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Alimera Sciences(ALIM) - 2020 Q3 - Quarterly Report
2020-11-03 22:07
Table of Contents Securities registered pursuant to Section 12(b) of the Act: Title of each class Trading Symbol(s) Name of each exchange on which registered UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period f ...
Alimera Sciences(ALIM) - 2020 Q3 - Earnings Call Transcript
2020-10-31 16:23
Alimera Sciences, Inc. (NASDAQ:ALIM) Q3 2020 Earnings Conference Call October 29, 2020 9:00 AM ET Company Participants Scott Gordon - President, CORE IR Rick Eiswirth - President & Chief Executive Officer Phil Jones - Chief Financial Officer Conference Call Participants Yi Chen - HC Wainwright Alex Nowak - Craig-Hallum Capital Group James Molloy - Alliance Global Partners Operator Ladies and gentlemen, thank you for standing by. Good morning, and welcome to the Alimera Sciences Third Quarter 2020 Financial ...
Alimera Sciences(ALIM) - 2020 Q2 - Quarterly Report
2020-08-04 20:29
Revenue Performance - Net revenue decreased by approximately $900,000, or 8%, to approximately $10.0 million for the three months ended June 30, 2020, compared to approximately $10.9 million for the same period in 2019, primarily due to a revenue decrease of $3.9 million in the U.S. business related to the COVID-19 pandemic [144]. - Net revenue increased by approximately $900,000, or 4%, to approximately $24.6 million for the six months ended June 30, 2020, compared to approximately $23.7 million for the same period in 2019, driven by a $4.4 million increase in the international segment [145]. - The company experienced a $3.6 million decrease in U.S. business revenue due to the impact of the COVID-19 pandemic during the six months ended June 30, 2020 [145]. - Net revenue for the U.S. segment decreased by approximately $3.9 million, or 53%, to approximately $3.4 million for the three months ended June 30, 2020, compared to approximately $7.3 million for the same period in 2019 [172]. - Net revenue decreased by approximately $3.6 million, or 26%, to approximately $10.5 million for the six months ended June 30, 2020, compared to approximately $14.1 million for the same period in 2019 [178]. - International segment net revenue increased by approximately $4.4 million, or 45%, to approximately $14.1 million for the six months ended June 30, 2020, compared to approximately $9.7 million for the same period in 2019 [189]. Profit and Loss - The company reported a net loss of $2.5 million for the three months ended June 30, 2020, compared to a net loss of $5.0 million for the same period in 2019 [142]. - Gross profit for the three months ended June 30, 2020, was $8.6 million, down from $9.7 million for the same period in 2019 [142]. - Gross profit decreased by approximately $1.1 million, or 11%, to approximately $8.6 million for the three months ended June 30, 2020, with a gross margin of 85% compared to 89% for the same period in 2019 [150]. - Gross profit for the U.S. segment decreased to approximately $2.997 million for the three months ended June 30, 2020, compared to approximately $6.512 million for the same period in 2019 [172]. - Segment loss from operations for the U.S. segment increased to approximately $3.251 million for the three months ended June 30, 2020, compared to approximately $1.485 million for the same period in 2019 [172]. Expenses - The company recognized approximately $401,000 and $982,000 of royalty expense for the three and six months ended June 30, 2020, respectively, compared to approximately $434,000 and $950,000 for the same periods in 2019 [136]. - Cost of goods sold, excluding depreciation and amortization, increased by approximately $300,000, or 25%, to approximately $1.5 million for the three months ended June 30, 2020, compared to approximately $1.2 million for the same period in 2019 [147]. - Research, development and medical affairs expenses decreased by approximately $1.0 million, or 36%, to approximately $1.8 million for the three months ended June 30, 2020, compared to approximately $2.8 million for the same period in 2019 [153]. - General and administrative expenses decreased by approximately $700,000, or 19%, to approximately $3.0 million for the three months ended June 30, 2020, compared to approximately $3.7 million for the same period in 2019 [156]. - Sales and marketing expenses decreased by approximately $1.7 million, or 28%, to approximately $4.4 million for the three months ended June 30, 2020, compared to approximately $6.1 million for the same period in 2019 [160]. - Total operating expenses decreased by approximately $3.4 million, or 26%, to approximately $9.9 million for the three months ended June 30, 2020, compared to approximately $13.3 million for the same period in 2019 [162]. - Cost of goods sold decreased by approximately $300,000, or 20%, to approximately $1.2 million for the six months ended June 30, 2020, compared to approximately $1.5 million for the same period in 2019 [179]. - Research, development and medical affairs expenses decreased by approximately $100,000, or 3%, to approximately $3.0 million for the six months ended June 30, 2020, compared to approximately $3.1 million for the same period in 2019 [180]. - General and administrative expenses decreased by approximately $200,000, or 5%, to approximately $3.9 million for the six months ended June 30, 2020, compared to approximately $4.1 million for the same period in 2019 [181]. - Sales and marketing expenses decreased by approximately $800,000, or 10%, to approximately $7.5 million for the six months ended June 30, 2020, compared to approximately $8.3 million for the same period in 2019 [182]. - Operating expenses in the Other segment decreased by approximately $500,000, or 33%, to $1.0 million for the three months ended June 30, 2020, compared to approximately $1.5 million for the same period in 2019 [196]. Cash Flow and Financing - As of June 30, 2020, the company had approximately $13.5 million in cash and cash equivalents, an increase of $1.3 million from $12.2 million as of March 31, 2020 [209]. - For the six months ended June 30, 2020, cash provided by operations was approximately $220,000, despite a net loss of $3.7 million [213]. - The company received approximately $1.8 million from the Paycheck Protection Program, which is subject to forgiveness if used for eligible expenses [207]. - The company borrowed $2.5 million under the 2019 Solar Loan Agreement, contributing to net cash provided by financing activities of approximately $4.0 million for the six months ended June 30, 2020 [216]. - The company experienced a $2.8 million net decrease in accounts payable, accrued expenses, and other current liabilities for the six months ended June 30, 2020 [213]. - The company expects to use the remaining proceeds from the 2019 Solar Loan for additional working capital for general corporate purposes [205]. - The company has adjusted its commercial spending in response to the COVID-19 pandemic to operate with existing cash resources [209]. - The company reported a net cash used in investing activities of approximately $220,000 for the six months ended June 30, 2020, primarily due to the purchase of property and equipment [215]. - The company has a new minimum liquidity requirement of $8.5 million plus accounts payable not paid within 90 days, effective May 1, 2020 [206]. - The company cannot ensure that its commercial spending controls will be effective throughout the duration of the pandemic, raising concerns about its ability to continue as a going concern [212]. Strategic Initiatives - The company maintained staffing levels during the pandemic to support customers and patients, despite the adverse effects on revenue [134]. - The company has implemented cost management measures to mitigate anticipated revenue loss due to the pandemic [134]. - The company has received marketing authorization for ILUVIEN in 16 European countries for the treatment of diabetic macular edema and has obtained reimbursement approval in Germany and the U.K. [125]. - The company markets ILUVIEN directly in the U.S., Germany, the U.K., Portugal, Austria, and Ireland, and has agreements with distributors in several other countries [126]. - The company expects to incur approximately $13.5 million in expenses over the next three to four years associated with the NEW DAY Study [200]. - The company anticipates approximately $400,000 of capital expenditures associated with a new manufacturing facility through February 2021 [201]. - The company has incurred a deficit in stockholders' equity of $391.3 million through June 30, 2020 [197].
Alimera Sciences(ALIM) - 2020 Q2 - Earnings Call Transcript
2020-08-02 11:28
Alimera Sciences, Inc. (NASDAQ:ALIM) Q2 2020 Earnings Conference Call July 30, 2020 9:00 AM ET Company Participants Scott Gordon - President, CORE IR Rick Eiswirth - President and CEO Phil Jones - CFO Conference Call Participants Alex Nowak - Craig-Hallum Capital Group James Molloy - Alliance Global Partners Yi Chen - HC Wainwright Operator Ladies and gentlemen, thank you for standing by. Good morning and welcome to the Alimera Sciences Second Quarter 2020 Financial Results and Corporate Update Conference C ...
Alimera Sciences(ALIM) - 2020 Q1 - Quarterly Report
2020-05-06 21:08
Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value per share ALIM The Nasdaq Stock Market LLC (Nasdaq Global Market) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 or oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1 ...
Alimera Sciences(ALIM) - 2020 Q1 - Earnings Call Transcript
2020-05-03 11:38
Start Time: 09:00 January 1, 0000 9:40 AM ET Alimera Sciences, Inc. (NASDAQ:ALIM) Q1 2020 Earnings Conference Call April 30, 2020, 09:00 AM ET Company Participants Rick Eiswirth - President and CEO Phil Jones - CFO Jules Abraham - CORE IR Conference Call Participants Andrew D’Silva - B. Riley FBR James Molloy - Alliance Global Partners Will Fafinski - Craig-Hallum Capital Group Yi Chen - H.C. Wainwright Operator Ladies and gentlemen, thank you for standing by. Good morning and welcome to the Alimera Science ...
Alimera Sciences(ALIM) - 2019 Q4 - Annual Report
2020-03-02 21:07
Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 or ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-34703 | --- | --- | |----------------------------------------------------------------------------|---------------- ...
Alimera Sciences(ALIM) - 2019 Q4 - Earnings Call Transcript
2020-02-27 21:30
Alimera Sciences, Inc. (NASDAQ:ALIM) Q4 2019 Earnings Conference Call February 27, 2020 9:00 AM ET Company Participants Jules Abraham - CORE IR Rick Eiswirth - President & Chief Executive Officer Phil Jones - Chief Financial Officer Conference Call Participants Andrew D'Silva - B. Riley FBR Alex Nowak - Craig-Hallum Capital Group James Molloy - Alliance Global Partners Yi Chen - H.C. Wainwright Operator Good morning, and welcome to the Alimera Sciences Fourth Quarter and Full Year 2019 Financial Results and ...
Alimera Sciences(ALIM) - 2019 Q3 - Quarterly Report
2019-11-05 21:39
Table of Contents Title of each class Trading Symbol(s) Name of each exchange on which registered Common Stock, $0.01 par value per share ALIM The Nasdaq Stock Market LLC (Nasdaq Global Market) UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 or oTRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT ...
Alimera Sciences(ALIM) - 2019 Q3 - Earnings Call Transcript
2019-10-30 18:09
Alimera Sciences, Inc. (NASDAQ:ALIM) Q3 2019 Earnings Conference Call October 30, 2019 9:00 AM ET Company Participants Jules Abraham - Director, Public Relations, Core IR Richard Eiswirth - President, CEO & Director Philip Jones - CFO Conference Call Participants Andrew D'Silva - B. Riley FBR, Inc. Alexander Nowak - Craig-Hallum Capital Group James Molloy - Alliance Global Partners Yi Chen - H.C. Wainwright & Co Operator Ladies and gentlemen, thank you for standing by. Good morning, and welcome to the Alime ...