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

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Alimera Sciences Inc
Ticker: ALIM CIK: 1267602

Exhibit 99.1

FOR IMMEDIATE RELEASE

Alimera Sciences Announces Third Quarter 2020 Financial Results

– Rebound Continues from COVID Challenges –

Third Quarter Highlights:

Consolidated Net Revenue of $12.5 Million Up 25% vs. Second Quarter 2020

U.S. Net Revenue of $7.0 Million Up 106% vs. Second Quarter 2020

Consolidated Net Revenue Down 3% vs. Third Quarter 2019

International Net Revenue Up 31% vs. Third Quarter 2019

Net Loss of ($0.6) Million vs. ($3.1) Million in Third Quarter 2019

Adjusted EBITDA of $1.4 Million vs. Negative $(0.5) Million Adjusted EBITDA in Third Quarter 2019

ATLANTA (October 28, 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 third quarter of 2020. Alimera will host a conference call on Thursday, October 29, 2020 at 9:00 AM ET to review these financial results and provide an update on corporate developments.

“Our strategy to retain our entire work force through the COVID-19 pandemic is paying off as we were able to drive a 25% sequential increase in global net revenue over the second quarter of 2020 and maintain sales through the first nine months of 2020 despite the challenges of the current environment,” said Rick Eiswirth, Alimera’s President and Chief Executive Officer. “Importantly, we are achieving our goal of delivering positive adjusted EBITDA, reporting $1.4 million for the third quarter and $2.4 million year to date.”

Mr. Eiswirth continued, “During this challenging year we are continuing to invest in ILUVIEN® and to expand geographically to fuel our significant international growth. In the third quarter we initiated the NEW DAY study, our landmark clinical trial that we believe has the potential to position ILUVIEN as the preferred first-line treatment for diabetic macular edema, and we entered into partnerships to make ILUVIEN available in six additional countries in the future.”

The following information was filed by Alimera Sciences Inc (ALIM) on Wednesday, October 28, 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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