November 12, 2013
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Alimera reports net loss of $1.1 million for third quarter

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Alimera has reported a net loss of $1.1 million attributable to common shareholders for the third quarter of 2013, compared to a $5.4 million net loss reported in the third quarter of 2012, according to a company press release.

The net earnings for the third quarter of 2013 did, however, benefit from a decrease in the fair value of Alimera's derivative warrant liability, which resulted in non-cash income of approximately $6.2 million and a non-cash unrealized foreign currency gain of $508,000, the release said.

As of Sept. 30, 2013, Alimera had cash and cash equivalents of $23.1 million, compared to $49.6 million as of Dec. 31, 2012, according to the release.

Total revenue from Iluvien, comprised of sales in Germany and the U.K. in the third quarter of 2013, was $758,000, up 323% from last quarter’s posted revenue of $179,000.

In addition to its current activity in Germany and the United Kingdom, Alimera anticipates a commercial launch of Iluvien in France in 2014, the release said.

"During the third quarter, our commercial focus on Europe continued to grow as we increased revenue over 300% and expanded the number of physicians implanting Iluvien in their patients in Germany and the United Kingdom," Dan Myers, Alimera's president and CEO, said in the release.