Nano cap Clearside Biomedical (NASDAQ:CLSD) is up 37% premarket on light volume in reaction to its option and license agreement with REGENXBIO (NASDAQ:RGNX) for exclusive global rights to its in-office SCS Microinjector that RGNX will evaluate for the non-surgical delivery of gene therapy RGX-314 into the suprachoroidal space in patients with certain eye diseases appropriate for anti-VEGF treatment (e.g., wet AMD, diabetic retinopathy).
Under the terms of the deal, CLSD will receive $34M if RGNX exercises its option, up to $102M in sales milestones and mid-single-digit royalties on net sales. CLSD will supply the product and will support RGNX's studies and commercial activities.
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