This article is more than 5 years old. Information may no longer be current.
Alimera reports quarterly net loss of $4.7 million
Click Here to Manage Email Alerts
Alimera Sciences reported a net loss of $4.7 million in the second quarter, compared with a net loss of $5.2 million a year ago, according to a news release.
The company expects to begin soon the direct commercialization in Europe of Iluvien (sustained-release fluocinolone acetonide) for chronic diabetic macular edema, which would allow for the generation of revenue in 2013, the release said.
“We now have marketing authorization for Iluvien in Austria, Portugal, the United Kingdom, France and Germany, and pending authorizations in Spain and Italy,” Dan Myers, president and CEO of Alimera, said in the release. “Our preparation for the commercial launch of Iluvien in the EU in 2013 is well under way.”
In July, Alimera entered into a securities purchase agreement to raise $40 million in convertible preferred stock financing, according to the release. The company intends to use the net proceeds to fund commercialization of Iluvien in Germany, the U.K. and France.
The company also intends to resubmit its new drug application to the U.S. Food and Drug Administration for Iluvien for treatment of diabetic macular edema.