Alimera Sciences reports $22 million annual net loss
Alimera Sciences reported a net loss of $7.2 million, or $0.10 per share, in the fourth quarter of 2017 compared with a net loss of $5.9 million, or $0.09 per share, in the same quarter the previous year.
The company’s full year financial report included a net loss of $22 million, or $0.33 per share, compared with a net loss of $33.2 million, or $0.63 per share, in 2016, according to a press release.
Quarterly net revenue decreased from $10.7 million in 2016 to $9.1 million, which the company attributed to the timing of orders from two large U.S. distributors.
Net revenue for the year increased by 5% to $35.9 million from 2016 revenue of $34.3 million. U.S. net revenue increased 1% to $26.1 million from $25.8 million in 2016.
Research, development and medical affairs costs increased by $200,000 for the quarter to $3.1 million and $400,000 for the year to $12.8 million. Quarterly operating expenses went down from $15.1 million in 2016 to $13.8 million, while the year’s operating expenses were $48.9 million compared with $59.8 million in 2016.
Alimera reported cash and cash equivalents of $24.1 million as of Dec. 31.