Alimera Sciences Inc (ALIM) SEC Filing 10-Q Quarterly report for the period ending Tuesday, June 30, 2020

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Alimera Sciences Inc
Ticker: ALIM CIK: 1267602

Exhibit 99.1

FOR IMMEDIATE RELEASE

Alimera Sciences Announces Second Quarter 2020 Financial Results and Provides Corporate Update

Second Quarter and Recent Company Highlights:

Consolidated Net Revenue Down 8% Compared to Second Quarter 2019

International Net Revenue Up 89% Compared to Second Quarter 2019

Net Loss of $2.5 Million vs. $5.0 Million in Second Quarter 2019

Adjusted EBITDA Loss of $0.3 Million vs. $2.1 Million in Second Quarter 2019

ATLANTA (July 29, 2020) – Alimera Sciences, Inc. (NASDAQ: ALIM) (Alimera), a leader in the commercialization and development of prescription ophthalmology treatments for the management of retinal diseases, announces financial results for the three months ended June 30, 2020. Alimera will host a conference call on Thursday, July 30, 2020 at 9:00 AM ET to review these financial results and provide an update on corporate developments.

“The second quarter of 2020 was a successful quarter for Alimera Sciences in the context of the COVID-19 pandemic, having delivered $10 million in revenue, decreasing only 8% versus the second quarter of 2019, despite limited access to patients. We leveraged our geographic diversity and the late 2019 European launch of ILUVIEN for uveitis while managing our expenses. These results led to improvements in net loss and adjusted EBITDA compared to the second quarter of 2019,” said Rick Eiswirth, Alimera’s President and Chief Executive Officer. “As we move through the COVID-19 pandemic, we believe that physicians will see ILUVIEN in a new light. Having not made any changes to our staffing levels across the organization, we believe we are positioned to communicate how ILUVIEN provides significant long-term clinical benefits while reducing the number of visits for high-risk patients. ILUVIEN can also help doctors work through their backlog of patients who have been left untreated or undertreated during the pandemic.”

Second Quarter 2020 Financial Results

Net Revenue

Consolidated net revenue for Q2 2020 was down 8% to $10.0 million, compared to $10.9 million for Q2 2019.

The following information was filed by Alimera Sciences Inc (ALIM) on Thursday, July 30, 2020 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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