Alimera Sciences (ALIM) 10-Q 4 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 03, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	ALIMERA SCIENCES INC
Entity Central Index Key	1,267,602
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		64,862,904

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($)	Sep. 30, 2016	Dec. 31, 2015
CURRENT ASSETS:
Cash and cash equivalents	$ 33,853,000	$ 31,075,000
Restricted cash	38,000	37,000
Accounts receivable, net	13,397,000	9,799,000
Prepaid expenses and other current assets	3,402,000	2,696,000
Inventory, net (Note 5)	913,000	1,552,000
Total current assets	51,603,000	45,159,000
Property and equipment, net	2,054,000	2,553,000
Intangible asset, net (Note 6)	21,093,000	22,549,000
Deferred tax asset, net	230,000	223,000
TOTAL ASSETS	74,980,000	70,484,000
CURRENT LIABILITIES:
Accounts payable	3,449,000	4,002,000
Accrued expenses (Note 7)	4,169,000	3,911,000
Note payable, net of discount (Note 9)	0	31,786,000
Capital lease obligations	235,000	234,000
Total current liabilities	7,853,000	39,933,000
NON-CURRENT LIABILITIES:
Derivative warrant liability	1,060,000	2,815,000
Note payable, net of discount — less current portion (Note 9)	33,425,000	0
Capital lease obligations — less current portion	401,000	582,000
Other non-current liabilities	2,209,000	834,000
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ EQUITY:
Preferred stock
Common stock, $.01 par value — 100,000,000 shares authorized, 64,710,724 shares issued and outstanding at September 30, 2016 and 45,005,833 shares issued and outstanding at December 31, 2015	647,000	450,000
Additional paid-in capital	329,467,000	299,376,000
Common stock warrants	3,338,000	2,747,000
Accumulated deficit	(371,146,000)	(343,900,000)
Accumulated other comprehensive loss	(1,069,000)	(1,148,000)
TOTAL STOCKHOLDERS’ EQUITY	30,032,000	26,320,000
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	74,980,000	70,484,000
Series A convertible preferred stock
STOCKHOLDERS’ EQUITY:
Preferred stock	19,227,000	19,227,000
Series B Convertible Preferred Stock
STOCKHOLDERS’ EQUITY:
Preferred stock	$ 49,568,000	$ 49,568,000

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	64,710,724	45,005,833
Common stock, shares outstanding	64,710,724	45,005,833
Series A Convertible Preferred Stock
Preferred stock, shares authorized	1,300,000	1,300,000
Preferred stock, shares issued	600,000	600,000
Preferred stock, shares outstanding	600,000	600,000
Preferred stock, liquidation preference	$ 24,000,000	$ 24,000,000
Series B Convertible Preferred Stock
Preferred stock, shares authorized	8,417	8,417
Preferred stock, shares issued	8,416.251	8,416.251
Preferred stock, shares outstanding	8,416.251	8,416.251
Preferred stock, liquidation preference	$ 50,750,000	$ 50,750,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Statement [Abstract]
NET REVENUE	$ 8,298	$ 6,901	$ 23,656	$ 16,615
COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION	(486)	(634)	(1,420)	(1,293)
GROSS PROFIT	7,812	6,267	22,236	15,322
RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES	3,261	4,078	9,486	11,222
GENERAL AND ADMINISTRATIVE EXPENSES	3,645	3,031	11,079	10,471
SALES AND MARKETING EXPENSES	7,452	6,949	22,071	21,003
DEPRECIATION AND AMORTIZATION	697	653	2,082	1,864
OPERATING EXPENSES	15,055	14,711	44,718	44,560
NET LOSS FROM OPERATIONS	(7,243)	(8,444)	(22,482)	(29,238)
INTEREST EXPENSE, NET AND OTHER	(1,330)	(1,317)	(3,842)	(3,590)
UNREALIZED FOREIGN CURRENCY LOSS, NET	(51)	(63)	(31)	(34)
CHANGE IN FAIR VALUE OF DERIVATIVE WARRANT LIABILITY	(588)	8,363	1,755	13,085
LOSS ON EARLY EXTINGUISHMENT OF DEBT	0	0	(2,564)	0
NET LOSS BEFORE TAXES	(9,212)	(1,461)	(27,164)	(19,777)
PROVISION FOR TAXES	(33)	(82)	(84)	(155)
NET LOSS APPLICABLE TO COMMON STOCKHOLDERS	$ (9,245)	$ (1,543)	$ (27,248)	$ (19,932)
NET LOSS PER SHARE APPLICABLE TO COMMON STOCKHOLDERS — Basic and diluted (in dollars per share)	$ (0.16)	$ (0.03)	$ (0.56)	$ (0.45)
WEIGHTED AVERAGE SHARES OUTSTANDING — Basic and diluted	56,103,534	44,436,224	48,759,381	44,393,831

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Loss - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
NET LOSS APPLICABLE TO COMMON STOCKHOLDERS	$ (9,245)	$ (1,543)	$ (27,248)	$ (19,932)
OTHER COMPREHENSIVE INCOME (LOSS)
Foreign currency translation adjustments	30	40	79	(248)
TOTAL OTHER COMPREHENSIVE INCOME (LOSS)	30	40	79	(248)
COMPREHENSIVE LOSS	$ (9,215)	$ (1,503)	$ (27,169)	$ (20,180)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (27,248)	$ (19,932)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	2,082	1,864
Inventory reserve	39	0
Unrealized foreign currency transaction loss	31	34
Loss on early extinguishment of debt	2,564	0
Amortization of debt discount	795	524
Stock-based compensation expense	3,753	3,702
Change in fair value of derivative warrant liability	(1,755)	(13,085)
Changes in assets and liabilities:
Accounts receivable	(3,564)	(8,455)
Prepaid expenses and other current assets	(514)	627
Inventory	612	(88)
Accounts payable	(2,101)	(1,447)
Accrued expenses and other current liabilities	1,256	(828)
Other non-current liabilities	1,354	612
Net cash used in operating activities	(22,696)	(36,472)
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(122)	(370)
Net cash used in investing activities	(122)	(370)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from exercise of stock options	157	278
Proceeds from sale of common stock	27,547	42
Payment of issuance cost of common stock	(1,227)	0
Payment of Series B Convertible Preferred Stock offering costs	0	(327)
Payment of debt costs	(715)	0
Payment of capital lease obligations	(178)	(207)
Net cash provided by (used in) financing activities	25,584	(214)
EFFECT OF EXCHANGE RATES ON CASH AND CASH EQUIVALENTS	12	(301)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS	2,778	(37,357)
CASH AND CASH EQUIVALENTS — Beginning of period	31,075	76,697
CASH AND CASH EQUIVALENTS — End of period	33,853	39,340
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest	2,977	2,904
Cash paid for income taxes	299	9
Supplemental schedule of non-cash investing and financing activities:
Property and equipment acquired under capital leases	76	997
Common stock issuance costs accrued but unpaid	114	0
Note payable end of term payment accrued but unpaid	$ 1,400	$ 0

Consolidated Statements of Cas7

Consolidated Statements of Cash Flows (Parenthetical) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement of Cash Flows [Abstract]
Dividend payments	$ 0	$ 0

Nature of Operations

Nature of Operations	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations	NATURE OF OPERATIONS Alimera Sciences, Inc., and its subsidiaries (the Company), is a pharmaceutical company that specializes in the research, development and commercialization of prescription ophthalmic pharmaceuticals. Alimera Sciences, Inc. was formed on June 4, 2003 under the laws of the State of Delaware. The Company is presently focused on diseases affecting the back of the eye, or retina, because the Company’s management believes these diseases are not well treated with current therapies and represent a significant market opportunity. The Company’s only commercial product is ILUVIEN ® , which has received marketing authorization in the United States (U.S.), Austria, Belgium, the Czech Republic, Denmark, Finland, France, Germany, Ireland, Italy, Luxembourg, the Netherlands, Norway, Poland, Portugal, Spain, Sweden and the United Kingdom. In the U.S., ILUVIEN is indicated for the treatment of diabetic macular edema (DME) in patients who have been previously treated with a course of corticosteroids and did not have a clinically significant rise in intraocular pressure (IOP). In the European Economic Area (EEA) countries in which ILUVIEN has received marketing authorization, it is indicated for the treatment of vision impairment associated with DME considered insufficiently responsive to available therapies. As part of the approval process in the EEA, the Company has committed to conduct a five -year, post-authorization, open label registry study in 800 patients treated with ILUVIEN per the labeled indication. Through September 30, 2016, over 430 patients have been enrolled. The Company launched ILUVIEN in Germany and the United Kingdom in the second quarter of 2013 and in the U.S. and Portugal in the first quarter of 2015. In addition, the Company has entered into various agreements under which distributors will provide regulatory, reimbursement or sales and marketing support for future commercialization of ILUVIEN in numerous countries in the Middle East, Canada, Italy, Australia and New Zealand. In the third quarter of 2016, the Company's Middle East distributor initiated named patient sales of ILUVIEN in the Middle East.

Basis of Presentation

Basis of Presentation	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	BASIS OF PRESENTATION The Company has prepared the accompanying unaudited interim condensed consolidated financial statements and notes thereto (Interim Financial Statements) in accordance with accounting principles generally accepted in the U.S. (U.S. GAAP) for interim financial information and the instructions to Form 10-Q and Article 10-01 of Regulation S-X of the Securities and Exchange Commission (SEC). Accordingly, they do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of the Company’s management, the accompanying Interim Financial Statements reflect all adjustments, which include normal recurring adjustments, necessary to present fairly the Company’s interim financial information. The accompanying Interim Financial Statements and related notes should be read in conjunction with the Company’s audited financial statements for the year ended December 31, 2015 and related notes included in the Company’s Annual Report on Form 10-K, which was filed with the SEC on March 15, 2016. The financial results for any interim period are not necessarily indicative of the expected financial results for the full year.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The accounting policies followed for quarterly financial reporting are the same as those disclosed in the Notes to Financial Statements included in the Company’s Annual Report on Form 10-K filed with the SEC for the year ended December 31, 2015. Allowance for Doubtful Accounts on Accounts Receivable Allowance for doubtful accounts on accounts receivable were $26,000 and $118,000 as of September 30, 2016 and December 31, 2015, respectively. Research and Development Expenses Research and development expenses were $1,567,000 and $940,000 for the three months ended September 30, 2016 and 2015, respectively. Research and development expenses were $4,438,000 and $1,958,000 for the nine months ended September 30, 2016 and 2015, respectively. Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies that are adopted by us as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption. In May 2014, the FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU 2014-09 provides a single, comprehensive revenue recognition model for all contracts with customers. The revenue guidance contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The standard is effective for the first interim period within annual reporting periods beginning after December 15, 2017 for public entities, with early adoption permitted in the annual reporting period beginning after December 15, 2016. The Company is continuing to evaluate the new guidance and plans to provide additional information about its expected financial impact at a future date. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements-Going Concern . ASU 2014-15 provides guidance around management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. The new standard is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The Company does not expect the potential impact of adopting this guidance to have a material impact on its financial statements. In July 2015, FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. This update requires entities to measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. This ASU is effective for annual reporting periods beginning after December 15, 2016 and interim periods within those years. The Company does not expect the impact of the adoption to have a material effect on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) . This standard requires all leases with durations greater than twelve months to be recognized on the balance sheet and is effective for interim and annual reporting periods beginning after December 15, 2018, although early adoption is permitted. The Company is currently in the process of evaluating the impact of the adoption on its financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718) . This standard makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. ASU 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based awards. The standard is effective for interim and annual reporting periods beginning after December 15, 2016, although early adoption is permitted. The Company does not expect the impact of the adoption to have a material effect on its financial statements.

Factors Affecting Operations

Factors Affecting Operations	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Factors Affecting Operations	FACTORS AFFECTING OPERATIONS To date, the Company has incurred negative cash flow from operations and has accumulated a deficit of $371,146,000 from inception through September 30, 2016 . As of September 30, 2016 , the Company had approximately $33,853,000 in cash and cash equivalents. Subsequent to September 30, 2016, the Company entered into the Fourth Loan Amendment (as defined below) with Hercules Capital, Inc. (Hercules) in order to modify certain terms of the Term Loan Agreement (as defined below) and obtain additional loan amounts (see Note 9 Loan Agreements). If there is an event of default, all amounts may become due under the Term Loan Agreement and there would be substantial doubt about the Company's ability to continue as a going concern. Further, due to the limited revenue generated by ILUVIEN to date, the Company may need to raise additional capital to fund the continued commercialization of ILUVIEN. If the Company were unable to raise additional financing, the Company would need to adjust its commercial plans so that it could continue to operate with its existing cash resources. The actual amount of funds that the Company would need would be determined by many factors, some of which may be beyond its control. The accompanying Interim Financial Statements have been prepared assuming the Company will continue as a going concern. However, the Company’s negative cash flow from operations and accumulated deficit raise substantial doubt about its ability to continue as a going concern. The Interim Financial Statements do not include any adjustments that might result from the outcome of this uncertainty.

Inventory

Inventory	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Inventory	INVENTORY Inventory consisted of the following: September 30, 2016 December 31, 2015 (In thousands) Component parts (1) $ 172 $ 131 Work-in-process (2) 214 333 Finished goods 566 1,525 Total inventory 952 1,989 Inventory reserve (39 ) (437 ) Inventory — net $ 913 $ 1,552 (1) Component parts inventory consists of manufactured components of the ILUVIEN applicator. (2) Work-in-process primarily consists of completed units of ILUVIEN that are undergoing, but have not completed, quality assurance testing as required by regulatory authorities in Europe.

Intangible Asset

Intangible Asset	9 Months Ended
	Sep. 30, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Intangible Asset	INTANGIBLE ASSET As a result of the U.S. Food and Drug Administration’s (FDA) approval of the New Drug Application (NDA) for ILUVIEN in September 2014, the Company was required to pay pSivida US, Inc. (pSivida) a milestone payment of $25,000,000 (the pSivida Milestone Payment) in October 2014 (see Note 8 License Agreements). The Company had no intangible assets prior to September 2014. The gross carrying amount of the intangible asset is $25,000,000 , which is being amortized over approximately 13 years from the acquisition date. The amortization expense related to the intangible asset was $489,000 for both the three months ended September 30, 2016 and 2015. The amortization expense related to the intangible asset was $1,457,000 and $1,451,000 for the nine months ended September 30, 2016 and 2015, respectively. The net book value of the intangible asset was $21,093,000 and $22,549,000 as of September 30, 2016 and December 31, 2015, respectively. The estimated future amortization expense as of September 30, 2016 for the remainder of 2016, the next four years and thereafter is as follows (in thousands): Years Ending December 31 2016 $ 489 2017 1,940 2018 1,940 2019 1,940 2020 1,940 Thereafter 12,844 Total $ 21,093

Accrued Expenses

Accrued Expenses	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Accrued Expenses	ACCRUED EXPENSES Accrued expenses consisted of the following: September 30, 2016 December 31, 2015 (In thousands) Accrued compensation expenses $ 1,561 $ 804 Accrued clinical investigator expenses 1,092 732 Accrued rebate and other revenue reserves 724 452 Accrued End of Term Payment (Note 9) — 1,050 Other accrued expenses 792 873 Total accrued expenses $ 4,169 $ 3,911

License Agreements

License Agreements	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
License Agreements	LICENSE AGREEMENTS The Company entered into an agreement with pSivida for the use of fluocinolone acetonide (FAc) in pSivida’s proprietary delivery device in February 2005, which was subsequently amended in 2008 (the pSivida Agreement). The pSivida Agreement provides the Company with a worldwide exclusive license to utilize certain underlying technology used in the development and commercialization of ILUVIEN. The Company’s license rights to pSivida’s proprietary delivery device could revert to pSivida if the Company were to (i) fail twice to cure its breach of an obligation to make certain payments to pSivida following receipt of written notice thereof; (ii) fail to cure other breaches of material terms of the pSivida Agreement within 30 days after notice of such breaches or such longer period (up to 90 days ) as may be reasonably necessary if the breach cannot be cured within such 30 -day period; (iii) file for protection under the bankruptcy laws, make an assignment for the benefit of creditors, appoint or suffer appointment of a receiver or trustee over its property, file a petition under any bankruptcy or insolvency act or have any such petition filed against it and such proceeding remains undismissed or unstayed for a period of more than 60 days ; or (iv) notify pSivida in writing of its decision to abandon its license with respect to a certain product using pSivida’s proprietary delivery device. As a result of the FDA’s approval of the NDA for ILUVIEN in September 2014, the Company made the pSivida Milestone Payment of $25,000,000 in October 2014. The Company must share 20% of the Company's net profits of ILUVIEN, determined on a cash basis, in each country where the Company sells ILUVIEN directly or through its distributors or sub-distributors and 33% of any lump sum milestone payments received from a sub-licensee of ILUVIEN, as defined by the pSivida Agreement. In connection with this arrangement, the Company is entitled to recover 20% of commercialization costs of ILUVIEN incurred prior to product profitability out of pSivida’s share of net profits, as defined in the pSivida Agreement. As of September 30, 2016 and December 31, 2015 , the Company was owed approximately $25,239,000 and $21,565,000 , respectively, in commercialization costs. Due to the uncertainty of future net profits, the Company has fully reserved these amounts in the accompanying Interim Financial Statements. In the second quarter of 2016, pSivida disputed portions of the Company's claimed commercialization costs for the year ended December 31, 2014. As part of this dispute, pSivida notified the Company that it disagreed with $1,290,000 of the $12,956,000 in commercialization costs receivable that the Company had reported as of December 31, 2014 and claimed incremental profit sharing payments of $136,000 for the year ended December 31, 2014. The Company is disputing pSivida’s assertions using the alternative dispute resolution mechanism under the pSivida Agreement. If pSivida’s assertions were to prevail in the alternative dispute resolution mechanism and their assertions were then applied to the commercialization cost calculations for the year ended December 31, 2015 and the nine months ended September 30, 2016, then the Company believes the commercialization costs receivable from pSivida would be reduced from $21,565,000 to $18,504,000 at December 31, 2015 and from $25,239,000 to $20,931,000 at September 30, 2016. If pSivida’s assertions were to prevail in the alternative dispute resolution mechanism, the impact on the statements of operations for the year ended December 31, 2015 and the nine months ended September 30, 2016 would be immaterial.

Loan Agreements

Loan Agreements	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Loan Agreements	LOAN AGREEMENTS Hercules Loan Agreement 2014 Loan Agreement In April 2014, Alimera Sciences Limited (Limited), a subsidiary of the Company, entered into a loan and security agreement (2014 Loan Agreement) with Hercules Capital, Inc. (Hercules) providing for a term loan of up to $35,000,000 (2014 Term Loan), which Limited and Hercules amended in November 2015 (the First Loan Amendment), March 2016 (the Second Loan Amendment), May 2016 (the Third Loan Amendment) and October 2016 (the Fourth Loan Amendment and, collectively with the 2014 Loan Agreement, the First Loan Amendment, the Second Loan Amendment and the Third Loan Amendment, the Term Loan Agreement). Under the 2014 Loan Agreement, Hercules made an advance in the initial principal amount of $10,000,000 to Limited at closing to provide Limited with additional working capital for general corporate purposes and to repay a 2013 term loan with Silicon Valley Bank. Hercules made an additional advance of $25,000,000 to Limited in September 2014, following the approval of ILUVIEN by the FDA to fund the pSivida Milestone Payment. The 2014 Loan Agreement provided for interest only payments through November 2015. Interest on the 2014 Term Loan accrued at a floating per annum rate equal to the greater of (i) 10.90% , or (ii) the sum of (A) 7.65% , plus (B) the prime rate. Following the interest only period the 2014 Term Loan was due and payable to Hercules in equal monthly payments of principal and interest through May 1, 2018. The interest rate on the Term Loan Agreement was 11.15% as of September 30, 2016. First Loan Amendment In November 2015, Limited and Hercules amended the 2014 Loan Agreement to extend the interest only payments through May 2017. In connection with the First Loan Amendment, Limited paid to Hercules an amendment fee of $262,500 and agreed to make an additional payment of $1,050,000 , equal to 3% of the 2014 Term Loan at the time of the final payment (End of Term Payment). Limited and the Company, on a consolidated basis with the Company’s other subsidiaries (the Consolidated Group), agreed to customary affirmative and negative covenants and events of default in connection with these arrangements. The occurrence of an event of default could result in the acceleration of Limited’s obligations under the Term Loan Agreement and an increase to the applicable interest rate and would permit Hercules to exercise remedies with respect to the collateral under the Term Loan Agreement. In connection with the First Loan Amendment, Limited agreed to covenants regarding certain revenue thresholds and a liquidity threshold. Second Loan Amendment In January 2016, the revenue threshold covenant was not met by the Consolidated Group and as a result, in March 2016, Limited and Hercules entered into the Second Loan Amendment, which further amended certain terms of the 2014 Loan Agreement. In conjunction with the Second Loan Amendment, Hercules waived this covenant violation. The Second Loan Amendment adjusted the revenue covenant to a rolling three-month calculation, first measured for the three months ended May 31, 2016. In addition, the Second Loan Amendment increased the liquidity covenant. Upon execution of the Second Loan Amendment, Limited paid Hercules an amendment fee of $350,000 and agreed to increase the End of Term Payment to $1,400,000 from $1,050,000 , which was payable on the date that the 2014 Term Loan was to be paid in full. The Company concluded that the Second Loan Amendment resulted in a substantial modification of the terms of debt when considered with the First Loan Amendment in accordance with the guidance in ASC 470-50, Debt . As a result, the Company accounted for the Second Loan Amendment as an extinguishment and recognized a loss on early extinguishment of debt of approximately $2,564,000 within the consolidated statement of operations for the nine months ended September 30, 2016. The loss on early extinguishment consisted primarily of the unamortized debt discount associated with the warrant and debt issuance costs incurred prior to the Second Loan Amendment, the incremental fair value of the warrant as a result of modifying the terms of the warrant and the debt issuance costs of $360,000 paid to Hercules for the Second Loan Amendment. Third Loan Amendment and July 2016 Waiver In May 2016, Limited and Hercules entered into the Third Loan Amendment to expand the definition of liquidity to allow for the inclusion of cash of up to $2,000,000 in bank accounts outside of the U.S. and the United Kingdom. In July 2016, Limited obtained a waiver of the requirements of the liquidity covenant (the Waiver) because the Consolidated Group was not in compliance with the liquidity covenant as of June 30, 2016. The Waiver cured the default of the liquidity covenant then existing under the Term Loan Agreement and decreased the liquidity requirement. In addition, the Waiver modified the three-month revenue covenant so that it was not measured at July 31, 2016 and reduced the three-month revenue target to be measured at August 31, 2016. Following execution of the Waiver, Limited incurred a weekly ticking fee equal to 0.05% multiplied by the outstanding principal amount through the closing of the Company’s public offering in August 2016 (see Note 12 Common Stock), totaling $65,000 . Further, Limited paid Hercules a fee of $350,000 associated with the Waiver. Fourth Loan Amendment In October 2016, Limited entered into the Fourth Loan Amendment with Hercules, which further amended certain terms of the Term Loan Agreement. Pursuant to the terms of the Fourth Loan Amendment, Hercules agreed to provide up to an additional $10,000,000 to Limited with (i) the first $5,000,000 available at Limited’s option through June 30, 2017 subject to (A) the Consolidated Group’s achievement of $12,000,000 in trailing three month net product revenue and (B) no event of default having occurred since October 20, 2016 (the Effective Date) and (ii) the second $5,000,000 available at Limited’s option through December 31, 2017 subject to (A) the Consolidated Group's achievement of $15,000,000 in trailing three month net product revenue, (B) no event of default having occurred since the Effective Date and (C) the prior $5,000,000 having been advanced to Limited (the Additional Advances and, together with the 2014 Term Loan, the Term Loan). The Fourth Loan Amendment provides for interest only payments through November 30, 2018 (the Interest-Only Period). Pursuant to the Fourth Loan Amendment, interest on the Term Loan accrues at a floating per annum rate equal the greater of (i) 11.0% and (ii) the sum of (A) 11.0% plus (B) the prime rate as reported in The Wall Street Journal, or if not reported, the prime rate most recently reported in The Wall Street Journal, minus 3.5% . In addition to the interest described above, the principal balance of the Term Loan will bear “payment-in kind” interest at the rate of 1.0% (PIK Interest), which PIK Interest will be added to the outstanding principal balance of the Term Loan so as to increase the outstanding principal balance of the Term Loan on each payment date for the Term Loan and which amount will be payable when the aggregate outstanding principal amount of the Term Loan is payable. The Term Loan will be due and payable to Hercules in 24 equal monthly payments of principal and interest following the Interest-Only Period beginning on December 1, 2018 and matures in full on November 1, 2020. Limited paid Hercules a facility charge of $337,500 and reimbursed Hercules for legal and diligence fees incurred in connection with the Fourth Loan Amendment. If Limited prepays the Term Loan, it will pay Hercules a prepayment penalty (i) if such amounts are prepaid in any of the first 12 months following the Effective Date, equal to 3.0% of the principal amount of the Term Loan being repaid, (ii) if such amounts are prepaid after 12 months but prior to 24 months following the Effective Date, equal to 2.0% of the principal amount of the Term Loan being repaid, and (iii) if such amounts are prepaid at any time thereafter, equal to 1.0% of the principal amount of the Term Loan being repaid. The Consolidated Group also agreed to customary affirmative and negative covenants, including, without limitation, covenants relating to minimum liquidity, minimum trailing six-month net revenue and adjusted EBITDA, and events of default in connection with these arrangements. The occurrence of an event of default could result in the acceleration of Limited’s obligations under the Term Loan Agreement, as amended by the Fourth Loan Amendment and an increase to the applicable interest rate, and would permit Hercules to exercise remedies with respect to the collateral under the Term Loan Agreement, as amended by the Fourth Loan Amendment. In the event that the Company maintains $35,000,000 in liquidity, including cash and eligible accounts receivable, at the end of the month and has not been and is not in breach of the amended debt facility, the six-month trailing revenue covenant is effectively waived for such month. General Discussion of the Term Loan Agreement Pursuant to the Term Loan Agreement, Limited’s obligations to Hercules are secured by a first-priority security interest in substantially all of Limited’s assets, excluding intellectual property. Hercules does, however, maintain a negative pledge on Limited’s intellectual property requiring Hercules’ consent prior to the sale of such intellectual property. The Company and certain of the Company’s other subsidiaries are guarantors of the obligations of Limited to Hercules under the Term Loan Agreement pursuant to separate guaranty agreements between Hercules and each of Limited and such subsidiaries (Guaranties). Pursuant to the Guaranties, the Company and these subsidiaries granted Hercules a first-priority security interest in substantially all of their respective assets excluding intellectual property. The Term Loan Agreement also places limitations on the Company’s ability to declare or pay any dividend or distribution on any shares of capital stock. 2014 Warrant In connection with Limited entering into the 2014 Loan Agreement, the Company issued a warrant to Hercules to purchase up to 285,016 shares of the Company’s common stock at an exercise price of $6.14 per share (the 2014 Warrant). Sixty percent of the 2014 Warrant was exercisable at the closing in April 2014 and the remaining forty percent became exercisable upon the funding of the additional $25,000,000 to Limited in September 2014. The Company agreed to amend the 2014 Warrant in connection with the First Loan Amendment to increase the number of shares issuable upon exercise to 660,377 and decrease the exercise price to $2.65 per share. Upon entering into the Second Loan Amendment, the Company agreed to further amend the 2014 Warrant to increase the number of shares issuable upon exercise to 862,069 and decrease the exercise price to $2.03 per share. In connection with the July 2016 Waiver, the Company agreed to further amend the 2014 Warrant to increase the number of shares issuable upon exercise to 1,258,993 and decrease the exercise price to $1.39 per share. 2016 Warrant In connection with Limited entering into the Fourth Loan Amendment, the Company agreed to issue a new warrant to Hercules (the 2016 Warrant) to purchase up to the number of shares of the Company’s common stock equal to $500,000 divided by the lowest volume-weighted average sale price for a share of the Company’s common stock reported over any ten consecutive trading days during the period commencing on and including September 23, 2016 and ending on the earlier to occur of (i) December 30, 2016 (inclusive of such date), and (ii) the second trading day immediately preceding the date of closing of a merger event (as defined in the 2016 Warrant). Fair Value of Debt The weighted average interest rates of the Company’s notes payable approximate the rate at which the Company could obtain alternative financing; therefore, the carrying amount of the notes approximated their fair value at September 30, 2016 and December 31, 2015.

Loss Per Share (EPS)

Loss Per Share (EPS)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Loss Per Share (EPS)	LOSS PER SHARE (EPS) Basic EPS is calculated in accordance with ASC 260, Earnings per Share , by dividing net income or loss attributable to common stockholders by the weighted average common stock outstanding. Diluted EPS is calculated in accordance with ASC 260 by adjusting weighted average common shares outstanding for the dilutive effect of common stock options, warrants and convertible preferred stock. In periods where a net loss is recorded, no effect is given to potentially dilutive securities, since the effect would be anti-dilutive. Common stock equivalent securities that would potentially dilute basic EPS in the future, but were not included in the computation of diluted EPS because to do so would have been anti-dilutive, were as follows: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Series A Convertible Preferred Stock 9,022,556 9,022,556 9,022,556 9,022,556 Series B Convertible Preferred Stock 8,416,251 8,416,251 8,416,251 8,416,251 Series A Convertible Preferred Stock warrants 4,511,279 4,511,279 4,511,279 4,511,279 Common stock warrants 1,336,947 362,970 1,336,947 362,970 Stock options 11,231,644 9,094,716 11,231,644 9,094,716 Total 34,518,677 31,407,772 34,518,677 31,407,772

Preferred Stock

Preferred Stock	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Preferred Stock	PREFERRED STOCK Series A Convertible Preferred Stock On October 2, 2012, the Company closed its preferred stock financing in which it sold units consisting of 1,000,000 shares of Series A Convertible Preferred Stock and warrants to purchase 300,000 shares of Series A Convertible Preferred Stock for gross proceeds of $40,000,000 , prior to the payment of approximately $560,000 of related issuance costs. The powers, preferences and rights of the Series A Convertible Preferred Stock are set forth in the certificate of designation filed by the Company with the Secretary of State of the State of Delaware on October 1, 2012. Each share of Series A Convertible Preferred Stock, including any shares of Series A Convertible Preferred Stock issued upon exercise of the warrants, is convertible into shares of the Company’s common stock at any time at the option of the holder at the rate equal to $40.00 divided by $2.66 (Conversion Price). The initial Conversion Price was subject to adjustment based on certain customary price based anti-dilution adjustments. These adjustment features lapsed in September 2014. Each share of Series A Convertible Preferred Stock shall automatically be converted into shares of common stock at the Conversion Price upon the occurrence of the later to occur of both (i) the Company receives and publicly announces the approval by the FDA of the Company’s NDA for ILUVIEN and (ii) the date on which the Company consummates an equity financing transaction pursuant to which the Company sells to one or more third party investors either (a) shares of common stock or (b) other equity securities that are convertible into shares of common stock and that have rights, preference or privileges, senior to or on a parity with, the Series A Convertible Preferred Stock, in each case having an as-converted per share of common stock price of not less than $10.00 and that results in total gross proceeds to the Company of at least $30,000,000 . The rights and preferences of Series A Convertible Preferred Stock also place limitations on the Company’s ability to declare or pay any dividend or distribution on any shares of capital stock. Each unit sold in the preferred stock financing included a warrant to purchase 0.30 shares of Series A Convertible Preferred Stock at an exercise price equal to $44.00 per share. At the election of the holder of a warrant, the warrant may be exercised for the number of shares of common stock then issuable upon conversion of the Series A Convertible Preferred Stock that would otherwise be issued upon such exercise at the then-effective Conversion Price. These warrants are considered derivative instruments because the agreements provide for settlement in Series A Convertible Preferred Stock shares or common stock shares at the option of the holder, an adjustment to the warrant exercise price for common shares at some point in the future and contain anti-dilution provisions whereby the number of shares for which the warrants are exercisable and/or the exercise price of the warrants are subject to change in the event of certain issuances of stock at prices below the then-effective exercise price of the warrants. Therefore, the warrants were recorded as a liability at issuance. The warrant anti-dilution provisions lapsed in September 2014. At September 30, 2016 and December 31, 2015 , the fair market value of the warrants was estimated to be $1,060,000 and $2,815,000 , respectively. During the three months ended September 30, 2016, the Company recorded a loss of $588,000 and during the three months ended September 30, 2015, the Company recorded a gain of $8,363,000 , as a result of the change in fair value of the warrants. During the nine months ended September 30, 2016 and 2015, the Company recorded gains of $1,755,000 and $13,085,000 , respectively, as a result of the change in fair value of the warrants. In April 2014, 2,255,639 shares of common stock were issued pursuant to the conversion of 150,000 shares of Series A Convertible Preferred Stock held by an investor. In September 2014, 3,759,398 shares of common stock were issued pursuant to the conversion of 250,000 shares of Series A Convertible Preferred Stock held by another investor. As of September 30, 2016, there were 600,000 shares of Series A Convertible Preferred Stock issued and outstanding. Series B Convertible Preferred Stock On December 12, 2014, the Company closed a preferred stock financing in which it sold 8,291.873 shares of Series B Convertible Preferred Stock for a purchase price of $6,030 per share, or an aggregate purchase price of $50,000,000 , prior to the payment of approximately $432,000 of related issuance costs. The Company issued an additional 124.378 shares of Series B Convertible Preferred Stock as a subscription premium to the purchasers. The powers, preferences and rights of the Series B Convertible Preferred Stock are set forth in the certificate of designation filed by the Company with the Secretary of State of the State of Delaware. Each share of Series B Convertible Preferred Stock is convertible into 1,000 shares of the Company’s common stock at any time at the option of the holder, provided that the holder will be prohibited from converting Series B Convertible Preferred Stock into shares of the Company’s common stock if, as a result of such conversion, the holder, together with its affiliates, would own more than 9.98% of the total number of shares of the Company’s common stock then issued and outstanding. The Series B Convertible Preferred Stock ranks junior to the Company’s existing Series A Convertible Preferred Stock and senior to the Company’s common stock, with respect to rights upon liquidation. The Series B Convertible Preferred Stock ranks junior to all existing and future indebtedness. Except as otherwise required by law (or with respect to approval of certain actions), the Series B Convertible Preferred Stock do not have voting rights. The Series B Preferred Stock is not redeemable at the option of the holder. The Series B Convertible Preferred Stock is not subject to any price-based or other anti-dilution protections and does not provide for any accruing dividends. The Company determined that the conversion option of the preferred shares represented a beneficial conversion feature, as the conversion feature had intrinsic value to the holder on the commitment date as a result of the subscription premium. Therefore, the Company recorded a beneficial conversion feature of $750,000 as an increase in additional paid in capital. Because the Series B Convertible Preferred Stock was immediately convertible into common stock at the option of the holder at issuance, the Company immediately accreted the full value of the beneficial conversion feature to the carrying value of the Series B Convertible Preferred Stock on that date.

Common Stock

Common Stock	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Common Stock	COMMON STOCK In September 2014, the Company entered into a sales agreement with Cowen and Company, LLC (Cowen) to offer shares of its common stock from time to time through Cowen up to an aggregate offering price of $35,000,000 . During the nine months ended September 30, 2016, the Company sold a total of 662,779 shares of its common stock at a weighted average purchase price of $1.83 per share, resulting in gross proceeds of $1,211,000 , prior to the payment of approximately $62,000 of underwriter discounts and commissions and related issuance costs. In addition, in August, 2016, pursuant to an underwriting agreement with Cowen, as representative of the several underwriters named therein, the Company closed a public offering in which it sold 18,900,000 shares of its common stock at a price to the public of $1.40 per share. The offering resulted in gross proceeds of $26,460,000 , prior to the payment of approximately $1,309,000 of underwriter discounts and commissions and related issuance costs. During the nine months ended September 30, 2016 and 2015, 41,413 and 10,993 shares of the Company’s common stock were acquired through its employee stock purchase plan resulting in proceeds of $78,000 and $42,000 , respectively.

Stock Incentive Plans

Stock Incentive Plans	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock Incentive Plans	STOCK INCENTIVE PLANS Stock Option Plans During the three months ended September 30, 2016 and 2015, the Company recorded compensation expense related to stock options of approximately $1,116,000 and $1,355,000 , respectively. During the nine months ended September 30, 2016 and 2015, the Company recorded compensation expense related to stock options of approximately $3,683,000 and $3,623,000 , respectively. As of September 30, 2016, the total unrecognized compensation cost related to non-vested stock options granted was $9,448,000 and is expected to be recognized over a weighted average period of 2.57 years . The following table presents a summary of stock option activity for the three and nine months ended September 30, 2016 and 2015: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options outstanding at beginning of period 10,648,702 $ 3.30 9,292,947 $ 3.49 9,475,890 $ 3.43 7,681,256 $ 3.03 Grants 749,250 1.53 69,000 4.39 2,169,750 2.06 1,902,500 5.38 Forfeitures (114,837 ) 4.03 (200,260 ) 5.25 (313,297 ) 3.44 (349,645 ) 4.84 Exercises (51,471 ) 1.33 (66,971 ) 2.09 (100,699 ) 1.56 (139,395 ) 1.99 Options outstanding at period end 11,231,644 3.18 9,094,716 3.47 11,231,644 3.18 9,094,716 3.47 Options exercisable at period end 7,116,615 3.26 5,510,064 3.19 7,116,615 3.26 5,510,064 3.19 Weighted average per share fair value of options granted during the period $ 1.17 $ 3.37 $ 1.56 $ 4.19 The following table provides additional information related to outstanding stock options, exercisable stock options and stock options expected to vest as of September 30, 2016 : Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In thousands) Outstanding 11,231,644 $ 3.18 6.69 years $ 71 Exercisable 7,116,615 3.26 5.46 years 70 Outstanding, vested and expected to vest 10,696,132 3.19 6.57 years 71 The following table provides additional information related to outstanding stock options, exercisable stock options and stock options expected to vest as of December 31, 2015 : Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In thousands) Outstanding 9,475,890 $ 3.43 6.96 years $ 2,565 Exercisable 5,808,528 3.27 5.87 years 2,186 Outstanding, vested and expected to vest 9,016,217 3.41 6.86 years 2,541 Employee Stock Purchase Plan During the three months ended September 30, 2016 and 2015, the Company recorded compensation expense related to its employee stock purchase plan of approximately $18,000 and $38,000 , respectively. During the nine months ended September 30, 2016 and 2015, the Company recorded compensation expense related to its employee stock purchase plan of approximately $69,000 and $79,000 , respectively.

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES In accordance with ASC 740, Income Taxes, the Company recognizes deferred tax assets and liabilities for temporary differences between the financial reporting basis and the tax basis of its assets and liabilities at the enacted tax rates in effect for the year in which the differences are expected to reverse. The Company records a valuation allowance against its net deferred tax asset to reduce the net carrying value to an amount that is more likely than not to be realized. At the end of each interim period, the Company makes its best estimate of the effective tax rate expected to be applicable for the full fiscal year. This estimate reflects, among other items, the Company’s best estimate of operating results and foreign currency exchange rates. The Company’s quarterly income tax rate may differ from its estimated annual effective tax rate because accounting standards require the Company to exclude the actual results of certain entities expected to generate a pretax loss when applying the estimated annual effective tax rate to the Company’s consolidated pretax results in interim periods. In estimating the annual effective tax rate, the Company does not include the estimated impact of unusual and/or infrequent items, including the reversal of valuation allowances, which may cause significant variations in the customary relationship between income tax expense (benefit) and pretax income (loss) in quarterly periods. The income tax expense (benefit) for such unusual and/or infrequent items is recorded in the quarterly period such items are incurred. The Company’s income tax expense and resulting effective tax rate are based upon the respective estimated annual effective tax rates applicable for the respective periods adjusted for the effects of items required to be treated as discrete to the period, including changes in tax laws, changes in estimated exposures for uncertain tax positions and other items. The Company’s effective tax rate for the three months ended September 30, 2016 properly excluded tax benefits associated with year-to-date pre-tax losses generated in the U.S. and the Netherlands. Income tax positions are considered for uncertainty in accordance with ASC 740-10. The Company believes that its income tax filing positions and deductions are more likely than not to be sustained on audit; therefore, no ASC 740-10 liabilities and no related penalties and interest have been recorded. The Company does not anticipate any material changes to its uncertain tax positions within the next 12 months. Tax years since 2003 remain subject to examination in Georgia, Tennessee and at the federal level. The time period is longer than the standard statutory 3-year period due to net operating losses (NOLs) from 2003 being available for utilization. The statute of limitations on these years will close when the NOLs expire or when the statute closes on the years in which the NOLs are utilized. Tax years since 2012 remain subject to examination in the United Kingdom and the Netherlands. Tax years since 2013 remain subject to examination in Germany. Significant management judgment is involved in determining the provision for income taxes, deferred tax assets and liabilities and any valuation allowance recorded against U.S. net deferred tax assets. Due to uncertainties with respect to the realization of U.S. deferred tax assets due to the history of operating losses, a valuation allowance has been established against the entire U.S. net deferred tax asset balance. The valuation allowance is based on management’s estimates of taxable income in the jurisdictions in which the Company operates and the period over which deferred tax assets will be recoverable. In the event that actual results differ from these estimates or the Company adjusts these estimates in future periods, a change in the valuation allowance may be needed, which could materially impact its financial position and results of operations. At December 31, 2015, the Company had federal NOL carry-forwards of approximately $100,835,000 and state NOL carry-forwards of approximately $78,762,000 available to reduce future income. The Company’s federal NOL carry-forwards remain fully reserved as of September 30, 2016. If not utilized, the federal NOL carry-forwards will expire at various dates between 2029 and 2035 and the state NOL carry-forwards will expire at various dates between 2020 and 2035. The Company’s NOL carry-forwards may be subject to annual limitations under Internal Revenue Code (IRC) Section 382 (or comparable provisions of state law) in the event that certain changes in ownership of the Company were to occur. The Company periodically evaluates its NOL carry-forwards and whether certain changes in ownership, including its August 2016 common stock issuance, have occurred that would limit its ability to utilize a portion of the Company’s NOL carry-forwards. Currently, a full valuation allowance has been recorded against the NOL deferred tax asset. As of December 31, 2015, the Company had cumulative book losses in foreign subsidiaries of $67,452,000 . The Company has not recorded a deferred tax asset for the excess of tax over book basis in the stock of its foreign subsidiaries. The Company anticipates that its foreign subsidiaries will be profitable and have earnings in the future. Once the foreign subsidiaries do have earnings, the Company intends to indefinitely reinvest in its foreign subsidiaries all undistributed earnings of and original investments in such subsidiaries. As a result, the Company has not recorded a deferred tax liability related to excess of book over tax basis in the stock of its foreign subsidiaries in accordance with ASC 740-30-25.

Fair Value

Fair Value	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value	FAIR VALUE The Company applies ASC 820, Fair Value Measurements , in determining the fair value of certain assets and liabilities. Under this standard, fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the “exit price”) in an orderly transaction between market participants at the measurement date. In determining fair value, the Company uses various valuation approaches. The hierarchy of those valuation approaches is broken down into three levels based on the reliability of inputs as follows: Level 1 inputs are quoted prices in active markets for identical assets or liabilities that the reporting entity has the ability to access at the measurement date. An active market for the asset or liability is a market in which transactions for the asset or liability occur with sufficient frequency and volume to provide pricing information on an ongoing basis. The valuation under this approach does not entail a significant degree of judgment. Level 2 inputs are inputs other than quoted prices included within Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include: quoted prices for similar assets or liabilities in active markets, inputs other than quoted prices that are observable for the asset or liability, (e.g., interest rates and yield curves observable at commonly quoted intervals or current market) and contractual prices for the underlying financial instrument, as well as other relevant economic measures. Level 3 inputs are unobservable inputs for the asset or liability. Unobservable inputs shall be used to measure fair value to the extent that observable inputs are not available, thereby allowing for situations in which there is little, if any, market activity for the asset or liability at the measurement date. There have been no changes in the methodologies used at September 30, 2016 and December 31, 2015. The following fair value table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis: September 30, 2016 Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents (1) $ — $ — $ — $ — Assets measured at fair value $ — $ — $ — $ — Liabilities: Derivative warrant liability (2) $ — $ 1,060 $ — $ 1,060 Liabilities measured at fair value $ — $ 1,060 $ — $ 1,060 December 31, 2015 Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents (1) $ 1,010 $ — $ — $ 1,010 Assets measured at fair value $ 1,010 $ — $ — $ 1,010 Liabilities: Derivative warrant liability (2) $ — $ 2,815 $ — $ 2,815 Liabilities measured at fair value $ — $ 2,815 $ — $ 2,815 (1) The carrying amounts approximate fair value due to the short-term maturities of the cash equivalents. (2) The Company uses the Black-Scholes option pricing model and assumptions that consider, among other variables, the fair value of the underlying stock, risk-free interest rate, volatility, expected life and dividend rates in estimating fair value for the warrants considered to be derivative instruments.

Segment Information

Segment Information	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION During the three months ended September 30, 2016 and 2015, two customers within the U.S. segment accounted for 75% and 73% , respectively, of the Company's consolidated revenues as a result of our sales to two pharmaceutical distributors in the U.S. During the nine months ended September 30, 2016 and 2015, these two customers within the U.S. segment accounted for 74% and 68% , respectively, of the Company's consolidated revenues. These two customers within the U.S. segment accounted for approximately 89% and 88% of the Company’s consolidated accounts receivable at September 30, 2016 and December 31, 2015, respectively. The following table presents a summary of the Company's reporting segments for the three months ended September 30, 2016 and 2015: Three Months Ended Three Months Ended U.S. International Consolidated U.S. International Consolidated (In thousands) NET REVENUE $ 6,184 $ 2,114 $ 8,298 $ 5,032 $ 1,869 $ 6,901 COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION (374 ) (112 ) (486 ) (245 ) (389 ) (634 ) GROSS PROFIT 5,810 2,002 7,812 4,787 1,480 6,267 RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES 2,204 1,057 3,261 2,320 1,758 4,078 GENERAL AND ADMINISTRATIVE EXPENSES 2,232 1,413 3,645 1,712 1,319 3,031 SALES AND MARKETING EXPENSES 5,618 1,834 7,452 4,546 2,403 6,949 DEPRECIATION AND AMORTIZATION 674 23 697 639 14 653 OPERATING EXPENSES 10,728 4,327 15,055 9,217 5,494 14,711 NET LOSS FROM OPERATIONS (4,918 ) (2,325 ) (7,243 ) (4,430 ) (4,014 ) (8,444 ) OTHER INCOME AND EXPENSES, NET (1,969 ) 6,983 NET LOSS BEFORE TAXES $ (9,212 ) $ (1,461 ) The following table presents a summary of the Company's reporting segments for the nine months ended September 30, 2016 and 2015: Nine Months Ended Nine Months Ended U.S. International Consolidated U.S. International Consolidated (In thousands) NET REVENUE $ 17,511 $ 6,145 $ 23,656 $ 11,279 $ 5,336 $ 16,615 COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION (964 ) (456 ) (1,420 ) (573 ) (720 ) (1,293 ) GROSS PROFIT 16,547 5,689 22,236 10,706 4,616 15,322 RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES 6,024 3,462 9,486 5,176 6,046 11,222 GENERAL AND ADMINISTRATIVE EXPENSES 6,569 4,510 11,079 6,080 4,391 10,471 SALES AND MARKETING EXPENSES 16,573 5,498 22,071 14,274 6,729 21,003 DEPRECIATION AND AMORTIZATION 2,015 67 2,082 1,819 45 1,864 OPERATING EXPENSES 31,181 13,537 44,718 27,349 17,211 44,560 NET LOSS FROM OPERATIONS (14,634 ) (7,848 ) (22,482 ) (16,643 ) (12,595 ) (29,238 ) OTHER INCOME AND EXPENSES, NET (4,682 ) 9,461 NET LOSS BEFORE TAXES $ (27,164 ) $ (19,777 )

Subsequent Event

Subsequent Event	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Event	SUBSEQUENT EVENT In October 2016, Limited and Hercules entered into the Fourth Loan Amendment (see Note 9 Loan Agreements). In connection with the Fourth Loan Amendment, the Company agreed to issue to Hercules the 2016 Warrant (see Note 9 Loan Agreements).

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	The Company has prepared the accompanying unaudited interim condensed consolidated financial statements and notes thereto (Interim Financial Statements) in accordance with accounting principles generally accepted in the U.S. (U.S. GAAP) for interim financial information and the instructions to Form 10-Q and Article 10-01 of Regulation S-X of the Securities and Exchange Commission (SEC). Accordingly, they do not include all of the information and disclosures required by U.S. GAAP for complete financial statements. In the opinion of the Company’s management, the accompanying Interim Financial Statements reflect all adjustments, which include normal recurring adjustments, necessary to present fairly the Company’s interim financial information.
Recent Accounting Pronouncements	Recent Accounting Pronouncements From time to time, new accounting pronouncements are issued by the Financial Accounting Standards Board (FASB) or other standard setting bodies that are adopted by us as of the specified effective date. Unless otherwise discussed, we believe that the impact of recently issued standards that are not yet effective will not have a material impact on our financial position or results of operations upon adoption. In May 2014, the FASB issued Accounting Standards Update (ASU) 2014-09, Revenue from Contracts with Customers (Topic 606) . ASU 2014-09 provides a single, comprehensive revenue recognition model for all contracts with customers. The revenue guidance contains principles that an entity will apply to determine the measurement of revenue and timing of when it is recognized. The underlying principle is that an entity will recognize revenue to depict the transfer of goods or services to customers at an amount that the entity expects to be entitled to in exchange for those goods or services. The standard is effective for the first interim period within annual reporting periods beginning after December 15, 2017 for public entities, with early adoption permitted in the annual reporting period beginning after December 15, 2016. The Company is continuing to evaluate the new guidance and plans to provide additional information about its expected financial impact at a future date. In August 2014, the FASB issued ASU 2014-15, Presentation of Financial Statements-Going Concern . ASU 2014-15 provides guidance around management’s responsibility to evaluate whether there is substantial doubt about an entity’s ability to continue as a going concern and to provide related footnote disclosures. For each reporting period, management will be required to evaluate whether there are conditions or events that raise substantial doubt about a company’s ability to continue as a going concern within one year from the date the financial statements are issued. The new standard is effective for fiscal years and interim periods within those fiscal years, beginning after December 15, 2016. Early adoption is permitted. The Company does not expect the potential impact of adopting this guidance to have a material impact on its financial statements. In July 2015, FASB issued ASU 2015-11, Inventory (Topic 330): Simplifying the Measurement of Inventory. This update requires entities to measure inventory at the lower of cost and net realizable value. Net realizable value is the estimated selling prices in the ordinary course of business, less reasonably predictable costs of completion, disposal and transportation. Subsequent measurement is unchanged for inventory measured using LIFO or the retail inventory method. This ASU is effective for annual reporting periods beginning after December 15, 2016 and interim periods within those years. The Company does not expect the impact of the adoption to have a material effect on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) . This standard requires all leases with durations greater than twelve months to be recognized on the balance sheet and is effective for interim and annual reporting periods beginning after December 15, 2018, although early adoption is permitted. The Company is currently in the process of evaluating the impact of the adoption on its financial statements. In March 2016, the FASB issued ASU No. 2016-09, Compensation—Stock Compensation (Topic 718) . This standard makes several modifications to Topic 718 related to the accounting for forfeitures, employer tax withholding on share-based compensation and the financial statement presentation of excess tax benefits or deficiencies. ASU 2016-09 also clarifies the statement of cash flows presentation for certain components of share-based awards. The standard is effective for interim and annual reporting periods beginning after December 15, 2016, although early adoption is permitted. The Company does not expect the impact of the adoption to have a material effect on its financial statements.

Inventory (Tables)

Inventory (Tables)	9 Months Ended
	Sep. 30, 2016
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following: September 30, 2016 December 31, 2015 (In thousands) Component parts (1) $ 172 $ 131 Work-in-process (2) 214 333 Finished goods 566 1,525 Total inventory 952 1,989 Inventory reserve (39 ) (437 ) Inventory — net $ 913 $ 1,552 (1) Component parts inventory consists of manufactured components of the ILUVIEN applicator. (2) Work-in-process primarily consists of completed units of ILUVIEN that are undergoing, but have not completed, quality assurance testing as required by regulatory authorities in Europe.

Intangible Asset (Tables)

Intangible Asset (Tables)	9 Months Ended
	Sep. 30, 2016
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The estimated future amortization expense as of September 30, 2016 for the remainder of 2016, the next four years and thereafter is as follows (in thousands): Years Ending December 31 2016 $ 489 2017 1,940 2018 1,940 2019 1,940 2020 1,940 Thereafter 12,844 Total $ 21,093

Accrued Expenses (Tables)

Accrued Expenses (Tables)	9 Months Ended
	Sep. 30, 2016
Payables and Accruals [Abstract]
Summary of Accrued Expenses	Accrued expenses consisted of the following: September 30, 2016 December 31, 2015 (In thousands) Accrued compensation expenses $ 1,561 $ 804 Accrued clinical investigator expenses 1,092 732 Accrued rebate and other revenue reserves 724 452 Accrued End of Term Payment (Note 9) — 1,050 Other accrued expenses 792 873 Total accrued expenses $ 4,169 $ 3,911

Loss Per Share (EPS) (Tables)

Loss Per Share (EPS) (Tables)	9 Months Ended
	Sep. 30, 2016
Earnings Per Share [Abstract]
Schedule of antidilutive securities excluded from computation of earnings per share	Common stock equivalent securities that would potentially dilute basic EPS in the future, but were not included in the computation of diluted EPS because to do so would have been anti-dilutive, were as follows: Three Months Ended September 30, Nine Months Ended 2016 2015 2016 2015 Series A Convertible Preferred Stock 9,022,556 9,022,556 9,022,556 9,022,556 Series B Convertible Preferred Stock 8,416,251 8,416,251 8,416,251 8,416,251 Series A Convertible Preferred Stock warrants 4,511,279 4,511,279 4,511,279 4,511,279 Common stock warrants 1,336,947 362,970 1,336,947 362,970 Stock options 11,231,644 9,094,716 11,231,644 9,094,716 Total 34,518,677 31,407,772 34,518,677 31,407,772

Stock Incentive Plans (Tables)

Stock Incentive Plans (Tables)	9 Months Ended
	Sep. 30, 2016
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Summary of stock option transactions	The following table presents a summary of stock option activity for the three and nine months ended September 30, 2016 and 2015: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options Weighted Average Exercise Price Options outstanding at beginning of period 10,648,702 $ 3.30 9,292,947 $ 3.49 9,475,890 $ 3.43 7,681,256 $ 3.03 Grants 749,250 1.53 69,000 4.39 2,169,750 2.06 1,902,500 5.38 Forfeitures (114,837 ) 4.03 (200,260 ) 5.25 (313,297 ) 3.44 (349,645 ) 4.84 Exercises (51,471 ) 1.33 (66,971 ) 2.09 (100,699 ) 1.56 (139,395 ) 1.99 Options outstanding at period end 11,231,644 3.18 9,094,716 3.47 11,231,644 3.18 9,094,716 3.47 Options exercisable at period end 7,116,615 3.26 5,510,064 3.19 7,116,615 3.26 5,510,064 3.19 Weighted average per share fair value of options granted during the period $ 1.17 $ 3.37 $ 1.56 $ 4.19
Summary of additional stock option transactions	The following table provides additional information related to outstanding stock options, exercisable stock options and stock options expected to vest as of September 30, 2016 : Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In thousands) Outstanding 11,231,644 $ 3.18 6.69 years $ 71 Exercisable 7,116,615 3.26 5.46 years 70 Outstanding, vested and expected to vest 10,696,132 3.19 6.57 years 71 The following table provides additional information related to outstanding stock options, exercisable stock options and stock options expected to vest as of December 31, 2015 : Shares Weighted Average Exercise Price Weighted Average Remaining Contractual Term Aggregate Intrinsic Value (In thousands) Outstanding 9,475,890 $ 3.43 6.96 years $ 2,565 Exercisable 5,808,528 3.27 5.87 years 2,186 Outstanding, vested and expected to vest 9,016,217 3.41 6.86 years 2,541

Fair Value (Tables)

Fair Value (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Assets Measured at Fair Value on Recurring Basis	The following fair value table presents information about the Company’s assets and liabilities measured at fair value on a recurring basis: September 30, 2016 Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents (1) $ — $ — $ — $ — Assets measured at fair value $ — $ — $ — $ — Liabilities: Derivative warrant liability (2) $ — $ 1,060 $ — $ 1,060 Liabilities measured at fair value $ — $ 1,060 $ — $ 1,060 December 31, 2015 Level 1 Level 2 Level 3 Total (In thousands) Assets: Cash equivalents (1) $ 1,010 $ — $ — $ 1,010 Assets measured at fair value $ 1,010 $ — $ — $ 1,010 Liabilities: Derivative warrant liability (2) $ — $ 2,815 $ — $ 2,815 Liabilities measured at fair value $ — $ 2,815 $ — $ 2,815 (1) The carrying amounts approximate fair value due to the short-term maturities of the cash equivalents. (2) The Company uses the Black-Scholes option pricing model and assumptions that consider, among other variables, the fair value of the underlying stock, risk-free interest rate, volatility, expected life and dividend rates in estimating fair value for the warrants considered to be derivative instruments.

Segment Information (Tables)

Segment Information (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of Reporting Segments	The following table presents a summary of the Company's reporting segments for the three months ended September 30, 2016 and 2015: Three Months Ended Three Months Ended U.S. International Consolidated U.S. International Consolidated (In thousands) NET REVENUE $ 6,184 $ 2,114 $ 8,298 $ 5,032 $ 1,869 $ 6,901 COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION (374 ) (112 ) (486 ) (245 ) (389 ) (634 ) GROSS PROFIT 5,810 2,002 7,812 4,787 1,480 6,267 RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES 2,204 1,057 3,261 2,320 1,758 4,078 GENERAL AND ADMINISTRATIVE EXPENSES 2,232 1,413 3,645 1,712 1,319 3,031 SALES AND MARKETING EXPENSES 5,618 1,834 7,452 4,546 2,403 6,949 DEPRECIATION AND AMORTIZATION 674 23 697 639 14 653 OPERATING EXPENSES 10,728 4,327 15,055 9,217 5,494 14,711 NET LOSS FROM OPERATIONS (4,918 ) (2,325 ) (7,243 ) (4,430 ) (4,014 ) (8,444 ) OTHER INCOME AND EXPENSES, NET (1,969 ) 6,983 NET LOSS BEFORE TAXES $ (9,212 ) $ (1,461 ) The following table presents a summary of the Company's reporting segments for the nine months ended September 30, 2016 and 2015: Nine Months Ended Nine Months Ended U.S. International Consolidated U.S. International Consolidated (In thousands) NET REVENUE $ 17,511 $ 6,145 $ 23,656 $ 11,279 $ 5,336 $ 16,615 COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION (964 ) (456 ) (1,420 ) (573 ) (720 ) (1,293 ) GROSS PROFIT 16,547 5,689 22,236 10,706 4,616 15,322 RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES 6,024 3,462 9,486 5,176 6,046 11,222 GENERAL AND ADMINISTRATIVE EXPENSES 6,569 4,510 11,079 6,080 4,391 10,471 SALES AND MARKETING EXPENSES 16,573 5,498 22,071 14,274 6,729 21,003 DEPRECIATION AND AMORTIZATION 2,015 67 2,082 1,819 45 1,864 OPERATING EXPENSES 31,181 13,537 44,718 27,349 17,211 44,560 NET LOSS FROM OPERATIONS (14,634 ) (7,848 ) (22,482 ) (16,643 ) (12,595 ) (29,238 ) OTHER INCOME AND EXPENSES, NET (4,682 ) 9,461 NET LOSS BEFORE TAXES $ (27,164 ) $ (19,777 )

Nature of Operations (Detail)

Nature of Operations (Detail) - ILUVIEN	9 Months Ended
	Sep. 30, 2016Patient
Nature Of Operations [Line Items]
Post-authorization open study period	5 years
Planned drug study, number of patients	800
Number of patients enrolled (more than)	430

Summary of Significant Accoun34

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Accounting Policies [Abstract]
Allowance for doubtful accounts receivable	$ 26		$ 26		$ 118
Research and development expense	$ 1,567	$ 940	$ 4,438	$ 1,958

Factors Affecting Operations (D

Factors Affecting Operations (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015	Sep. 30, 2015	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Accumulated deficit	$ 371,146	$ 343,900
Cash and cash equivalents	$ 33,853	$ 31,075	$ 39,340	$ 76,697

Inventory (Detail)

Inventory (Detail) - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Inventory net realizable value
Component parts	[1]	$ 172	$ 131
Work-in-process	[2]	214	333
Finished goods		566	1,525
Total inventory		952	1,989
Inventory reserve		(39)	(437)
Inventory — net		$ 913	$ 1,552
[1]	Component parts inventory consists of manufactured components of the ILUVIEN applicator.
[2]	Work-in-process primarily consists of completed units of ILUVIEN that are undergoing, but have not completed, quality assurance testing as required by regulatory authorities in Europe.

Intangible Asset - Narrative (D

Intangible Asset - Narrative (Details) - USD ($)	1 Months Ended	3 Months Ended		9 Months Ended
	Oct. 31, 2014	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015	Aug. 31, 2014
Finite-Lived Intangible Assets [Line Items]
Net intangible assets		$ 21,093,000		$ 21,093,000		$ 22,549,000	$ 0
License
Finite-Lived Intangible Assets [Line Items]
Net intangible assets		21,093,000		21,093,000		$ 22,549,000
Gross intangible assets		25,000,000		$ 25,000,000
Useful life				13 years
Amortization of intangible assets		$ 489,000	$ 489,000	$ 1,457,000	$ 1,451,000
pSivida
Finite-Lived Intangible Assets [Line Items]
Milestone payment after the first product approved by the FDA	$ 25,000,000

Intangible Asset - Future Amort

Intangible Asset - Future Amortization (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015	Aug. 31, 2014
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Total	$ 21,093,000	$ 22,549,000	$ 0
License
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2,016	489,000
2,017	1,940,000
2,018	1,940,000
2,019	1,940,000
2,020	1,940,000
Thereafter	12,844,000
Total	$ 21,093,000	$ 22,549,000

Accrued Expenses - Summary of A

Accrued Expenses - Summary of Accrued Expenses (Detail) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Summary of accrued expenses
Accrued compensation expenses	$ 1,561	$ 804
Accrued clinical investigator expenses	1,092	732
Accrued rebate and other revenue reserves	724	452
Accrued End of Term Payment (Note 9)	0	1,050
Other accrued expenses	792	873
Total accrued expenses	$ 4,169	$ 3,911

License Agreements (Detail)

License Agreements (Detail) - pSivida - USD ($)	1 Months Ended	9 Months Ended	12 Months Ended
	Oct. 31, 2014	Sep. 30, 2016	Dec. 31, 2014	Dec. 31, 2015
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Minimum days to require to revert license in case of breaches of contract		30 days
Maximum days to require to revert license in case of breaches of contract		90 days
Period of bankruptcy petition proceedings remains undismissed		60 days
Additional milestone payment after the first product approved by the FDA	$ 25,000,000
Share of net profits		20.00%
Share of any lump sum milestone payments received from a sub-licensee of ILUVIEN		33.00%
Recovery of commercialization costs		20.00%
Commercialization costs receivable		$ 25,239,000	$ 12,956,000	$ 21,565,000
Commercialization costs receivable disputed by licensor			1,290,000
Incremental profit sharing payments claimed			$ 136,000
Commercialization costs receivable post report		$ 20,931,000		$ 18,504,000

Loan Agreements (Detail)

Loan Agreements (Detail)

1 Months Ended

3 Months Ended

8 Months Ended

9 Months Ended

12 Months Ended

14 Months Ended

24 Months Ended

Oct. 31, 2016USD ($)payment

Aug. 31, 2016USD ($)

Nov. 30, 2015USD ($)$ / sharesshares

Apr. 30, 2014USD ($)$ / sharesshares

Sep. 30, 2016USD ($)

Sep. 30, 2015USD ($)

Jun. 30, 2017USD ($)

Sep. 30, 2016USD ($)

Sep. 30, 2015USD ($)

Nov. 20, 2018

Oct. 20, 2017

Dec. 31, 2017USD ($)

Nov. 01, 2020

Jul. 31, 2016USD ($)$ / sharesshares

May 31, 2016USD ($)

Mar. 31, 2016USD ($)$ / sharesshares

Dec. 31, 2015USD ($)

Sep. 30, 2014USD ($)

Debt Instrument [Line Items]

Debt issuance costs incurred

$ 715,000

$ 0

Accrued end of term payment

$ 0

0

$ 1,050,000

Loss on early extinguishment of debt

$ 0

$ 0

$ 2,564,000

$ 0

Maximum value of common stock to be sold

$ 35,000,000

Alimera Sciences, Inc.(Company) | Hercules Technology Growth Capital, Inc. | 2014 Term Loan

Debt Instrument [Line Items]

Term loan amount

25,000,000

Number of shares called by warrants | shares

285,016

Exercise price on warrants (in dollars per share) | $ / shares

$ 6.14

Warrants exercisable

60.00%

Warrants that will become exercisable upon obtaining additional financing amount (percent)

40.00%

Alimera Sciences, Inc.(Company) | Hercules Technology Growth Capital, Inc. | First Loan Amendment

Debt Instrument [Line Items]

Number of shares called by warrants | shares

660,377

Exercise price on warrants (in dollars per share) | $ / shares

$ 2.65

Alimera Sciences, Inc.(Company) | Hercules Technology Growth Capital, Inc. | Second Loan Amendment

Debt Instrument [Line Items]

Number of shares called by warrants | shares

862,069

Exercise price on warrants (in dollars per share) | $ / shares

$ 2.03

Alimera Sciences, Inc.(Company) | Hercules Technology Growth Capital, Inc. | July 2016 Waiver

Debt Instrument [Line Items]

Number of shares called by warrants | shares

1,258,993

Exercise price on warrants (in dollars per share) | $ / shares

$ 1.39

Alimera Sciences Limited (Limited) | Hercules Technology Growth Capital, Inc. | 2014 Term Loan

Debt Instrument [Line Items]

Company entitled to borrow

$ 35,000,000

Term loan amount

$ 10,000,000

$ 25,000,000

Interest rate on term loan

10.90%

Effective interest rate

11.15%

11.15%

Alimera Sciences Limited (Limited) | Hercules Technology Growth Capital, Inc. | First Loan Amendment

Debt Instrument [Line Items]

An upfront fee payment to lenders

$ 262,500

Accrued end of term payment

$ 1,050,000

Additional payment to be made, percentage of principal

3.00%

Alimera Sciences Limited (Limited) | Hercules Technology Growth Capital, Inc. | Second Loan Amendment

Debt Instrument [Line Items]

Debt issuance costs incurred

$ 360,000

Accrued end of term payment

$ 1,400,000

Amendment fee

$ 350,000

Loss on early extinguishment of debt

$ 2,564,000

Alimera Sciences Limited (Limited) | Hercules Technology Growth Capital, Inc. | Third Loan Amendment

Debt Instrument [Line Items]

Debt covenant minimum cash balance

$ 2,000,000

Alimera Sciences Limited (Limited) | Hercules Technology Growth Capital, Inc. | July 2016 Waiver

Debt Instrument [Line Items]

An upfront fee payment to lenders

$ 350,000

Weekly ticking fee percent of outstanding principal

0.05%

Ticking fee incurred

$ 65,000

Prime rate | Alimera Sciences Limited (Limited) | Hercules Technology Growth Capital, Inc. | 2014 Term Loan

Debt Instrument [Line Items]

Basis spread on variable rate

7.65%

Subsequent Event | Alimera Sciences, Inc.(Company) | Hercules Technology Growth Capital, Inc. | Fourth Loan Amendment

Debt Instrument [Line Items]

Amount of common stock used to calculate number of callable warrants

$ 500,000

Subsequent Event | Alimera Sciences Limited (Limited) | Hercules Technology Growth Capital, Inc. | Fourth Loan Amendment

Debt Instrument [Line Items]

Interest rate on term loan

11.00%

Number of payments required under instrument terms | payment

24

Debt covenant liquidity threshold

$ 35,000,000

Amendment fee

337,500

Increase in borrowing capacity

$ 10,000,000

Payment-in-kind interest rate

1.00%

Subsequent Event | Prime rate | Alimera Sciences Limited (Limited) | Hercules Technology Growth Capital, Inc. | Fourth Loan Amendment

Debt Instrument [Line Items]

Basis spread on variable rate

11.00%

Reduction in basis spread on variable rate

3.50%

Forecast | Subsequent Event | Alimera Sciences Limited (Limited) | Hercules Technology Growth Capital, Inc. | Fourth Loan Amendment

Debt Instrument [Line Items]

Prepayment fee percentage within the first year of borrowing

2.00%

3.00%

1.00%

Increase in borrowing capacity

$ 5,000,000

$ 5,000,000

Trailing three month net product revenue requirement

$ 12,000,000

$ 15,000,000

Loss Per Share (EPS) (Detail)

Loss Per Share (EPS) (Detail) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	34,518,677	31,407,772	34,518,677	31,407,772
Series A Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	9,022,556	9,022,556	9,022,556	9,022,556
Series B Convertible Preferred Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	8,416,251	8,416,251	8,416,251	8,416,251
Series A Convertible Preferred Stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	4,511,279	4,511,279	4,511,279	4,511,279
Common stock warrants
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	1,336,947	362,970	1,336,947	362,970
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share	11,231,644	9,094,716	11,231,644	9,094,716

Preferred Stock (Detail)

Preferred Stock (Detail) - USD ($) $ / shares in Units, $ in Thousands	Dec. 12, 2014	Oct. 02, 2012	Sep. 30, 2014	Apr. 30, 2014	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2015
Conversion of Stock [Line Items]
Estimated fair value of derivatives					$ 1,060		$ 1,060			$ 2,815
Gain (loss) on change in fair value of derivatives					$ (588)	$ 8,363	1,755	$ 13,085
Payment of stock issuance cost							$ 1,227	$ 0
Series A Convertible Preferred Stock
Conversion of Stock [Line Items]
Number of preferred stock and warrants (in shares)		1,000,000
Warrants to purchase additional shares		300,000
Gross proceeds under securities purchase agreement		$ 40,000
Estimated total stock issuance cost		$ 560
Conversion rate of Series A Convertible Preferred Stock issued upon exercise of warrants into common stock (in dollar per share)		$ 40
Initial conversion price (in dollars per share)		2.66
Preferred stock converted to common stock per share (in dollars per share)		$ 10
Proceeds from issuance of preferred stock		$ 30,000
Proportion of each unit of shares (in shares)		0.30
Exercise price of warrants (in dollars per share)		$ 44
Convertible securities converted (in shares)			250,000	150,000
Preferred stock, shares issued					600,000		600,000			600,000
Preferred stock, shares outstanding					600,000		600,000			600,000
Common stock
Conversion of Stock [Line Items]
Common stock issued upon conversion of convertible securities (in shares)			3,759,398	2,255,639
Series B Convertible Preferred Stock
Conversion of Stock [Line Items]
Preferred stock, shares issued					8,416.251		8,416.251			8,416.251
Preferred stock, shares outstanding					8,416.251		8,416.251			8,416.251
Issuance of stock (in shares)	8,291.873
Share purchase price of shares issued (in dollars per share)	$ 6,030
Stock issued during period (in shares)	$ 50,000
Payment of stock issuance cost	$ 432
Shares issued upon conversion	1,000
Ownership interest after conversion (percent)	9.98%
Adjustment to APIC									$ 750
Series B Convertible Preferred Stock | Over-Allotment Option
Conversion of Stock [Line Items]
Issuance of stock (in shares)	124.378

Common Stock (Detail)

Common Stock (Detail) - USD ($)	1 Months Ended	9 Months Ended
	Aug. 31, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2014
Class of Stock [Line Items]
Maximum value of common stock to be sold				$ 35,000,000
Proceeds from sale of common stock		$ 27,547,000	$ 42,000
Payment of stock issuance cost		$ 1,227,000	$ 0
Private placement | Common stock
Class of Stock [Line Items]
Issuance of stock (in shares)		662,779
Share purchase price of shares issued (in dollars per share)		$ 1.83
Proceeds from sale of common stock		$ 1,211,000
Payment of stock issuance cost		$ 62,000
Public Offering | Common stock
Class of Stock [Line Items]
Issuance of stock (in shares)	18,900,000
Share purchase price of shares issued (in dollars per share)	$ 1.40
Proceeds from sale of common stock	$ 26,460,000
Payment of stock issuance cost	$ 1,309,000
Employee Stock | Common stock
Class of Stock [Line Items]
Issuance of stock (in shares)		41,413	10,993
Proceeds from sale of common stock		$ 78,000	$ 42,000

Stock Incentive Plans - Additio

Stock Incentive Plans - Additional Information (Detail) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average contractual term			5 years 5 months 15 days		5 years 10 months 13 days
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 1,116	$ 1,355	$ 3,683	$ 3,623
Share-based compensation not yet recognized	9,448		$ 9,448
Weighted average contractual term			2 years 6 months 25 days
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 18	$ 38	$ 69	$ 79

Stock Incentive Plans - Summary

Stock Incentive Plans - Summary of Stock Option Transactions (Detail) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Options
Options outstanding at beginning of period (in shares)	10,648,702	9,292,947	9,475,890	7,681,256
Grants (in shares)	749,250	69,000	2,169,750	1,902,500
Forfeitures (in shares)	(114,837)	(200,260)	(313,297)	(349,645)
Exercises (in shares)	(51,471)	(66,971)	(100,699)	(139,395)
Options outstanding at year end (in shares)	11,231,644	9,094,716	11,231,644	9,094,716
Options exercisable at year end (in shares)	7,116,615	5,510,064	7,116,615	5,510,064	5,808,528
Weighted average per share fair value of options granted during the period (in dollars per share)	$ 1.17	$ 3.37	$ 1.56	$ 4.19
Weighted Average Exercise Price
Options outstanding at beginning of period (in dollars per share)	3.30	3.49	3.43	3.03
Grants (in dollars per share)	1.53	4.39	2.06	5.38
Forfeitures (in dollars per share)	4.03	5.25	3.44	4.84
Exercises (in dollars per share)	1.33	2.09	1.56	1.99
Options outstanding at year end (in dollars per share)	3.18	3.47	3.18	3.47
Options exercisable at year end (in dollars per share)	$ 3.26	$ 3.19	$ 3.26	$ 3.19	$ 3.27

Stock Incentive Plans - Addit47

Stock Incentive Plans - Additional Stock Option Transactions (Detail) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015	Jun. 30, 2016	Sep. 30, 2015	Jun. 30, 2015	Dec. 31, 2014
Outstanding Stock Options
Outstanding, Shares	11,231,644	9,475,890	10,648,702	9,094,716	9,292,947	7,681,256
Outstanding, Weighted Average Exercise Price (in dollars per share)	$ 3.18	$ 3.43	$ 3.30	$ 3.47	$ 3.49	$ 3.03
Outstanding, Weighted Average Remaining Contractual Term	6 years 8 months 8 days	6 years 11 months 15 days
Outstanding, Aggregate Intrinsic Value	$ 71	$ 2,565
Exercisable Stock Options
Exercisable, Shares	7,116,615	5,808,528		5,510,064
Exercisable, Weighted Average Exercise Price (in dollars per share)	$ 3.26	$ 3.27		$ 3.19
Exercisable, Weighted Average Remaining Contractual Term	5 years 5 months 15 days	5 years 10 months 13 days
Exercisable, Aggregate Intrinsic Value	$ 70	$ 2,186
Exercisable and expected to vest
Outstanding, vested and expected to vest, Shares	10,696,132	9,016,217
Outstanding, vested and expected to vest, Weighted Average Exercise Price (in dollars per share)	$ 3.19	$ 3.41
Outstanding, vested and expected to vest, Weighted Average Remaining Contractual Term	6 years 6 months 25 days	6 years 10 months 9 days
Outstanding, vested and expected to vest, Aggregate Intrinsic Value	$ 71	$ 2,541

Income Taxes (Detail)

Income Taxes (Detail) $ in Thousands	Dec. 31, 2015USD ($)
Operating Loss Carryforwards [Line Items]
Cumulative book losses in foreign subsidiaries	$ 67,452
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carry-forwards	100,835
State
Operating Loss Carryforwards [Line Items]
Net operating loss carry-forwards	$ 78,762

Fair Value (Detail)

Fair Value (Detail) - Recurring basis - USD ($) $ in Thousands		Sep. 30, 2016	Dec. 31, 2015
Assets:
Cash equivalents	[1]	$ 0	$ 1,010
Assets measured at fair value		0	1,010
Liabilities:
Derivative warrant liability	[2]	1,060	2,815
Liabilities measured at fair value		1,060	2,815
Level 1
Assets:
Cash equivalents	[1]	0	1,010
Assets measured at fair value		0	1,010
Liabilities:
Derivative warrant liability	[2]	0	0
Liabilities measured at fair value		0	0
Level 2
Assets:
Cash equivalents	[1]	0	0
Assets measured at fair value		0	0
Liabilities:
Derivative warrant liability	[2]	1,060	2,815
Liabilities measured at fair value		1,060	2,815
Level 3
Assets:
Cash equivalents	[1]	0	0
Assets measured at fair value		0	0
Liabilities:
Derivative warrant liability	[2]	0	0
Liabilities measured at fair value		$ 0	$ 0
[1]	The carrying amounts approximate fair value due to the short-term maturities of the cash equivalents.
[2]	The Company uses the Black-Scholes option pricing model and assumptions that consider, among other variables, the fair value of the underlying stock, risk-free interest rate, volatility, expected life and dividend rates in estimating fair value for the warrants considered to be derivative instruments.

Segment Information (Details)

Segment Information (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)customerdistributor	Sep. 30, 2015USD ($)customer	Sep. 30, 2016USD ($)customer	Sep. 30, 2015USD ($)	Dec. 31, 2015customer
Segment Reporting Information [Line Items]
NET REVENUE	$ 8,298	$ 6,901	$ 23,656	$ 16,615
COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION	(486)	(634)	(1,420)	(1,293)
GROSS PROFIT	7,812	6,267	22,236	15,322
RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES	3,261	4,078	9,486	11,222
GENERAL AND ADMINISTRATIVE EXPENSES	3,645	3,031	11,079	10,471
SALES AND MARKETING EXPENSES	7,452	6,949	22,071	21,003
DEPRECIATION AND AMORTIZATION	697	653	2,082	1,864
OPERATING EXPENSES	15,055	14,711	44,718	44,560
NET LOSS FROM OPERATIONS	(7,243)	(8,444)	(22,482)	(29,238)
OTHER INCOME AND EXPENSES, NET	(1,969)	6,983	(4,682)	9,461
NET LOSS BEFORE TAXES	(9,212)	(1,461)	(27,164)	(19,777)
U.S.
Segment Reporting Information [Line Items]
NET REVENUE	6,184	5,032	17,511	11,279
COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION	(374)	(245)	(964)	(573)
GROSS PROFIT	5,810	4,787	16,547	10,706
RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES	2,204	2,320	6,024	5,176
GENERAL AND ADMINISTRATIVE EXPENSES	2,232	1,712	6,569	6,080
SALES AND MARKETING EXPENSES	5,618	4,546	16,573	14,274
DEPRECIATION AND AMORTIZATION	674	639	2,015	1,819
OPERATING EXPENSES	10,728	9,217	31,181	27,349
NET LOSS FROM OPERATIONS	(4,918)	(4,430)	(14,634)	(16,643)
International
Segment Reporting Information [Line Items]
NET REVENUE	2,114	1,869	6,145	5,336
COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION	(112)	(389)	(456)	(720)
GROSS PROFIT	2,002	1,480	5,689	4,616
RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES	1,057	1,758	3,462	6,046
GENERAL AND ADMINISTRATIVE EXPENSES	1,413	1,319	4,510	4,391
SALES AND MARKETING EXPENSES	1,834	2,403	5,498	6,729
DEPRECIATION AND AMORTIZATION	23	14	67	45
OPERATING EXPENSES	4,327	5,494	13,537	17,211
NET LOSS FROM OPERATIONS	$ (2,325)	$ (4,014)	$ (7,848)	$ (12,595)
Customer Concentration Risk | Revenues
Segment Reporting Information [Line Items]
Number of major customers | customer	2	2	2
Concentration risk percentage	75.00%	73.00%	74.00%	68.00%
Number of pharmaceutical distributors | distributor	2
Customer Concentration Risk | Accounts Receivable
Segment Reporting Information [Line Items]
Number of major customers | customer			2		2
Concentration risk percentage			89.00%		88.00%