Exhibit 99.1
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Alimera Sciences Reports Third Quarter 2017 Financial Results
 
Net Revenue of $9.8 million for the third quarter of 2017 compared to $8.3 million for the third quarter of 2016, an 18% increase

GAAP Net Loss of $5.3 million for the third quarter of 2017 compared to $9.2 million for the third quarter of 2016, a decrease of 42%

Adjusted EBITDA Loss of $1.8 million for the third quarter of 2017 compared to $5.4 million for the third quarter of 2016, a decrease of 67%

Company to host conference call on Thursday, November 2, 2017 at 9:00 AM ET

ATLANTA, Nov. 01, 2017 (GLOBENEWSWIRE) -- Alimera Sciences, Inc. (NASDAQ: ALIM) (Alimera), a global pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharmaceuticals, today announced financial results for the three months ended September 30, 2017.
“We are pleased to announce an 18% increase in our quarterly net revenues compared to the third quarter of 2016. This increase was driven by growing end user demand for ILUVIEN, as evidenced by record sales in our international segment. We achieved this growth while at the same time reducing operating expenses by 17% and reducing our net loss by 42% in the third quarter of 2017 compared to the third quarter of 2016. We are announcing an adjusted EBITDA loss of $1.8 million in the third quarter of 2017, down from $5.4 million for the third quarter of 2016. We believe the U.S. real-world clinical evidence, recently presented from our USER Study, will allow us to improve the position of ILUVIEN in the marketplace,” said Dan Myers, Chief Executive Officer of Alimera. “The licensing of additional rights from pSivida positions us to pursue potential approval and commercialization of ILUVIEN for the treatment of uveitis in Europe in 2018. Finally, we expect to continue to drive revenue by communicating the new real-world evidence and expanding the reach of ILUVIEN to additional patients in 2018 through our distribution partnerships.”
Third Quarter 2017 Financial Results
Consolidated net revenue increased by approximately $1.5 million, or 18%, to approximately $9.8 million for the three months ended September 30, 2017, compared to net revenue of approximately $8.3 million for the three months ended September 30, 2016. The increase was primarily attributable to increased end user demand in the U.S. and in Europe, as well as the initial shipments of ILUVIEN to Alimera’s distribution partner in Italy.
U.S. net revenue increased by approximately $900,000, or 15%, to approximately $7.1 million for the three months ended September 30, 2017, compared to U.S. net revenue of approximately $6.2 million for the three months ended September 30, 2016. The increase was driven by increased end user demand for ILUVIEN in the U.S. in 2017.
International net revenue increased by approximately $500,000, or 24%, to approximately $2.6 million for the three months ended September 30, 2017, compared to approximately $2.1 million for the three months ended September 30, 2016. The increase was driven by increased sales of ILUVIEN in Germany as well as the initial shipments of ILUVIEN to Alimera’s distribution partner in Italy.
Consolidated gross profit increased by approximately $900,000, or 12%, to approximately $8.7 million for three months ended September 30, 2017, compared to approximately $7.8 million for the three months ended September 30, 2016. Gross margin was 89% and 94% for the three months ended September 30, 2017 and 2016, respectively. The decrease in gross margin for the three months ended September 30, 2017 was primarily a result of royalty payments payable to pSivida accrued in the third quarter of 2017, as a result of the restructuring of Alimera’s collaboration agreement with pSivida.


The following information was filed by Alimera Sciences Inc (ALIM) on Thursday, November 2, 2017 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-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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