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Alimera Sciences (Nasdaq: ALIM) announced that data from its ILUVIEN studies will be presented during the annual ARVO conference in New Orleans from April 23-27, 2023. Four posters will highlight findings from the PALADIN study, which focused on the long-term outcomes in eyes requiring IOP lowering surgery after treatment with the 0.19 mg Fluocinolone Acetonide Implant for DME. The PALADIN study, a 36-month observational study involving 202 eyes across 41 sites, confirmed the benefits of corticosteroid use in preventing uncontrolled IOP elevation, while also showing improvement in vision and reduction in treatment burdens. Although ARVO is a significant event in ophthalmology, it does not endorse any products presented.
Alimera Sciences has expanded its partnership with Horus Pharma to market ILUVIEN more broadly in the Nordic countries: Denmark, Finland, Norway, and Sweden. This collaboration aims to enhance commercial efforts for treating conditions like diabetic macular edema (DME) and non-infectious uveitis. Rick Eiswirth, CEO of Alimera, expressed confidence in Horus's capabilities to leverage their expertise in these new markets. Horus's CEO, Claude Claret, noted the potential for long-acting therapies to benefit healthcare systems. ILUVIEN is already approved in several regions for various indications and offers sustained release therapy.
Alimera Sciences, Inc. (Nasdaq: ALIM) reported a 13% increase in 2022 product revenue to $54.1 million, driven by a 22% growth in global end user demand, totaling 9,266 units. The U.S. segment grew 23%, while the international segment rose 21%. However, international net revenue dropped 38% to $19.9 million due to unfavorable foreign exchange rates. Operating expenses increased 11% to $57.8 million as the company invested in growth post-pandemic. Alimera also repurchased Series A Preferred Stock, alleviating a $24 million liquidation preference, and amended a $45 million term loan to extend the interest-only period.