Clearside Biomedical Inc (CLSD) News & EventsCLSDNews & EventsClearside Biomedical Inc

Clearside Biomedical Completes Financial Restructuring, Emerges from Chapter 11

Clearside Biomedical announced that it has completed its financial restructuring and emerged from Chapter 11. All conditions to the effectiveness of the company's plan of reorganization, as confirmed by the United States Bankruptcy Court for the District of Delaware, have been satisfied or waived, and the plan became effective on the closing date. The plan was sponsored by Steel Partners, which provided new equity capital and credit support to the reorganized company. Clearside commenced its Chapter 11 case on November 23, 2025. Under the Plan, an affiliate of Steel Partners purchased newly issued common shares of the reorganized company representing approximately 30% of the company's aggregate economic interest and 80% of its total voting power, on an as-converted, fully diluted basis. Holders of the company's existing common stock retained approximately 70% of the economic interest in the reorganized company, subject to dilution and customary reorganization adjustments. The proceeds were reserved to satisfy allowed claims. In addition, Steel Partners provided the company with a $3M senior secured revolving credit facility for working capital and general corporate purposes. The reorganized company emerges free of legacy liabilities and retains certain intellectual property including patents, trademarks and domain names. A central objective of the transaction is the rehabilitation or other use of that retained intellectual property, which the company, with Steel Partners' capital and operational support, intends to develop or otherwise utilize and monetize over time.

Clearside Biomedical to Seek Business Sale Through Chapter 11 Proceedings

Clearside Biomedical filed a voluntary petition under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. As part of the case, Clearside also intends to file a motion seeking authorization to pursue an auction and sale process under Section 363 of the U.S. Bankruptcy Code. The proposed bidding procedures, if approved by the court, would require interested parties to submit binding offers to acquire Clearside's assets in whole or in part, which would be purchased free and clear of liens and interests. "Our Board of Directors and management team have thoroughly assessed all of our strategic options and believe that this Chapter 11 structured process represents the best possible option for Clearside and its stakeholders," said George Lasezkay, CEO. "We believe that we have attractive assets based on our clinically proven SCS Microinjector platform and associated intellectual property, our successful suprachoroidal CLS-AX clinical development program, multiple suprachoroidal licensing agreements and other related assets." Clearside has filed a series of motions with the court seeking to ensure the continuation of normal operations during this process.

Clearside Biomedical announces approval of XIPERE in Canada

Clearside Biomedical announced that Health Canada has granted approval for XIPERE for suprachoroidal use in the treatment of uveitic macular edema, UME. XIPERE is approved for use in the United States, Canada, Australia, and Singapore and under regulatory review in China.