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Clearside BioMedical plans $75M common stock offering

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.