Alimera Sciences, Inc. (ALIM) recently announced that it has entered into a definitive agreement with Minnesota-based biopharmaceutical company, ANI Pharmaceuticals, Inc. (ANIP) , wherein the latter has agreed to acquire Alimera.Shares of Alimera shot up 75.9% on Jun 24 following the news announcement, while ANIP shares rose 7.3%.Per the deal terms, Alimera is set to be acquired by ANIP for $5.50 per share in cash and its investors will be entitled to a contingent value right for up to $0.50 per share if ce ...

MILWAUKEE, June 24, 2024 /PRNewswire/ -- Ademi LLP is investigating Alimera (Nasdaq: ALIM) for possible breaches of fiduciary duty and other violations of law in its transaction with ANI Pharmaceuticals.Click here to learn how to join the https://www.ademilaw.com/case/alimera-sciences-inc or call Guri Ademi toll-free at 866-264-3995.  There is no cost or obligation to you.In the transaction, Alimera public shareholders will receive only $5.50 per share in cash at closing and one non-tradable contingent valu ...

Alimera Sciences (NASDAQ:ALIM) stock is rocketing higher on Monday after the pharmaceutical company announced an acquisition deal with ANI Pharmaceuticals (NASDAQ:ANIP).This agreement will have ANI Pharmaceuticals paying $5.50 per share for ALIM stock. It also includes contingent rights of 50 cents per share. These are payable if certain revenue goals are met in 2026 and 2027.Investors in Alimera Sciences will note that this offer is a 75% premium to ALIM stock’s prior closing price. It’s also an 82% premiu ...

Alimera Sciences Inc (NASDAQ: ALIM) rallied a whopping 75% in premarket today after ANI Pharmaceuticals Inc (NASDAQ: ANIP) said it will buy the Alpharetta, Georgia based company for about $381 million. Are you looking for signals & alerts from pro-traders? Sign-up to Invezz Signals™ for FREE. Takes 2 mins.ANI shares are roughly flat at writing.  Alimera Sciences stock valued at a 75% premiumCopy link to sectionANI Pharmaceuticals is willing to pay $5.50 in cash for each share of Alimera Sciences. It has als ...

Conference call scheduled for today at 8:30 a.m. ET Strengthens Rare Disease segment as largest driver of future growth, expected to add approximately $105 million in highly durable branded revenueAdds two commercial assets ILUVIEN® and YUTIQ® with significant growth potential, expanding ANI's foothold in key strategic therapeutic area of ophthalmology Anticipated to drive high single digit to low double digit accretion in adjusted non-GAAP EPS in 2025 and to be substantially accretive thereafterExpected to ...

Core Points - Alimera Sciences, Inc. announced the approval of inducement awards for five non-executive employees as part of their hiring strategy [1][2] - The inducement awards consist of stock options allowing the purchase of 64,000 shares at an exercise price of $3.00 per share, which is the closing price on the grant date [2] - The awards will vest over four years, with 25% vesting on the one-year anniversary of employment and the remaining 75% vesting in equal installments over the next 36 months [2] Company Overview - Alimera Sciences is a global pharmaceutical company focused on retinal health and improving vision longevity [3]

Financial Performance - Net revenue for the three months ended March 31, 2024, was $23,011,000, an increase of 70% compared to $13,546,000 for the same period in 2023[14] - Gross profit for the same period was $19,658,000, up from $11,518,000, reflecting a gross margin improvement[14] - The net loss for the three months ended March 31, 2024, was $6,251,000, compared to a net loss of $4,968,000 for the same period in 2023, resulting in a net loss per share of $0.12[14] - The company reported a net cash used in operating activities of $566,000 for the three months ended March 31, 2024, an improvement from $2,209,000 in the same period of 2023[21] - The company reported a net loss before taxes of $6.283 million for the three months ended March 31, 2024[145] - The company reported a net loss of $6.3 million for the three months ended March 31, 2024, compared to a net loss of $5.0 million in 2023[201] Operating Expenses - Total operating expenses increased to $21,960,000 from $14,820,000, primarily driven by higher sales and marketing expenses, which rose to $9,082,000 from $5,804,000[14] - Operating expenses increased to $22.0 million for the three months ended March 31, 2024, compared to $14.8 million in 2023, reflecting a 48.5% rise[201] - Stock-based compensation expense for the first quarter of 2024 was $845,000, reflecting the company's investment in employee incentives[26] - Research, development and medical affairs expenses increased by $0.2 million, or 5%, to $4.4 million for the three months ended March 31, 2024, compared to approximately $4.2 million for the same period in 2023[207] Cash and Assets - Cash and cash equivalents at the end of the period were $14,346,000, an increase from $13,117,000 at the end of the same period in 2023[21] - Total current assets increased to $54,469,000 from $52,423,000, with accounts receivable remaining stable at $34,224,000[11] - The total accumulated deficit as of March 31, 2024, was $424.741 million, an increase from $402.081 million at the end of the previous quarter[34] - As of March 31, 2024, total inventory increased to $2.206 million from $1.879 million as of December 31, 2023, representing a 17.4% increase[76] Liabilities and Debt - Total liabilities rose to $111,832,000 from $107,354,000, with long-term liabilities increasing to $90,043,000 from $79,625,000[11] - The company issued $5,000,000 in debt during the period, contributing to a net cash provided by financing activities of $2,967,000[21] - The Company entered into a $40.0 million loan agreement with SLR Investment Corp. in January 2018, which was refinanced to $45.0 million in December 2019[96] - The Company amended the 2019 Loan Agreement multiple times, with the most recent amendment increasing the loan facility from $67.5 million to $72.5 million[100] Revenue Recognition and Sales - The Company recognizes revenue based on ASC 606, with revenue from product sales recorded at the transaction price upon customer control, typically at delivery[44] - The Company recognizes collaboration and license revenue from upfront payments and milestone payments upon achieving specified objectives[54] - The Company has entered into a Product Rights Agreement with EyePoint Pharmaceuticals for the commercialization of YUTIQ, expanding its product portfolio[32] - The company recognized sales of ILUVIEN to international distributors in multiple countries, including the Middle East and China, indicating ongoing market expansion efforts[31] Stock and Equity - The Company issued 43,617,114 shares of common stock following the Mandatory Conversion of Series B Convertible Preferred Stock on August 15, 2023[117] - The 2023 Equity Incentive Plan reserves 3,231,755 shares of common stock, with an annual increase of 6% of outstanding shares starting from the first anniversary of the plan[119] - The 2024 Equity Inducement Plan reserves 800,000 shares for equity awards, approved without stockholder approval[120] - The total unrecognized compensation cost related to non-vested stock options was $4.9 million as of March 31, 2024, expected to be recognized over 3.27 years[122] Tax and NOLs - The company recorded a tax benefit of $32,000 for the three months ended March 31, 2024, with federal NOL carry-forwards of approximately $146.8 million and state NOL carry-forwards of approximately $106.8 million as of December 31, 2023[135] - The company is evaluating the impact of Section 382 limitations on its NOL carry-forwards due to ownership changes in late 2015 and 2023[137] - The Company utilized $1.1 million of net operating loss carryforwards from its Irish subsidiary as of December 31, 2023, and expects the remaining carryforward to be fully realizable in the future[138] Product Development and Market Expansion - ILUVIEN and YUTIQ are the only approved therapies for DME and NIU-PS that provide continuous daily therapeutic levels of corticosteroids for up to three years, significantly reducing the recurrence of these conditions[1] - The NEW DAY Study aims to evaluate ILUVIEN as a baseline therapy for early DME, with 300 treatment-naïve patients enrolled across 42 sites in the U.S.[5] - The SYNCHRONICITY Study has enrolled 110 patient eyes to assess the efficacy of YUTIQ in chronic inflammation over a treatment period of 36 months[6] - The Company acquired exclusive commercialization rights to YUTIQ for the treatment of chronic NIU-PS in May 2023, expanding its product portfolio[158]

Financial Data and Key Metrics Changes - Consolidated global net revenue increased 70% year-over-year to $23 million in Q1 2024, driven by the acquisition of YUTIQ and growth in global end-user demand [9][18] - Adjusted EBITDA was $1.8 million in Q1 2024, compared to an adjusted EBITDA loss of $2.4 million in Q1 2023 [9][21] - Net loss was approximately $6.3 million in Q1 2024, compared to approximately $5 million in Q1 2023 [21] Business Line Data and Key Metrics Changes - U.S. net revenue increased 92% to approximately $14.6 million in Q1 2024, primarily due to the acquisition of YUTIQ [10][18] - International net revenue grew 42% to approximately $8.5 million in Q1 2024, driven by a 53% increase in end-user demand [12][19] Market Data and Key Metrics Changes - U.S. end-user demand for products was up 96% in Q1 2024, including the addition of YUTIQ, and 2% on a pro forma basis [10][18] - International total end-user demand increased 53% to 2,050 units compared to Q1 2023 [19] Company Strategy and Development Direction - The company aims to grow the utilization of ILUVIEN and YUTIQ in 2024 and beyond, with a focus on cross-selling opportunities [23] - The NICE guidance in the U.K. is expected to expand the potential user base for ILUVIEN, positively impacting utilization in the second half of 2024 [13][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving $105 million in revenue and at least 20% adjusted EBITDA margins for the year [9][24] - The company anticipates revenue fluctuations due to seasonality, but remains optimistic about long-term growth prospects [10][21] Other Important Information - The company has increased its term loan agreement by $5 million to provide more operating flexibility [22] - The first patient has been randomized in a significant clinical trial evaluating treatment options for radiation retinopathy [16] Q&A Session Summary Question: Awareness of Product Indications - Management acknowledged that there is an awareness issue among physicians regarding the dual indications of their products and is implementing an education campaign [26][29] Question: Rebating Strategy - A non-clinical value program was implemented to provide value back to physician practices using ILUVIEN or YUTIQ more consistently, with expectations for a small impact in Q2 [30][31] Question: Financial Support for Protocol AL Trial - The company will contribute approximately $1.25 million over four to five years for the protocol AL trial [41] Question: Impact of NICE Recommendation - The NICE recommendation is expected to potentially double the market for available patients in the U.K., but the speed of adoption remains uncertain [45] Question: Sales and Marketing Expenses - The company expects sales and marketing expenses to normalize after one-time costs incurred in Q1 2024 [35][63] Question: Field Feedback on New Messaging - Initial feedback on the new messaging has been positive, with advocates recognizing the importance of early intervention [68]

Alimera Sciences (ALIM) came out with a quarterly loss of $0.12 per share versus the Zacks Consensus Estimate of a loss of $0.04. This compares to loss of $0.71 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -200%. A quarter ago, it was expected that this eye drug developer would post earnings of $0.02 per share when it actually produced a loss of $0.07, delivering a surprise of -450%.Over the last four quarters, the company ...

Revenue Growth - Net revenue increased by 70% to $23 million in Q1 2024 compared to $13.5 million in Q1 2023[3] - U.S. net revenue rose by 92% to approximately $14.6 million in Q1 2024, driven by the acquisition of YUTIQ[6] - International net revenue increased by 42% to approximately $8.5 million in Q1 2024, supported by growth in end user demand and distributor restocking[6] Demand and Units Sold - Global end user demand grew by 23% year-over-year, totaling 4,028 units for the quarter[3] Financial Performance - Adjusted EBITDA for Q1 2024 was positive at $1.8 million, compared to an adjusted EBITDA loss of $(2.4) million in Q1 2023[3] - The company reported a net loss of $6.3 million in Q1 2024, compared to a net loss of $5.0 million in Q1 2023[3] - U.S. GAAP net loss for Q1 2024 was $6,251,000, compared to a net loss of $4,968,000 in Q1 2023[18] - Non-GAAP adjusted EBITDA for Q1 2024 was $1,804,000, an improvement from a loss of $2,395,000 in Q1 2023[18] Operating Expenses - Total operating expenses increased to approximately $22 million in Q1 2024, up from $14.8 million in Q1 2023, primarily due to higher sales and marketing expenses[7] - Interest expense and other for Q1 2024 amounted to $3,739,000, up from $1,667,000 in Q1 2023[18] - Depreciation and amortization expenses increased to $3,085,000 in Q1 2024, compared to $681,000 in Q1 2023[18] - Stock-based compensation for Q1 2024 was $845,000, significantly higher than $226,000 in Q1 2023[18] - Foreign currency exchange losses were $196,000 in Q1 2024, compared to $13,000 in Q1 2023[18] - Severance expenses recorded in Q1 2024 were $176,000, with no such expenses reported in Q1 2023[18] Cash Position - Cash and cash equivalents as of March 31, 2024, were approximately $14.3 million, an increase from $12.1 million at the end of 2023[7] Future Outlook - The company aims to achieve $105 million in revenue and at least 20% EBITDA margins for the full year 2024[2] - The National Institute for Health and Care Excellence (NICE) recommended access to ILUVIEN for chronic diabetic macular edema patients in the UK, potentially expanding the market[4] Tax and Fair Value Changes - Income tax benefit for Q1 2024 was $(32,000), with no income tax benefit reported in Q1 2023[18] - Change in fair value of warrant asset was $46,000 in Q1 2024, compared to $(14,000) in Q1 2023[18]