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Alimera Sciences, Inc. (NASDAQ: ALIM) is a leading global pharmaceutical company committed to advancing retinal health. Founded in June 2003, the company specializes in the research, development, and commercialization of prescription ophthalmic pharmaceuticals. Alimera's primary focus is on diseases affecting the retina, particularly those that are not well managed by current therapies. The company's flagship product, ILUVIEN, is a sustained-release intravitreal implant used for the treatment of diabetic macular edema (DME) and non-infectious uveitis affecting the posterior segment of the eye (NIU-PS) outside the U.S.
ILUVIEN utilizes CONTINUOUS MICRODOSING™ technology, releasing sub-microgram levels of fluocinolone acetonide, a corticosteroid, for up to 36 months. This technology helps to reduce disease recurrence, thereby enabling patients to maintain vision longer with fewer injections. ILUVIEN is approved in the U.S. and multiple international markets, including 17 European countries, China, and regions in the Middle East.
Recently, Alimera announced positive data from several clinical studies, such as the PALADIN study, which evaluated the long-term safety of ILUVIEN in treating DME. The company also made headlines by completing enrollment for the Synchronicity Study, focusing on YUTIQ, another fluocinolone acetonide intravitreal implant for chronic non-infectious uveitis.
Moreover, Alimera continues to expand its executive team to strengthen its financial and operational capabilities. Elliot Maltz, C.P.A., has been named as the new Chief Financial Officer to drive growth and improve cash flow. The company's European operations are managed through its subsidiary, Alimera Sciences Limited, based in London.
Financially, Alimera Sciences has shown robust growth. In Q4 2023, the company reported net revenues of $26.3 million, an 88% increase compared to the same period in 2022. For the full year 2023, net revenues were up 49% to $80.8 million. This growth is a testament to the successful commercialization of ILUVIEN and YUTIQ.
Looking ahead, Alimera aims to further its mission of being invaluable to patients, physicians, and partners concerned with retinal health. The company is actively involved in numerous clinical studies and regulatory efforts to expand the therapeutic indications for its products, ensuring continued innovation and improved patient outcomes.
For more information, please visit www.alimerasciences.com.
Alimera Sciences (Nasdaq: ALIM) has filed a lawsuit against ANI Pharmaceuticals (Nasdaq: ANIP) in the Delaware Court of Chancery to enforce the previously announced merger agreement. The legal action aims to compel ANI to close the merger transaction and honor its contractual obligations. Alimera shareholders approved the merger on September 4, fulfilling the last requirement for closing. The company states that it has met all its obligations, but ANI has failed to close on time. Alimera believes the merger offers compelling value for shareholders and is committed to completing the transaction. The lawsuit specifically requests the Court to require ANI to comply with its obligations to finalize the merger as outlined in the Agreement and Plan of Merger dated June 21, 2024.
Alimera Sciences reported strong Q2 2024 results with net revenue up 54% to $27 million compared to Q2 2023. Key highlights include:
- U.S. net revenue increased 48% to $17.6 million
- International net revenue grew 65% to $9.4 million
- Global end user demand up 6% to 3,821 units
- Net loss improved to $(3.3) million from $(10.7) million in Q2 2023
- Adjusted EBITDA of $6.7 million vs. $0.9 million in Q2 2023
The company recently announced a definitive merger agreement with ANI Pharmaceuticals, valuing Alimera's equity at approximately $320 million in upfront consideration. The transaction is expected to close later this year.
Alimera Sciences announced inducement awards under Nasdaq Listing Rule 5635(c)(4) linked to the recruitment of five non-executive employees. Approved on May 22, 2024, the awards grant options to purchase 64,000 shares of common stock at $3.00 per share. These options will vest over four years, with 25% vesting after one year and the remaining 75% vesting in equal monthly installments over the next 36 months. The awards are part of Alimera's 2024 Equity Inducement Plan and are designed to attract new talent.
Alimera Sciences reported a 70% increase in net revenue, reaching $23 million in Q1 2024, compared to $13.5 million in Q1 2023. U.S. net revenue surged 92% to $14.6 million, while international revenue grew 42% to $8.5 million. Despite a net loss of $6.3 million, Alimera achieved a positive adjusted EBITDA of $1.8 million. Key milestones include the completion of enrollment in the Synchronicity Study and NICE’s recommendation for ILUVIEN access in the UK. However, total operating expenses rose to $22 million, driven by sales, marketing, and amortization costs.
Alimera Sciences, Inc. (Nasdaq: ALIM) announced the presentation of three scientific abstracts at upcoming ophthalmic congresses. The abstracts will focus on safety outcomes and retinal thickness related to the 0.18 mg Fluocinolone Acetonide Intravitreal Implant in patients with Chronic Non-infectious Uveitis. The conferences include the ARVO and RWC, showcasing research by renowned physicians in the field.
Alimera Sciences, a global pharmaceutical company, will report its first quarter 2024 financial results on May 14, 2024, and hold a conference call at 9:00 AM ET on the same day to discuss financial performance and corporate updates. Participants can register for the conference call online or dial-in directly. A webcast replay will be available after the call.
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