Alimera Sciences Reports Fourth Quarter and Full Year 2014 Financial Results
Full Year 2014 Net Revenue up 342% Through Sales of ILUVIEN® in Germany and the United Kingdom
Commenced U.S. Commercial Launch of ILUVIEN in the First Quarter of 2015
Alimera Will Host a Conference Call at 4:30 PM ET Today
ATLANTA, March 4, 2015 /PRNewswire/ -- Alimera Sciences, Inc. (NASDAQ: ALIM) (Alimera), a pharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals, today announced financial results for the fourth quarter and year ended December 31, 2014.
“This past year was a pivotal year for Alimera Sciences, most notably having received U.S. FDA approval of ILUVIEN in September for the treatment of diabetic macular edema,” said Dan Myers, president and chief executive officer of Alimera Sciences. “With the FDA approval process behind us, we have put a strong commercial infrastructure in place to position us to capture market share of the estimated 575,000 clinically significant DME patients in the U.S. in 2015. We have trained and motivated our team of sales managers and representatives, medical liaisons and field and payer reimbursement specialists to educate physicians and patients on the benefits of ILUVIEN. As of December 31, 2014, our U.S. commercial organization included a team of 21, with an additional 32 joining us in the first quarter of 2015.”
“In the fourth quarter of 2014, we experienced a decrease in sales in Europe in comparison to the prior quarter. The lower revenue was driven by holiday seasonality that reduced patient office visits, increasing reimbursement challenges in Germany, and the weakening of both the Euro and the British Pound against the U.S. Dollar,” continued Mr. Myers. “We did, however, strengthen our balance sheet with a $50 million financing from Deerfield Management. With this added capital, we believe we are well positioned to execute our ILUVIEN commercial launches in the U.S. and in Portugal in the first quarter of 2015 while continuing our marketing and commercialization efforts in the United Kingdom and Germany.”
Fourth Quarter and Full Year 2014 Financial Results
Net revenue increased by approximately $760,000, or 81%, to $1.7 million for the fourth quarter of 2014, compared to net revenue of $940,000 in the fourth quarter of 2013. For the year ended December 31, 2014, total net revenue increased by approximately $6.5 million, or 342%, to approximately $8.4 million,
The following information was filed by Alimera Sciences Inc (ALIM) on Wednesday, March 4, 2015 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.