ALIM Alimera Sciences Inc.
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
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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
Annovis Bio
ANVS
AquaBounty Technologies, Inc.
AQB
Arch Therapeutics, Inc.
ARTH
Artelo Biosciences, Inc.
ARTL
Avalon Adv Materials
AVLNF
Bellicum Pharmaceuticals
BLCM
C-Bond Systems
CBNT
Endra Life Sciences
NDRA
Energy Focus, Inc.
EFOI
Equillium
EQ
Exro Technologies Inc.
EXROF
GreenPower Motor Company
GPV
Hecla Mining Company
HL
Participating in meetings only
Heidrick & Struggles International, Inc.
HSII
Helius Medical Technologies
HSDT
Heritage Global Inc
HGBL
Ideal Power
IPWR
IMAC Holdings, Inc.
IMAC
Lincoln Educational Services
LINC
MailUp Group
MAIL
Marrone Bio
MBII
Medexus
MDP.V
Medicenna Therapeutics
TSX: MDNA
Milestone Scientific
MLSS
My Size, Inc.
MYSZ
Nephros
NEPH
NewAge Beverage
NBEV
Nova Leap Health Corp
NLH
Oblong Inc.
OBLG
OncoSec Medical Incorporated
ONCS
Oragenics
OGEN
PDS Biotechnology Corporation
PDSB
Safeguard Scientifics, Inc.
SFE
SELLAS Life Sciences Group, Inc.
SLS
Participating in meetings only
ShiftPixy
PIXY
Sigma Labs, Inc.
SGLB
Sono-Tek Corporation
SOTK
Timber
Private
Tinybeans Group Limited
TNY.AX
Tonix Pharmaceuticals Holding Corp.
TNXP
TransGlobe Energy
TGA
Trxade Group, Inc.
MEDS
Ur-Energy Inc.
URG
VIQ Solutions, Inc.
VQS.V
Western Magnesium
MLYF
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 [email protected]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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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 [email protected].
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 [email protected] [email protected] 
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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.htmlA 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, 2020About 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.
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
[email protected]For media inquiries:
Jules Abraham
for Alimera Sciences
[email protected]ALIMERA SCIENCES, INC.
CONSOLIDATED BALANCE SHEETS
(in thousands)March 31,
2020December 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, 2020Three Months Ended
March 31, 2019U.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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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
[email protected]For investor inquiries:
Scott Gordon
for Alimera Sciences
[email protected]
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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.
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 [email protected] [email protected]