Welcome to our dedicated page for Alimera Sciences news (Ticker: ALIM), a resource for investors and traders seeking the latest updates and insights on Alimera Sciences stock.
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) announced significant financial maneuvers on March 24, 2023, including the repurchase of its Series A Preferred Stock for approximately $938,000, eliminating a $24 million liquidation preference. The company also completed a $12 million private placement of Series B Preferred Stock and warrants at a 55% premium to the stock's closing price. Additionally, Alimera extended its $45 million term loan's maturity to April 2028, with the potential for further funding. The company appointed two new directors, enhancing its leadership team as it aims to improve its balance sheet and support its mission of retinal health.
Alimera Sciences (Nasdaq: ALIM) announces the release of its fourth quarter and full year 2022 financial results on March 31, 2023, prior to market opening. Following this, management will host a conference call at 9:00 AM ET to discuss results and corporate updates. Interested parties can pre-register or join via a live webcast.
Alimera Sciences (Nasdaq: ALIM) announced the appointment of Dr. Roger Sawhney to its Board of Directors, filling the position left by Dr. Brian K. Halak. Dr. Sawhney currently serves as CFO at Garuda Therapeutics, bringing extensive financial expertise from both the pharmaceutical and healthcare investment sectors. His previous roles include CFO of Omega Therapeutics and Director at KKR & Co. Inc. Alimera's President, Rick Eiswirth, emphasized Dr. Sawhney's valuable insights as the company focuses on growth in retinal health, particularly with the ILUVIEN product showing significant growth and the NEW DAY study nearing completion.
Alimera Sciences has announced the filing of a marketing authorization application in Switzerland for ILUVIEN®, a treatment for diabetic macular edema (DME), through its distribution partner Horus Pharma S.A.S. This marks a significant step in Alimera's geographic expansion efforts in Europe.
ILUVIEN is currently approved in 17 European countries and is also indicated in the U.S., Kuwait, and the U.A.E. The Swiss application seeks approval consistent with U.S. labeling, targeting patients previously treated with corticosteroids who have not experienced significant intraocular pressure increases.
On January 9, 2023, Alimera Sciences (Nasdaq: ALIM) appointed Russell L. Skibsted as Senior Vice President and Chief Financial Officer. Skibsted brings nearly 30 years of experience in financial management and business development, having previously served as CFO at various life sciences companies, including Rockwell Medical and BioTime, Inc. His expertise in acquisitions, capital markets, and investor relations is expected to advance Alimera's mission in retinal health and enhance growth opportunities, particularly for ILUVIEN, a treatment for diabetic macular edema.
Alimera Sciences (Nasdaq: ALIM) announced an amendment to its loan agreement with SLR Investment Corp, extending the interest-only period until March 31, 2023, with a possibility to extend to July 1, 2023. CEO Rick Eiswirth emphasized the productive relationship with SLR and the intention to explore long-term options collaboratively. The company's focus remains on retinal health and improving vision for patients. This update may ease immediate financial pressures as Alimera navigates its fiscal strategies.
Alimera Sciences recently presented findings at The Retina Society's annual meeting, highlighting consensus among retina specialists regarding the role of inflammation in diabetic retinopathy (DR) and diabetic macular edema (DME). Data from the PALADIN study revealed that the ILUVIEN implant effectively reduces retinal thickness variability, correlating to improved visual outcomes over 36 months. Key findings included the management of intraocular pressure elevation and a notable reduction in treatment burden. The study involved 202 eyes treated with ILUVIEN, demonstrating its long-term efficacy.
Alimera Sciences (NASDAQ: ALIM) reported Q3 2022 net product revenue of $13.6 million, up 11% year-over-year, despite an $800,000 negative impact from foreign currency fluctuations. When excluding these fluctuations, revenue grew by 18%. U.S. revenue soared by 27% to $8.9 million, driven by increased end user demand, while international revenue fell 10% to $4.7 million, impacted by currency dynamics. Operating expenses rose to $15.0 million, leading to a net loss of $5.3 million, up from $4.2 million in Q3 2021. Alimera's cash position decreased to $5.5 million as of September 30, 2022.
Alimera Sciences (Nasdaq: ALIM) will report its third quarter financial results on November 14, 2022, before market opening.
A conference call is scheduled for 9:00 AM ET on the same day to discuss the financial results and corporate developments. Participants can pre-register for the call and will receive dial-in details upon registration.
The call will also be accessible via a live webcast, and a replay will be available after the call until February 27, 2023.
Alimera Sciences has partnered with Medis Pharmaceutical to launch ILUVIEN for the treatment of non-infectious uveitis affecting the posterior segment in the Czech Republic this quarter. This follows the State Institute for Drug Control's confirmation of reimbursement after an agreement with the National Health Insurance Fund. ILUVIEN is designed to prevent relapses in adult patients and has received positive assessments in several European countries for similar indications.
FAQ
What is the current stock price of Alimera Sciences (ALIM)?
What is the market cap of Alimera Sciences (ALIM)?
What is Alimera Sciences, Inc. specialized in?
What is ILUVIEN?
Where is Alimera Sciences headquartered?
What are the latest financial results for Alimera Sciences?
Who is the new Chief Financial Officer of Alimera Sciences?
What recent clinical studies has Alimera Sciences completed?
In which regions is ILUVIEN approved?
What is the mission of Alimera Sciences?
What technology does ILUVIEN utilize?
Where can I find more information about Alimera Sciences?
