Alimera Sciences Announces First Quarter 2019 Financial Results and Provides Corporate Overview
First Quarter and Recent Company Highlights:
Global revenue up 34% versus Q1 2018
Regulatory approval obtained for ILUVIEN® in 17 EU countries for the treatment of Non-Infectious Posterior Uveitis
Samer Kaba, M.D. appointed to new position of Chief Medical Officer
National pricing and reimbursement obtained for ILUVIEN in France, triggering launch
ATLANTA (April 29, 2019) – Alimera Sciences, Inc. (NASDAQ: ALIM) (Alimera), a leader in the commercialization and development of prescription ophthalmic pharmaceuticals, announces financial results for the three months ended March 31, 2019. The company will conduct a conference call on Tuesday, April 30, 2019 at 9:00 AM ET to review these financial results and provide an update on corporate developments.
“We are pleased to have delivered strong financial performance in the first quarter of this year, as ILUVIEN continues to gain traction in both the U.S. and international markets,” said Rick Eiswirth, President and CEO of Alimera. “In addition to delivering 34% revenue growth in the quarter compared to Q1 of 2018, we received regulatory approval for a new indication in non-infectious posterior uveitis in major countries in the EU through the mutual recognition process, and our partner in France received pricing and reimbursement approval of ILUVIEN for the treatment of DME. We believe this quarter represents an inflection point for the Company, with the expansion of ILUVIEN’s label, Dr. Kaba joining us as our first Chief Medical Officer, and our growing presence into the large European intravitreal steroid markets of Spain and France.”
First Quarter 2019 Financial Results
Consolidated net revenue grew 34% to $12.9 million, compared to $9.6 million during the first quarter of 2018. U.S. net revenue was approximately $6.8 million during the first quarters of both 2019 and 2018. However, end user demand, which represents units purchased by physicians and pharmacies from the Company’s distributors, increased 10% in the first quarter of 2019 to 939 units, compared to 851 units in the first quarter of 2018.
The discrepancy between GAAP revenue and end user demand is due to the timing of distributor purchases in Q1 2019. During the first quarter of 2019, Alimera's distributors purchased
The following information was filed by Alimera Sciences Inc (ALIM) on Tuesday, April 30, 2019 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.
View differences made from one quarter to another to evaluate Alimera Sciences Inc's financial trajectory
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Ticker: ALIM CIK: 1267602 Form Type:10-Q Quarterly Report Accession Number: 0001267602-19-000075 Submitted to the SEC: Tue May 07 2019 12:42:12 PM EST Accepted by the SEC: Tue May 07 2019 Period: Sunday, March 31, 2019 Industry: Pharmaceutical Preparations