Alimera Sciences – ALIM – Expects to Begin Generating Revenue in the First Quarter of 2013
Alimera Sciences, Inc. (Nasdaq:ALIM), a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals, announced financial results for the second quarter ended June 30, 2012. Alimera believes that it is financially positioned to proceed with the direct commercialization of ILUVIEN, and that it will begin to generate revenue in the first quarter of 2013 with an initial commercial launch in Germany, followed by subsequent launches in the United Kingdom and France later that year.
ALIM – Second Quarter 2012 Financial Results
As of June 30, 2012, ALIM had cash, cash equivalents and investments of $22.3 million, compared to $33.6 million as of December 31, 2011. This cash and cash equivalents balance excludes any amounts to be received upon the closing of the Series A Preferred financing.
Research and development expenses for the second quarter of 2012 increased to $1.9 million, compared to $1.8 million for the second quarter of 2011. The majority of the company’s research and development expenses incurred to date have been related to the development of ILUVIEN.
General and administrative expenses in the second quarter of 2012 were $1.5 million, compared to $1.9 million in the second quarter of 2011.
Marketing expenses in the second quarter of 2012 were $1.1 million, compared to $1.3 million for the second quarter of 2011. Marketing expenses in the second quarter of 2012 were used primarily for assessing the commercial opportunity of, and developing market awareness and launch plans for, ILUVIEN in Europe.
Net loss for the quarter ended June 30, 2012 was $4.7 million, or $0.15 per common share, compared with a net loss of $5.2 million, or $0.17 per common share, for the quarter ended June 30, 2011. Net loss per share was based on 31,430,651 weighted average shares outstanding for the second quarter of 2012 and 31,354,243 weighted average shares outstanding for the second quarter of 2011.
About Alimera Sciences, Inc. – ALIM
Alimera Sciences, Inc.(ALIM), based in Alpharetta, Georgia, is a biopharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals. Presently Alimera is focused on diseases affecting the back of the eye, or retina. Its primary product, ILUVIEN, is an intravitreal implant containing fluocinolone acetonide (FAc), a non-proprietary corticosteroid with demonstrated efficacy in the treatment of ocular disease.
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Post Written By: Ed Liston
Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.
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