ALIM Alimera Sciences Inc.

5.76
+0.05  (+1%)
Previous Close 5.71
Open 5.66
52 Week Low 0.0045
52 Week High 14.241
Market Cap $28,982,851
Shares 5,031,745
Float 4,474,182
Enterprise Value $88,568,263
Volume 35,148
Av. Daily Volume 28,400
Stock charts supplied by TradingView

Drug Pipeline

Drug Stage Notes
Iluvien
Diabetic macular edema
Approved
Approved
CRL Nov 2011. Second CRL Oct 17 2013. Approved Sept 26 2014

Latest News

  1. NEW YORK, NY / ACCESSWIRE / June 3, 2020 / The Virtual Summer Summit will take place on June 9th-12th, connecting 47 presenting small and microcap companies with distinguished investors from around the globe. A full list of issuers are listed below along with webcasting links to view presentations.

    Company

    Ticker

    Webcasting Link

    ACCO Brands Corporation

    ACCO

    Participating in meetings only

    Alimera Sciences, Inc.

    ALIM

    https://www.webcaster4.com/Webcast/Page/2038/35019

    Annovis Bio

    ANVS

    https://www.webcaster4.com/Webcast/Page/2038/35035

    AquaBounty Technologies, Inc.

    AQB

    https://www.webcaster4.com/Webcast/Page/2038/35133

    Arch Therapeutics, Inc.

    ARTH

    https://www.webcaster4.com/Webcast/Page/2038/35130

    Artelo Biosciences…

    NEW YORK, NY / ACCESSWIRE / June 3, 2020 / The Virtual Summer Summit will take place on June 9th-12th, connecting 47 presenting small and microcap companies with distinguished investors from around the globe. A full list of issuers are listed below along with webcasting links to view presentations.

    Company

    Ticker

    Webcasting Link

    ACCO Brands Corporation

    ACCO

    Participating in meetings only

    Alimera Sciences, Inc.

    ALIM

    https://www.webcaster4.com/Webcast/Page/2038/35019

    Annovis Bio

    ANVS

    https://www.webcaster4.com/Webcast/Page/2038/35035

    AquaBounty Technologies, Inc.

    AQB

    https://www.webcaster4.com/Webcast/Page/2038/35133

    Arch Therapeutics, Inc.

    ARTH

    https://www.webcaster4.com/Webcast/Page/2038/35130

    Artelo Biosciences, Inc.

    ARTL

    https://www.webcaster4.com/Webcast/Page/2038/35016

    Avalon Adv Materials

    AVLNF

    https://www.webcaster4.com/Webcast/Page/2038/35132

    Bellicum Pharmaceuticals

    BLCM

    https://www.webcaster4.com/Webcast/Page/2038/35045

    C-Bond Systems

    CBNT

    https://www.webcaster4.com/Webcast/Page/2038/35029

    Endra Life Sciences

    NDRA

    https://www.webcaster4.com/Webcast/Page/2038/35129

    Energy Focus, Inc.

    EFOI

    https://www.webcaster4.com/Webcast/Page/2038/35027

    Equillium

    EQ

    https://www.webcaster4.com/Webcast/Page/2038/35188

    Exro Technologies Inc.

    EXROF

    https://www.webcaster4.com/Webcast/Page/2038/35052

    GreenPower Motor Company

    GPV

    https://www.webcaster4.com/Webcast/Page/2038/35185

    Hecla Mining Company

    HL

    Participating in meetings only

    Heidrick & Struggles International, Inc.

    HSII

    https://www.webcaster4.com/Webcast/Page/2038/35053

    Helius Medical Technologies

    HSDT

    https://www.webcaster4.com/Webcast/Page/2038/35021

    Heritage Global Inc

    HGBL

    https://www.webcaster4.com/Webcast/Page/2038/35131

    Ideal Power

    IPWR

    https://www.webcaster4.com/Webcast/Page/2038/35031

    IMAC Holdings, Inc.

    IMAC

    https://www.webcaster4.com/Webcast/Page/2038/35146

    Lincoln Educational Services

    LINC

    https://www.webcaster4.com/Webcast/Page/2038/35028

    MailUp Group

    MAIL

    https://www.webcaster4.com/Webcast/Page/2038/35047

    Marrone Bio

    MBII

    https://www.webcaster4.com/Webcast/Page/2038/35033

    Medexus

    MDP.V

    https://www.webcaster4.com/Webcast/Page/2038/35128

    Medicenna Therapeutics

    TSX: MDNA

    https://www.webcaster4.com/Webcast/Page/2038/35034

    Milestone Scientific

    MLSS

    https://www.webcaster4.com/Webcast/Page/2038/35125

    My Size, Inc.

    MYSZ

    https://www.webcaster4.com/Webcast/Page/2038/35024

    Nephros

    NEPH

    https://www.webcaster4.com/Webcast/Page/2038/35014

    NewAge Beverage

    NBEV

    https://www.webcaster4.com/Webcast/Page/2038/35141

    Nova Leap Health Corp

    NLH

    https://www.webcaster4.com/Webcast/Page/2038/35042

    Oblong Inc.

    OBLG

    https://www.webcaster4.com/Webcast/Page/2038/35025

    OncoSec Medical Incorporated

    ONCS

    https://www.webcaster4.com/Webcast/Page/2038/35011

    Oragenics

    OGEN

    https://www.webcaster4.com/Webcast/Page/2038/35043

    PDS Biotechnology Corporation

    PDSB

    https://www.webcaster4.com/Webcast/Page/2038/35018

    Safeguard Scientifics, Inc.

    SFE

    https://www.webcaster4.com/Webcast/Page/2038/35143

    SELLAS Life Sciences Group, Inc.

    SLS

    Participating in meetings only

    ShiftPixy

    PIXY

    https://www.webcaster4.com/Webcast/Page/2038/35032

    Sigma Labs, Inc.

    SGLB

    https://www.webcaster4.com/Webcast/Page/2038/35153

    Sono-Tek Corporation

    SOTK

    https://www.webcaster4.com/Webcast/Page/2038/35022

    Timber

    Private

    https://www.webcaster4.com/Webcast/Page/2038/35017

    Tinybeans Group Limited

    TNY.AX

    https://www.webcaster4.com/Webcast/Page/2038/35046

    Tonix Pharmaceuticals Holding Corp.

    TNXP

    https://www.webcaster4.com/Webcast/Page/2038/35044

    TransGlobe Energy

    TGA

    https://www.webcaster4.com/Webcast/Page/2038/35051

    Trxade Group, Inc.

    MEDS

    https://www.webcaster4.com/Webcast/Page/2038/35123

    Ur-Energy Inc.

    URG

    https://www.webcaster4.com/Webcast/Page/2038/35030

    VIQ Solutions, Inc.

    VQS.V

    https://www.webcaster4.com/Webcast/Page/2038/35145

    Western Magnesium

    MLYF

    https://www.webcaster4.com/Webcast/Page/2038/35050

    About the Investor Summit

    The Investor Summit Group (formerly MicroCap Conference) is an exclusive, independent conference dedicated to connecting smallcap and microcap companies with qualified investors. Having produced successful conferences over the past 5 years, the upcoming event will be the 2nd virtual edition added to our growing portfolio where hundreds of high-quality meetings between executives and investors will take place over 4 days. We pride ourselves on building community and providing a platform for our industry and look forward to launching new features at the upcoming Summer Summit such as virtual roundtable discussions and a stock pitch session to promote networking in a virtual format.

    To register for the upcoming Investor Summit, visit our website at www.investorsummitgroup.com

    Media Partner: Investor Brand Network, www.InvestorBrandNetwork.com

    News Compliments of ACCESSWIRE

    FOR MORE INFORMATION

    Please visit: www.investorsummitgroup.com
    Or, contact Cassandra Miller at

    SOURCE: The Investor Summit Group

    View source version on accesswire.com:
    https://www.accesswire.com/592484/47-Public-Companies-to-present-at-the-Summer-Virtual-Investor-Summit-on-June-9th-12th

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  2. ATLANTA, June 03, 2020 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (NASDAQ:ALIM) (Alimera), a leader in the commercialization and development of prescription ophthalmology treatments for the management of retinal diseases, today announced that Rick Eiswirth, Alimera's President and Chief Executive Officer will give a corporate presentation at the June 2020 Virtual Summer Investor Summit taking place online from June 9- 12, 2020.

    The presentation will be held on Tuesday, June 9, 2020 at 3:55 pm ET, followed by a live Q&A session with registered investors and other conference attendees. A live webcast of the presentation will be available here https://www.webcaster4.com/Webcast/Page/2038/35019. Mr. Eiswirth will be available for one-on-one meetings…

    ATLANTA, June 03, 2020 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (NASDAQ:ALIM) (Alimera), a leader in the commercialization and development of prescription ophthalmology treatments for the management of retinal diseases, today announced that Rick Eiswirth, Alimera's President and Chief Executive Officer will give a corporate presentation at the June 2020 Virtual Summer Investor Summit taking place online from June 9- 12, 2020.

    The presentation will be held on Tuesday, June 9, 2020 at 3:55 pm ET, followed by a live Q&A session with registered investors and other conference attendees. A live webcast of the presentation will be available here https://www.webcaster4.com/Webcast/Page/2038/35019. Mr. Eiswirth will be available for one-on-one meetings online as well. Interested investors may request a meeting time by emailing .

    About Alimera Sciences, Inc.

    Alimera is a pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharmaceuticals. Alimera is presently focused on diseases affecting the back of the eye, or retina, because these diseases are not well treated with current therapies and affect millions of people globally. For more information, please visit www.alimerasciences.com.

    For investor inquiries:  For media inquiries:
    Scott Gordon  Jules Abraham
    for Alimera Sciences  for Alimera Sciences
     

    Primary Logo

    View Full Article Hide Full Article
  3. First Quarter and Recent Company Highlights:

    • Consolidated Net Revenue Up 12% Compared to First Quarter 2019
    • International Net Revenue Up 23% Compared to First Quarter 2019
    • Net Loss of $1.2 Million vs. Net Loss of $2.8 million in First Quarter 2019
    • $1.3 Million Positive Adjusted EBITDA

    ATLANTA, April 29, 2020 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (NASDAQ:ALIM) (Alimera), a leader in the commercialization and development of prescription ophthalmology treatments for the management of retinal diseases, announces financial results for the three months ended March 31, 2020. Alimera will host a conference call on Thursday, April 30, 2020 at 9:00 AM ET to review these financial results and provide an update on corporate developments.

    "I want…

    First Quarter and Recent Company Highlights:

    • Consolidated Net Revenue Up 12% Compared to First Quarter 2019
    • International Net Revenue Up 23% Compared to First Quarter 2019
    • Net Loss of $1.2 Million vs. Net Loss of $2.8 million in First Quarter 2019
    • $1.3 Million Positive Adjusted EBITDA

    ATLANTA, April 29, 2020 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (NASDAQ:ALIM) (Alimera), a leader in the commercialization and development of prescription ophthalmology treatments for the management of retinal diseases, announces financial results for the three months ended March 31, 2020. Alimera will host a conference call on Thursday, April 30, 2020 at 9:00 AM ET to review these financial results and provide an update on corporate developments.

    "I want to recognize both our employees who have addressed the challenges of COVID-19 with great energy and dedication and the retina physicians and their staffs around the world who are serving patients during this difficult time. As for the first quarter results, we are pleased to report consolidated revenue of $14.5 million, a 12% gain over the first quarter of last year. We also narrowed our GAAP net loss by 57% while achieving $1.3 million in positive adjusted EBITDA despite the advent of the coronavirus pandemic in the quarter," said Rick Eiswirth, Alimera's President and Chief Executive Officer.  Mr. Eiswirth continued: "With the onset of COVID-19 in the regions where we operate, our access to physicians, and patients' willingness to visit physicians, has become limited, especially for diabetic patients who have been advised they are at higher risk for severe illness from COVID-19. With very little in-person access to physicians and hospitals, it has been challenging or impossible for our sales representatives to meet with retina specialists and their staff to educate them about the benefits of ILUVIEN©. These limitations and other effects of COVID-19 had a material adverse impact on our revenues late in the first quarter and in the month of April. We expect these factors to continue to adversely impact our revenue, but the extent and duration of that impact is uncertain at this time.  Therefore, we are aggressively managing our non-payroll expenses to mitigate this loss of revenue and retain our personnel to serve physicians when access is restored."

    Mr. Eiswirth further observed, regarding ILUVIEN: "We believe that the COVID-19 experience highlights the benefits of ILUVIEN as a non-acute therapy treating diabetic macular edema and uveitis consistently and continuously for up to three years while reducing the recurrence of these diseases. As more patients begin to return to physician clinics, we expect physicians will need to manage through a significant backlog of patients and will consider reducing the risk of COVID-19 exposure to patients by adopting a therapy like ILUVIEN that requires fewer office visits than short-acting treatments."

    First Quarter 2020 Financial Results

    Consolidated Net Revenue

    Consolidated net revenue for Q1 2020 grew 12% to $14.5 million, compared to $12.9 million for Q1 2019.

    U.S. net revenue was $7.1 million for Q1 2020, up 4% from $6.8 million during the same period in 2019. End user demand, which represents units purchased by physicians and pharmacies from Alimera's U.S. distributors, decreased in Q1 2020 to 855 units compared to 973 units in Q1 2019 due to the impact from the COVID-19 virus pandemic late in the first quarter, as well as a temporary shortage in stock in the U.S. in the first quarter. There was no material increase in the stock levels held by the company's U.S. distributors during the quarter, as sales to distributors only differed from end user demand by approximately 3%.

    International net revenue increased 23% to approximately $7.5 million in Q1 2020, compared to approximately $6.1 million for the same period during 2019, driven primarily by growth in our DME business in Alimera's direct markets as well as the launches of ILUVIEN's uveitis indication in Germany and the U.K. in the second half of 2019.

    Operating Expenses
    Total operating expenses for Q1 2020 decreased by $0.3 million or 2% to $12.4 million, compared to $12.7 million during Q1 2019. 

    Net Loss and Non-GAAP Adjusted EBITDA
    For Q1 2020, Alimera reported a net loss of approximately $1.2 million, compared to a net loss of $2.8 million for Q1 2019. "Adjusted EBITDA," a non-GAAP financial measure defined below, was approximately $1.3 million for Q1 2020, compared to approximately $27,000 for Q1 2019.

    Net Loss per Share
    Basic and diluted net loss per share for Q1 2020 was $0.24. This compares to basic and diluted net loss per share for Q1 2019 of $0.59.

    Cash and Cash Equivalents
    On February 24, 2020, Alimera announced that it had drawn down the remaining $2.5 million under the $45 million term loan agreement with its current lenders, investment affiliates managed by Solar Capital Partners, LLC. Under the terms of the agreement, Alimera had the option to draw down an additional $2.5 million if it achieved $30.0 million in revenue for any trailing six-month period ending on or before November 30, 2020. The $2.5 million loan brings the total Alimera borrowings under the agreement to the maximum $45 million available.

    As of March 31, 2020, Alimera had cash and cash equivalents of approximately $12.2 million, compared to $9.4 million in cash and cash equivalents as of December 31, 2019.

    On April 23, 2020, Alimera announced that it received on April 22, 2020 approximately $1.8 million in support from the federal government under the Paycheck Protection Program.

    Definition of Non-GAAP Financial Measure
    For purposes of this press release, "Adjusted EBITDA" is defined as earnings before interest, taxes, depreciation, amortization, stock-based compensation expenses, net unrealized gains and losses from foreign currency exchange transactions, losses on extinguishment of debt and severance expenses. Please refer to the sections of this press release entitled "Non-GAAP Financial Measure" and "Reconciliation of GAAP Net Loss to Non-GAAP Adjusted EBITDA."

    Conference Call to Be Held April 30, 2020
    A live conference call will be hosted on April 30, 2020 at 9:00am eastern time by Rick Eiswirth, President and Chief Executive Officer, and Phil Jones, Chief Financial Officer, to discuss Alimera's financial results. Please refer to the information below for conference call dial-in information and webcast registration.

    Conference date: Thursday April 30, 2020 9:00 AM ET
    Conference dial-in:  866-777-2509
    International dial-in: 412-317-5413
    Conference Call Name: Alimera Sciences (NASDAQ:ALIM) First Quarter 2020 Financial Results and Corporate Update Conference Call
    Conference Call Pre-registration: 
    Participants can register for the conference by navigating to http://dpregister.com/10142450
    Please note that registered participants will receive their dial in number upon registration and will dial directly into the call without delay.
    Live Webcast URL: https://services.choruscall.com/links/alimera200430.html

    A replay will be available on Alimera's website, www.alimerasciences.com, under "Investor Relations" one hour following the live call.
    Conference Call replay: US Toll Free: 1-877-344-7529
    International Toll: 1-412-317-0088
    Canada Toll Free: 855-669-9658
    Replay Access Code: 10142450
    End Date: May 14, 2020

    About Alimera Sciences, Inc.

    www.alimerasciences.com

    Alimera is a pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharmaceuticals. Alimera is presently focused on diseases affecting the back of the eye, or retina, because these diseases are not well treated with current therapies and affect millions of people globally. For more information, please visit www.alimerasciences.com.

    Non-GAAP Financial Measure

    This press release contains a discussion of a non-GAAP financial measure, as defined in Regulation G promulgated under the Securities Exchange Act of 1934, as amended. Alimera reports its financial results in compliance with GAAP but believes that the non-GAAP measure of Adjusted EBITDA provides useful information to investors regarding Alimera's operating performance.  Alimera uses Adjusted EBITDA in the management of its business. Accordingly, Adjusted EBITDA for the three months March 31, 2020 has been presented in certain instances excluding items identified in the reconciliations provided in the table entitled "Reconciliation of GAAP Net Loss to non-GAAP Adjusted EBITDA." GAAP net loss is the most directly comparable GAAP financial measure to Adjusted EBITDA. 

    Adjusted EBITDA, as presented, may not be comparable to similarly titled measures reported by other companies because not all companies may calculate Adjusted EBITDA in an identical manner. Therefore, Adjusted EBITDA is not necessarily an accurate measure of comparison between companies.

    The presentation of Adjusted EBITDA is not intended to be considered in isolation or as a substitute for guidance prepared in accordance with GAAP. The principal limitation of this non-GAAP financial measure is that it excludes significant elements required by GAAP to be recorded in Alimera's financial statements. In addition, Adjusted EBITDA is subject to inherent limitations as it reflects the exercise of judgments by management in determining this non-GAAP financial measure.

    About ILUVIEN

    ILUVIEN (fluocinolone acetonide intravitreal implant) 0.19 mg is a sustained release intravitreal implant, injected into the back of the eye. With its CONTINUOUS MICRODOSING™ technology, ILUVIEN is designed to release submicrogram levels of fluocinolone acetonide, a corticosteroid, for up to 36 months, to reduce the recurrence of disease, enabling patients to maintain vision longer with fewer injections. ILUVIEN is approved in the U.S., Canada, Kuwait, Lebanon and the U.A.E. to treat diabetic macular edema (DME) in patients who have been previously treated with a course of corticosteroids and did not have a clinically significant rise in intraocular pressure. In 17 European countries, ILUVIEN is indicated for the treatment of vision impairment associated with chronic DME considered insufficiently responsive to available therapies and for prevention of relapse in recurrent non-infectious uveitis affecting the posterior segment of the eye (NIPU). Alimera does not have the contractual right to pursue approval to treat uveitis in the U.S., and therefore does not have a regulatory license in the U.S. to treat NIPU. For important safety information on ILUVIEN, see https://iluvien.com/#isi

    Forward Looking Statements

    This press release contains, and the remarks by Alimera's officers on the conference call may contain, "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, regarding, among other things, Alimera's expectations regarding (a) the level of sales in this quarter, (b) the continuance of the current circumstances for patient visits with their physicians and the effects of those circumstances, (c) opportunities for the sale of ILUVIEN when patient visits resume at a more normal level, (d) Alimera's modification of its operational activities and the effect of those modifications, and (e) Alimera's intention to retain its personnel to serve physicians when access is restored. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change them, and could cause actual results to differ materially from those projected in the forward-looking statements. Meaningful factors that could cause actual results to differ include, but are not limited to,

    • uncertainty about the impact of COVID on Alimera's revenue, the duration of the pandemic, Alimera's ability to manage its expenses and whether it can manage those expenses sufficiently to mitigate the loss of revenue;
    • other adverse effects of COVID-19 in the regions where Alimera has customers, employees and distributors;
    • the adverse effects of COVID-19 on sales of ILUVIEN resulting from (a) limitations on in-person access to physicians and (b) the unwillingness of patients, many of whom suffer from diabetic macular edema, to visit their physicians in person due to their fear of contracting COVID-19;
    • Alimera's ability to retain its personnel, given the uncertain COVID-19 environment and the anticipated lower level of sales of ILUVIEN or

    other unexpected circumstances, and other factors discussed in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Alimera's Annual Report on Form 10-K for the year ended December 31, 2019, which are on file with the Securities and Exchange Commission (SEC) and available on the SEC's website at http://www.sec.gov. Additional factors will also be described in those sections of Alimera's Quarterly Report on Form 10-Q for the first quarter of 2020, to be filed with the SEC soon.

    The forward-looking statements in this press release speak only as of the date of this press release (unless another date is indicated). Alimera undertakes no obligation, and specifically declines any obligation, to publicly update or revise any such forward-looking statements, whether as a result of new information, future events or otherwise.

    For investor inquiries:               
    Scott Gordon
    for Alimera Sciences
               
    For media inquiries:
    Jules Abraham
    for Alimera Sciences
     


    ALIMERA SCIENCES, INC.
    CONSOLIDATED BALANCE SHEETS
    (in thousands)

     
               
      March 31,
    2020
      December 31,
    2019
      (unaudited)    
    CURRENT ASSETS:      
    Cash and cash equivalents $ 12,242     $ 9,426  
    Restricted cash 31     33  
    Accounts receivable, net 16,179     19,331  
    Prepaid expenses and other current assets 2,497     2,565  
    Inventory 1,196     1,390  
    Total current assets 32,145     32,745  
    NON-CURRENT ASSETS:      
    Property and equipment, net 867     940  
    Right of use assets, net 967     1,107  
    Intangible asset, net 14,299     14,783  
    Deferred tax asset 720     734  
    TOTAL ASSETS $ 48,998     $ 50,309  
    CURRENT LIABILITIES:      
    Accounts payable $ 5,833     $ 7,077  
    Accrued expenses 3,045     4,716  
    Finance lease obligations 243     255  
    Total current liabilities 9,121     12,048  
    NON-CURRENT LIABILITIES:      
    Note payable, net of discount 41,395     38,658  
    Finance lease obligations — less current portion 97     94  
    Other non-current liabilities 3,789     3,954  
    COMMITMENTS AND CONTINGENCIES      
    STOCKHOLDERS' DEFICIT:      
    Preferred stock:      
    Series A Convertible Preferred Stock 19,227     19,227  
    Series C Convertible Preferred Stock 11,117     11,117  
    Common stock 50     50  
    Additional paid-in capital 350,442     350,117  
    Common stock warrants 3,707     3,707  
    Accumulated deficit (388,768 )   (387,570 )
    Accumulated other comprehensive loss (1,179 )   (1,093 )
    TOTAL STOCKHOLDERS' DEFICIT (5,404 )   (4,445 )
    TOTAL LIABILITIES AND STOCKHOLDERS' DEFICIT $ 48,998     $ 50,309  


    ALIMERA SCIENCES, INC.
    CONSOLIDATED STATEMENTS OF OPERATIONS
    FOR THE THREE MONTHS ENDED MARCH 31, 2020 AND 2019
    (in thousands, except share and per share data)

               
      Three Months Ended
    March 31,
      2020   2019
      (Unaudited)
       
    NET REVENUE $ 14,535     $ 12,890  
    COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION (1,927   (1,600
    GROSS PROFIT 12,608     11,290  
           
    RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES 2,883     2,727  
    GENERAL AND ADMINISTRATIVE EXPENSES 3,181     3,393  
    SALES AND MARKETING EXPENSES 5,672     5,913  
    DEPRECIATION AND AMORTIZATION 654     652  
    OPERATING EXPENSES 12,390     12,685  
    NET INCOME (LOSS) FROM OPERATIONS 218     (1,395
           
    INTEREST EXPENSE AND OTHER (1,292   (1,228
    UNREALIZED FOREIGN CURRENCY LOSS, NET (81 )   (69 )
    NET LOSS BEFORE TAXES (1,155   (2,692
    PROVISION FOR TAXES (43   (71
    NET LOSS $ (1,198   $ (2,763
    NET LOSS PER SHARE — Basic and diluted $ (0.24   $ (0.59
    WEIGHTED AVERAGE SHARES OUTSTANDING — Basic and diluted 4,980,722     4,716,054  


    ALIMERA SCIENCES, INC.
    REPORTABLE SEGMENT INFORMATION
    FOR THE THREE MONTHS ENDED MARCH 31, 2020 AND 2019
    (in thousands)

     
        Three Months Ended
    March 31, 2020
      Three Months Ended
    March 31, 2019
          U.S.
      International 
       Other
       Consolidated
       U.S.
      International
      Other
      Consolidated
        (unaudited)
      NET REVENUE $ 7,068  

     
      $ 7,467  

     
      $  

     
      $ 14,535  

     
      $ 6,766    
    $ 6,124  

     
      $  

     
      $ 12,890  

     
      COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION (759 )   (1,168 )       (1,927 )   (685   (915 )       (1,600 )
      GROSS PROFIT 6,309     6,299         12,608     6,081     5,209         11,290  
       
      RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES 1,922     893     68     2,883     1,427     1,170     130     2,727  
      GENERAL AND ADMINISTRATIVE EXPENSES 1,973     936     272     3,181     1,933     988     472     3,393  
      SALES AND MARKETING EXPENSES 4,280     1,292     100     5,672     4,041     1,705     167     5,913  
      DEPRECIATION AND AMORTIZATION         654     654             652     652  
      OPERATING EXPENSES 8,175     3,121     1,094     12,390     7,401     3,863     1,421     12,685  
      SEGMENT (LOSS) INCOME FROM OPERATIONS (1,866 )   3,178     (1,094 )   218     (1,320 )   1,346     (1,421 )   (1,395 )
      OTHER INCOME AND EXPENSES, NET         (1,373 )   (1,373 )           (1,297 )   (1,297 )
      NET LOSS BEFORE TAXES             $ (1,155 )               $ (2,692 )


    RECONCILIATION OF GAAP MEASURES TO NON-GAAP ADJUSTED MEASURES
    GAAP NET LOSS TO NON-GAAP ADJUSTED EBITDA
    (in thousands)

               
      Three Months Ended
    March 31,
      2020   2019
      (Unaudited)
       
       
    GAAP NET LOSS $ (1,198 )   $ (2,763 )
    Adjustments to net loss:      
    Interest expense and other 1,292     1,228  
    Provision for taxes 43     71  
    Depreciation and amortization 654     652  
    Stock-based compensation expenses 440     770  
    Unrealized foreign currency exchange losses   81     69  
    NON-GAAP ADJUSTED EBITDA $ 1,312     $ 27  

     

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  4. ATLANTA, April 24, 2020 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (NASDAQ:ALIM) (Alimera), a leader in the commercialization and development of prescription ophthalmology treatments for the management of retinal diseases, announces that it will report first quarter 2020 financial results on Wednesday, April 29, 2020 after the market close.

    Management will host a conference call at 9:00 AM ET on Thursday, April 30, 2020, to review financial results and provide an update on corporate developments.  Following management's formal remarks, there will be a question and answer session.

    Participants are asked to pre-register for the call through the following link: http://dpregister.com/10142450. Please note that registered participants will receive…

    ATLANTA, April 24, 2020 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (NASDAQ:ALIM) (Alimera), a leader in the commercialization and development of prescription ophthalmology treatments for the management of retinal diseases, announces that it will report first quarter 2020 financial results on Wednesday, April 29, 2020 after the market close.

    Management will host a conference call at 9:00 AM ET on Thursday, April 30, 2020, to review financial results and provide an update on corporate developments.  Following management's formal remarks, there will be a question and answer session.

    Participants are asked to pre-register for the call through the following link: http://dpregister.com/10142450. Please note that registered participants will receive their dial in number upon registration and will dial directly into the call without delay. Those without internet access or unable to pre-register may dial in by calling: 1-866-777-2509 (domestic) or 1-412-317-5413 (international). All callers should dial in approximately 10 minutes prior to the scheduled start time and ask to be joined into the Alimera Sciences call. The conference call will also be available through a live webcast, which can be accessed through the following link: https://services.choruscall.com/links/alimera200430.html which is also available through the company's website at http://client.irwebkit.com/alimerasciences/events.

    A webcast replay of the call will be available approximately one hour after the end of the call through July 30, 2020.  The replay can be accessed through the above links or by calling 1-877-344-7529 (domestic) or 1-412-317-0088 (international) and using access code 10142450. The telephonic replay will be available until May 30, 2020.

    About Alimera Sciences, Inc.

    Alimera Sciences is a pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharmaceuticals. Alimera is presently focused on diseases affecting the back of the eye, or retina, because these diseases are not well treated with current therapies and affect millions of people in our aging populations. For more information, please visit www.alimerasciences.com.

    For press inquiries:
    Jules Abraham
    for Alimera Sciences
    917-885-7378
    For investor inquiries:
    Scott Gordon
    for Alimera Sciences


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  5. ATLANTA, April 23, 2020 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (NASDAQ:ALIM) (Alimera), a global pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharmaceuticals for the treatment of retinal diseases, today announces it received on April 22, 2020 approximately $1.8 million in support from the federal government under the Paycheck Protection Program (PPP).

    The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act (CARES Act), provides for loans to qualifying businesses for amounts up to 2.5 times the average monthly U.S. payroll costs of the qualifying business, calculated as provided under the PPP. The PPP also provides a mechanism for forgiveness of…

    ATLANTA, April 23, 2020 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (NASDAQ:ALIM) (Alimera), a global pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharmaceuticals for the treatment of retinal diseases, today announces it received on April 22, 2020 approximately $1.8 million in support from the federal government under the Paycheck Protection Program (PPP).

    The PPP, established as part of the Coronavirus Aid, Relief and Economic Security Act (CARES Act), provides for loans to qualifying businesses for amounts up to 2.5 times the average monthly U.S. payroll costs of the qualifying business, calculated as provided under the PPP. The PPP also provides a mechanism for forgiveness of up to the full amount borrowed as long as the borrower uses the loan proceeds during the eight-week period after the loan origination for eligible purposes, including payroll costs, certain benefits costs, rent and utilities costs, and maintains its employment and compensation levels, subject to certain other requirements and limitations. The amount of loan forgiveness is subject to reduction, among other reasons, if the borrower terminates employees or reduces salaries or wages during the eight-week period. Alimera currently has no intention to reduce staffing levels, salaries or wages.

    The PPP loan is unsecured and is evidenced by a note dated April 21, 2020 in favor of HSBC Bank USA, National Association as the lender. The interest rate on the note is 1.0% per annum. Payments of principal and interest are deferred for 180 days from the date of the note (the deferral period). Any unforgiven portion of the PPP loan is payable over a two-year term, with payments deferred during the deferral period. Alimera is permitted to prepay the note at any time without premium.

    "Our employee base is critical to continuing to serve our physician customers both now and when this pandemic subsides. Therefore, we intend to retain all our staff during this crisis," said Rick Eiswirth, Alimera's President and Chief Executive Officer. "Receiving this funding from the federal government is very helpful to executing on this plan." 

    About Alimera Sciences, Inc.

    www.alimerasciences.com

    Alimera Sciences is a pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharmaceuticals. Alimera is presently focused on diseases affecting the back of the eye, or retina, because these diseases are not well treated with current therapies and affect millions of people in our aging populations. For more information, please visit www.alimerasciences.com.

    Forward Looking Statements

    This press release may include "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995, regarding, among other things, Alimera's expectations regarding how it will use the PPP loan proceeds and its expectations regarding its staffing levels, salaries and wages. Such forward-looking statements are based on current expectations and involve inherent risks and uncertainties, including factors that could delay, divert or change these expectations, and could cause actual results to differ materially from those projected in these forward-looking statements. Meaningful factors that could cause actual results to differ include, but are not limited to, uncertainties associated with:

    (a) Alimera's ability to use the PPP loan proceeds for eligible purposes; and

    (b) Alimera's ability to maintain its current levels of staffing, salaries and wages, given the uncertain COVID-19 environment and the other factors cited or referred to in this paragraph, including the adverse effects of COVID-19, and its unpredictable duration, in the regions where we have customers, employees and distributors; and the adverse effect on sales of ILUVIEN® of (i) limitations on in-person access to physicians imposed by governments or healthcare facilities; and (ii) the unwillingness of patients to visit their physicians in person due to their fear of contracting COVID-19, as well as the other factors discussed in the "Risk Factors" and "Management's Discussion and Analysis of Financial Condition and Results of Operations" sections of Alimera's Annual Report on Form 10-K for the year ended December 31, 2019, which is on file with the SEC and available on the SEC's website at http://www.sec.gov. Alimera undertakes no obligation to publicly update or revise any of the forward-looking statements made in this press release, whether as a result of new information, future events or otherwise, except as required by law. Therefore, you should not rely on these forward-looking statements as representing Alimera's views as of any date after today.

    For investor inquiries:  For media inquiries:
    Scott Gordon  Jules Abraham
    for Alimera Sciences  for Alimera Sciences
     

     

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