Alimera Sciences Announces Third Quarter 2016 Financial Results And Provides Business Update

ATLANTA, Nov. 02, 2016 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (NASDAQ:ALIM) (Alimera), a pharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals, today announced financial results for the quarter ended September 30, 2016.

Highlights
  • U.S. revenue increased 24% in the third quarter of 2016 compared to the third quarter of 2015.
  • International revenue increased 11% in the third quarter of 2016 compared to the third quarter of 2015.
  • Closing of $26.5 million public offering in 3 rd quarter and restructuring of Alimera's existing loan facility in October provides working capital to drive towards profitability.
  • First shipments to the Middle East market.

"Despite seasonality effects on our July business, we had very strong August and September sales reflecting the need for an alternative to anti-VEGF therapy and the increasing acceptance of corticosteroid use in treating DME," said Dan Myers, Alimera's Chief Executive Officer. "We are pleased to see the rising awareness that ILUVIEN is the only drug therapy that can treat the disease consistently every day by providing a continuous daily microdose," continued Mr. Myers.  "This represents a significant paradigm shift for physicians who are in the habit of using shorter duration high dose therapies that must be frequently repeated for many patients to achieve control of their DME.  Change takes time, but we remain confident that that we have the most effective therapy to treat DME supported by our generation of real world data in Europe that reinforces the efficacy and safety benefits of ILUVIEN," concluded Mr. Myers.

Middle East Distributor

Alimera recently announced that it had begun shipping ILUVIEN to MEAgate International FZLLC, its distribution partner headquartered in Dubai, for named patient sales in the Middle East. Alimera also announced that the first patient was treated in the Middle East in the third quarter of 2016. Further, a pricing code was published in Abu Dhabi in October of 2016, providing for reimbursement in that emirate of the United Arab Emirates.  It is anticipated that other emirates and countries in the Middle East will adopt similar reimbursement coding.

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