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Clearside Biomedical Inc (CLSD): Cormorant Reveals 10.1% Stake

Bihua Chen‘s Cormorant Asset Management has revealed a position in Clearside Biomedical Inc (NASDAQ:CLSD), through a 13G filing issued with the SEC yesterday. The filing, which has a June 1 Date of Event, shows that Cormorant Asset Management owns 1.99 million shares of the company, or 10.1% of its common stock. The Date of Event is one day before Clearside Biomedical Inc (NASDAQ:CLSD) went public on June 2, with an IPO offering of 7.20 million shares at $7.00 per share, suggesting that Cormorant was a private investor of the company before its IPO.

Clearside had originally planned to offer 4.00 million shares at between $14.00 and $16.00 per share, but met resistance. With the biotech sector enduring a lengthy downturn, drug makers have had difficulty generating interest in their offerings, which has led to Viamet Pharmaceuticals Holdings LLC and GenSight Biologics SA to recently cancel their intended IPOs. Shares of Clearside Biomedical Inc (NASDAQ:CLSD), which is working on first-in-class drug treatments targeting diseases that cause blindness, are down slightly since their IPO, currently trading at $6.90.

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Elena Pavlovich/

Cormorant Asset Management is the second investment firm tracked by Insider Monkey which has revealed a position in the company, following Rock Springs Capital revealing a 1.30-million share position in the stock last Friday, with a Date of Event of June 2, the day of the company’s IPO. The Kris Jenner, Gordon Bussard, and Graham McPhail-managed healthcare-investment firm has a 6.6% stake in the stock and was also invested in it while the company was private.

You can access the original SEC filing by clicking here.

Ownership Summary Table

Name Sole Voting Power Shared Voting Power Sole Dispositive Power Shared Dispositive Power Aggregate Amount Owned Power Percent of Class
Cormorant Global Healthcare Master Fund 0 1,658,151 0 1,658,151 1,658,151 8.5%
Cormorant Global Healthcare GP 0 1,658,151 0 1,658,151 1,658,151 8.5%
Cormorant Asset Management 0 1,988,208 0 1,988,208 1,988,208 10.1%
Bihua Chen 0 1,988,208 0 1,988,208 1,988,208 10.1%
Bihua Chen
Bihua Chen
Cormorant Asset Management

Page 1 of 10 – SEC Filing

Washington, D.C. 20549
OMB Number:3235-0145
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hours per response… 10.4


Under the Securities Exchange Act of 1934
(Amendment No. ___)*
Clearside Biomedical, Inc.
(Name of Issuer)
Common Stock, par value $0.001 per share
(Title of Class of Securities)
(CUSIP Number)
June 1, 2016
(Date of Event which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[ ] Rule 13d-1(b)
[x] Rule 13d-1(c)
[ ] Rule 13d-1(d)
The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
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