ATLANTA Alimera Sciences posted a second-quarter net loss of $4.8 million, or $0.20 per share, compared with a net loss of $8.1 million, or $5.46 per share, during the second quarter of 2009, the company announced in a press release.
The deficit includes a gain of $380,000 linked to a reduction in the estimated value for the conversion feature of the company’s preferred stock, compared with an expense of $1.1 million recorded during the same period last year, the release said.
Research and development expenses totaled $4.1 million for the second quarter, compared to $3.8 million reported during last year’s second quarter, according to the release.
In order to finalize the clinical development of its Iluvien intravitreal insert for treating diabetic macular edema, Alimera expects to tender research and development expenses of approximately $11.6 million for the full-year 2010 and $1.8 million for 2011.
This follows Alimera’s June submission of a new drug application to the U.S. Food and Drug Administration requesting a priority review of the device. If approved, Alimera will owe collaborative partner pSivida an additional milestone payment of $25 million.
Accordingly, Alimera expects marketing and selling expenses to spike as the company hires additional sales personnel to orchestrate the commercialization of Iluvien.
“Assuming a positive response from the FDA, we anticipate launching Iluvien as early as the first quarter of 2011,” Dan Myers, president and CEO of Alimera, said in the release.
As of June 30, Alimera had $60.2 million in cash, cash equivalents and investments.
Similar Posts:
- Hoya suspends sales of two clear-optic IOLs
- Inotek completes milestone for glaucoma eye drop candidate
- XOMA reports positive additional results for potential treatment for Behçet’s uveitis
- Superbug antibiotics: Research and pipeline
- Intravitreal implant authorized in Europe to treat noninfectious uveitis
