By Rob Curran
Clearside Biomedical will divert all employees to a consulting status and halt research-and-development, allowing the eye-care biotechnology firm to conserve cash during a search for a deal or other strategic alternatives.
The Alpharetta, Ga., biotech company hired investment bank Piper Sandler to help it identify a deal opportunity in licensing, merger-and-acquisitions, joint ventures or other strategic collaborations. The company said it was taking the unusual steps of suspending salaried positions and freezing internal R&D because of "unpredictable economic environment and challenging fundraising conditions in the biopharmaceutical industry."
As of Dec. 31, Clearside had 32 employees, according to a Securities and Exchange Commission filing.
President and Chief Executive George Lasezkay who will switch to a consulting capacity alongside the chief financial officer, the chief medical officer and the other employees, said he remained confident in the potential of the company's "SCS Microinjector" technology, which delivers medication behind the eye in a non-invasive fashion.
"We strongly believe that our proprietary suprachoroidal delivery platform provides an effective and reliable way to target challenging retinal diseases that need longer lasting treatments," said Lasezkay, in a statement.
Clearside shares fell 4% to 80 cents premarket.
Write to Rob Curran, rob.curran@dowjones.com
(END) Dow Jones Newswires
July 17, 2025 07:44 ET (11:44 GMT)
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