Why Alimera Sciences (ALIM) Stock Is Up Today

NEW YORK (TheStreet) -- Shares of Alimera Sciences Inc. (ALIM)  closed up 1.69% to $5.42 on Tuesday after the company announced it had received a $25 million advance from Hercules Technology Growth Capital  (HTGC) .

The advance will allow Alimera to pay for its milestone obligation to the "licensor of certain intellectual property" triggered by the FDA's recent approval of the diabetic macular edema drug Iluvien.

Receipt of the advance was conditional on the FDA's approval of the drug on or before October 31, 2014.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

ALIM Chart ALIM data by YCharts

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks that can potentially TRIPLE in the next 12 months. Learn more.

More from Markets

Italian Bonds Slump as Government Mulls Anti-Euro Finance Minister

Italian Bonds Slump as Government Mulls Anti-Euro Finance Minister

Global Stocks Hold Gains as North Korea Response on Talks Soothes Nerves

Global Stocks Hold Gains as North Korea Response on Talks Soothes Nerves

Canopy Growth Lets Down Eager Pot Investors; PayPal Keeps Dominating -- ICYMI

Canopy Growth Lets Down Eager Pot Investors; PayPal Keeps Dominating -- ICYMI

Dow, S&P 500 and Nasdaq Tumble After Trump Calls Off North Korea Summit

Dow, S&P 500 and Nasdaq Tumble After Trump Calls Off North Korea Summit

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)

Inside Carnival's Mind Blowing New Horizon Cruise Ship (Video)