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Alimera posts $7.7 million first quarter loss

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Alimera Sciences reported a net loss of $7.7 million, or $0.11 per share, in the first quarter of 2018 compared with a net loss of $6.7 million, or $0.10 per share, in the first quarter of 2017, according to a press release.

Net revenue increased 48% from $6.6 million in 2017’s first 3 months to $9.8 million in the same time period of 2018. U.S. net revenue grew 59%, or $2.6 million, to $7 million in the quarter.

Total operating expenses increased from $11.5 million to $13.3 million for the quarter, with research, development and medical affairs costs increasing 33% to $2.8 million. This increase was attributed to a 2017 refund from the FDA that offset expenses but did not repeat this year.

Alimera had cash and cash equivalents totaling $20.3 million as of March 31.