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.

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ALIM Chart ALIM data by YCharts

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