Nano cap Clearside Biomedical (NASDAQ:CLSD) was up 8% premarket on modest volume in response to its out-license agreement with REGENXBIO (NASDAQ:RGNX) for its SCS Microinjector for the delivery of adeno-associated virus (AAV)-based therapeutics.
Under the terms of the original option and license agreement, CLSD received $2M upfront and is eligible for up to $34M in development milestones, up to $102M in sales milestones and mid-single-digit royalties on net sales of products using the SCS Microinjector. RGNX exercised its option to in-license the product.
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