Filing Alert: Clearside Biomedical Chapter 11
Clearside Biomedical Files Chapter 11 in District of Delaware
Update (Nov. 24, 2025): A comprehensive case summary is now available for the Chapter 11 bankruptcy filing of Clearside Biomedical, Inc.
Clearside Biomedical, Inc., an Alpharetta, GA-based clinical-stage biopharmaceutical company focused on therapies for serious eye diseases, filed for Chapter 11 protection on Nov. 23 in the U.S. Bankruptcy Court for the District of Delaware.
The filing intends to facilitate a §363 sale of all assets, with a potential stalking horse bidder for certain assets close to finalizing an agreement. The company attributes the filing to sustained financial distress and liquidity constraints, having incurred substantial operating losses without generating meaningful product revenue. Despite raising capital through equity offerings and royalty monetizations (including a transaction with HealthCare Royalty Management), and implementing cost reductions, the debtor projected its cash runway would expire in Q4 2025. Prepetition marketing efforts by Piper Sandler resulted in a non-binding term sheet from the potential stalking horse. The debtor has no funded debt and intends to fund the case using unencumbered cash on hand.
The company reports $8.8 million in assets and $64.1 million in liabilities (as of June 30, 2025). The filing indicates that there will be funds available for distribution to unsecured creditors. The case number is 25-12109.
Key Parties
Delaware Bankruptcy Counsel:
- Daniel J. DeFranceschi
Richards, Layton & Finger, P.A.
Email: defranceschi@rlf.com
Lead Bankruptcy Counsel:
- Cooley LLP
Financial Advisor:
- Berkeley Research Group
Signatories:
- George Lasezkay – President and Chief Executive Officer
Claims Agent:
Bondoro Insights is continuing to monitor this case and will provide further coverage as appropriate.
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