Clearside Biomedical, Inc. (CLSDQ)

Key Insights

• Clearside Biomedical, Inc. has filed for Chapter 11 bankruptcy and is seeking to sell its assets through a court-supervised auction process.
• The company has designated Health Ocean Limited as the stalking horse bidder, with the terms of the proposed transaction set forth in a term sheet.
• The monthly operating report filed by the company suggests its financial situation has deteriorated, and investors should exercise caution when relying on the information provided as it is not prepared in accordance with GAAP.