Pharmaceutical

Alimera Sciences, Inc. (NASDAQ:ALIM) has announced its third quarter financial results for the period ending on September 30, 2015.

Alimera Sciences, Inc. (NASDAQ:ALIM) has announced its third quarter financial results for the period ending on September 30, 2015.
According to the press release:

“ILUVIEN® continued to see growing demand in the U.S. during the quarter which has enabled us to achieve significant overall sales growth of 188% from the same period of 2014,” said Dan Myers, Alimera president and chief executive officer. “As we had anticipated, the market opportunity in the U.S. is significant for Alimera, and we believe we are only seeing the beginning of what the Company will be able to accomplish. Importantly, a specific J-code for ILUVIEN has been posted and will be available on January 1, 2016.  This should streamline the reimbursement process for both our current and potential customers.  We anticipate that this will have a meaningful, positive impact on our sales in 2016.”
Consolidated net revenue increased by approximately $4.5 million, or 188%, to approximately $6.9 million for the three months ended September 30, 2015, compared to net revenue of approximately $2.4 million for the three months endedSeptember 30, 2014. This increase was primarily driven by the launch of ILUVIEN in the U.S. late in the first quarter of 2015.
Revenue in the U.S. increased 32% sequentially from approximately $3.8 million in the second quarter of 2015 to approximately $5.0 million in the third quarter of 2015 as a result of continued acceptance of ILUVIEN by U.S. retinal physicians.  Due to the launch of ILUVIEN late in the first quarter of 2015, there were no ILUVIEN sales in the U.S. in the third quarter 2014.
International revenue decreased by approximately $500,000, or 21%, to approximately $1.9 million for the three months ended September 30, 2015, compared to approximately $2.4 million for the three months ended September 30, 2014. The decrease was primarily attributable to decreases in the value of the British pound sterling and the Euro that impacted reported revenue by $290,000 and lower sales volume in Germany compared to the prior year.

Click here to read the full press release.


 

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