8/9-
Clearside Biomedical jumps following financing pact with HealthCare Royalty 08/09 CLSD Shares of Clearside Biomedical (CLSD) are on the rise on Tuesday after the company announced a non-dilutive financing agreement with HealthCare Royalty, supporting progression of CLS-AX clinical program. Alongside its second quarter results, Clearside Biomedical said it had entered into a Royalty Interest Purchase and Sale Agreement with HealthCare Royalty Partners, which may provide the company up to $65 million in non-dilutive funding to support ongoing clinical development of Clearside's pipeline, and pursuant to which HealthCare Royalty Partners will receive all royalties and milestone payments due to Clearside from XIPERE and certain SCS Microinjector license agreements, subject to a cap of 2.5 times the total purchase price paid by HealthCare Royalty under the agreement. The cap may be increased under certain circumstances. In Tuesday morning trading, shares of Clearside have gained about 9% to $1.78.
Wish that line about lending finds was a bit more definitive....