing of suprachoroidal CLS-TA, if approved.
In addition, the company plans to use the net proceeds for clinical trials, as well as for continued research and development of its earlier-stage programs, working capital and general corporate purposes.
J.P. Morgan Securities LLC and Cowen and Co. LLC are acting as joint book-running managers, while Stifel Nicolaus & Co. Inc. is acting as a passive book-running manager. Needham & Co. LLC and Wedbush Securities Inc. are acting as co-managers for the offering.
