ALPHARETTA, Ga.—Clearside Biomedical Inc. (NASDAQ: CLSD), a biopharmaceutical company that develops treatments that restore and preserve vision, reported a net loss for the third quarter of $23.9 million. This compared with a net loss of $18.3 million for the third quarter of 2017. The increase in net loss was “primarily attributable to higher R&D expenses in the third quarter of 2018,” the company said in an announcement last week. The company reported no revenue for its third quarter, which ended Sept. 30.

The company said it expects to submit a New Drug Application for suprachoroidal Xipere to treat macular edema associated with non-infectious uveitis to the FDA by the end of 2018.

In addition, Clearside said it has consulted with its scientific and medical advisors to evaluate a path forward in its Diabetic Macular Edema (DME) program. “Based on their advice, and in light of the results of the Sapphire trial in retinal vein occlusion (RVO), the company has decided to cease any clinical development of Xipere in combination with an anti-VEGF therapy,” the announcement noted. “Clearside believes there is a potential role for Xipere as monotherapy in DME, RVO and other potential indications outside of uveitis, similar to the approval and use of other steroid products for these indications.”

“We continue to attract an impressive group of connected and experienced people who are exceptionally well qualified to help us transform Clearside from a development-stage to a commercial-stage company,” Daniel White, chief executive officer and president, said in the announcement. “We believe awareness and acceptance of the clinical profile of Xipere for the potential treatment of uveitic macular edema are building as we work to advance our commercial readiness. I am confident we will be ready for a successful launch of Xipere in 2019, should we receive approval."

Several executives have joined Clearside with extensive experience at leading health care companies, including Thomas A. Ciulla, MD, as chief medical officer, and Thomas Crawford, as vice president of supply chain. In addition, Clearside appointed Jeffrey Edwards to its board of directors, succeeding Evgeny Zaytsev, MD, in September 2018.