Clearside Biomedical plunges after filing for bankruptcy

Shares of drug developer Clearside Biomedical CLSD.O slide 51.8% to $1.37 in premarket

Co files for Chapter 11 bankruptcy protection in a U.S. court, estimates assets in range of $1 mln to $10 mln and liabilities between $50 mln and $100 mln, as per filing

Co reported a loss of $1.14 per share in the quarter ended September 30, lesser than $1.54 per share a year ago

In its quarterly results filing on November 14, co raised going concerns, saying it may not be able to continue without additional funding or strategic transaction

Co has been exploring a sale, licensing or partnerships to advance its drug pipeline and SCS platform - a drug delivery system - since July

CLSD stock down 80.9% YTD, as of last close