Alimera Sciences (ALIM) 10-Q 6 May 20 2020 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2020	May 04, 2020
Document and Entity Information [Abstract]
Entity Registrant Name	ALIMERA SCIENCES INC
Entity Central Index Key	0001267602
Document Type	10-Q
Document Period End Date	Mar. 31, 2020
Amendment Flag	false
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q1
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Smaller Reporting Company	true
Emerging Growth Company	false
Entity Current Reporting Status	Yes
Entity Shell Company	false
Entity common stock, shares outstanding (in shares)		5,031,745

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
CURRENT ASSETS:
Cash and cash equivalents	$ 12,242	$ 9,426
Restricted cash	31	33
Accounts receivable, net	16,179	19,331
Prepaid expenses and other current assets	2,497	2,565
Inventory (Note 7)	1,196	1,390
Total current assets	32,145	32,745
NON-CURRENT ASSETS:
Property and equipment, net	867	940
Right of use assets, net	967	1,107
Intangible asset, net (Note 8)	14,299	14,783
Deferred tax asset	720	734
TOTAL ASSETS	48,998	50,309
CURRENT LIABILITIES:
Accounts payable	5,833	7,077
Accrued expenses	3,045	4,716
Finance lease obligations	243	255
Total current liabilities	9,121	12,048
NON-CURRENT LIABILITIES:
Note payable, net of discount (Note 10)	41,395	38,658
Finance lease obligations — less current portion	97	94
Other non-current liabilities	3,789	3,954
COMMITMENTS AND CONTINGENCIES
STOCKHOLDERS’ (DEFICIT) EQUITY:
Common stock, $.01 par value — 150,000,000 shares authorized, 5,028,882 shares issued and outstanding at March 31, 2020 and 4,965,949 shares issued and outstanding at December 31, 2019	50	50
Additional paid-in capital	350,442	350,117
Common stock warrants	3,707	3,707
Accumulated deficit	(388,768)	(387,570)
Accumulated other comprehensive loss	(1,179)	(1,093)
TOTAL STOCKHOLDERS’ (DEFICIT) EQUITY	(5,404)	(4,445)
TOTAL LIABILITIES AND STOCKHOLDERS’ (DEFICIT) EQUITY	48,998	50,309
Series A convertible preferred stock
STOCKHOLDERS’ (DEFICIT) EQUITY:
Preferred stock	19,227	19,227
Series C convertible preferred stock
STOCKHOLDERS’ (DEFICIT) EQUITY:
Preferred stock	$ 11,117	$ 11,117

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Preferred stock, par value (usd per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Common stock, par value (usd per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	150,000,000	150,000,000
Common stock, shares issued (in shares)	5,028,882	4,965,949
Common stock, shares outstanding (in shares)	5,028,882	4,965,949
Series A convertible preferred stock
Preferred stock, shares authorized (in shares)	1,300,000	1,300,000
Preferred stock, shares issued (in shares)	600,000	600,000
Preferred stock, shares outstanding (in shares)	600,000	600,000
Preferred stock, liquidation preference	$ 24,000,000	$ 24,000,000
Series C convertible preferred stock
Preferred stock, shares authorized (in shares)	10,150,000	10,150,000
Preferred stock, shares issued (in shares)	10,150,000	10,150,000
Preferred stock, shares outstanding (in shares)	10,150,000	10,150,000
Preferred stock, liquidation preference	$ 10,150,000	$ 10,150,000

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Income Statement [Abstract]
NET REVENUE	$ 14,535	$ 12,890
COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION	(1,927)	(1,600)
GROSS PROFIT	12,608	11,290
RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES	2,883	2,727
GENERAL AND ADMINISTRATIVE EXPENSES	3,181	3,393
SALES AND MARKETING EXPENSES	5,672	5,913
DEPRECIATION AND AMORTIZATION	654	652
OPERATING EXPENSES	12,390	12,685
NET INCOME (LOSS) FROM OPERATIONS	218	(1,395)
INTEREST EXPENSE AND OTHER	(1,292)	(1,228)
UNREALIZED FOREIGN CURRENCY LOSS, NET	(81)	(69)
NET LOSS BEFORE TAXES	(1,155)	(2,692)
PROVISION FOR TAXES	(43)	(71)
NET LOSS	$ (1,198)	$ (2,763)
NET (LOSS) INCOME PER COMMON SHARE — Basic and diluted (in dollars per share)	$ (0.24)	$ (0.59)
WEIGHTED AVERAGE COMMON SHARES OUTSTANDING — Basic and diluted (in shares)	4,980,722	4,716,054

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Statement of Comprehensive Income [Abstract]
NET LOSS	$ (1,198)	$ (2,763)
OTHER COMPREHENSIVE LOSS
Foreign currency translation adjustments	(86)	(83)
TOTAL OTHER COMPREHENSIVE LOSS	(86)	(83)
COMPREHENSIVE LOSS	$ (1,284)	$ (2,846)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (1,198)	$ (2,763)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation and amortization	654	652
Unrealized foreign currency transaction loss	81	69
Amortization of debt discount	239	206
Stock-based compensation expense	440	770
Changes in assets and liabilities:
Accounts receivable	3,036	1,755
Prepaid expenses and other current assets	54	(381)
Inventory	177	532
Accounts payable	(1,154)	301
Accrued expenses and other current liabilities	(1,627)	(857)
Other long-term liabilities	(154)	0
Net cash provided by operating activities	548	284
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property and equipment	(25)	(15)
Net cash used in investing activities	(25)	(15)
CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of debt	2,500	0
Payment of debt costs	(3)	0
Payment of finance lease obligations	(82)	(110)
Net cash provided by (used in) financing activities	2,415	(110)
EFFECT OF EXCHANGE RATES ON CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	(124)	(107)
NET CHANGE IN CASH AND CASH EQUIVALENTS AND RESTRICTED CASH	2,814	52
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH — Beginning of period	9,459	13,075
CASH AND CASH EQUIVALENTS AND RESTRICTED CASH — End of period	12,273	13,127
SUPPLEMENTAL DISCLOSURES:
Cash paid for interest	1,007	1,012
Cash paid for income taxes	30	4
Supplemental schedule of non-cash investing and financing activities:
Property and equipment acquired under finance leases	$ 74	$ 64

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' (DEFICIT) EQUITY - USD ($) $ in Thousands	Total	Common Stock	Preferred StockSeries A Convertible Preferred Stock	Preferred StockSeries C Convertible Preferred Stock	Additional Paid-In Capital	Common Stock Warrants	Accumulated Deficit	Accumulated Other Comprehensive Loss
Beginning balance (in shares) at Dec. 31, 2018		4,671,921	600,000	10,150
Beginning balance at Dec. 31, 2018	$ 2,722	$ 47	$ 19,227	$ 11,117	$ 346,762	$ 3,707	$ (377,127)	$ (1,011)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs (in shares)		59,319
Issuance of common stock, net of issuance costs	0	$ 0			0
Stock-based compensation	770				770
Net loss	(2,763)						(2,763)
Foreign currency translation adjustments	(83)							(83)
Ending balance (in shares) at Mar. 31, 2019		4,731,240	600,000	10,150
Ending balance at Mar. 31, 2019	646	$ 47	$ 19,227	$ 11,117	347,532	3,707	(379,890)	(1,094)
Beginning balance (in shares) at Dec. 31, 2019		4,965,949	600,000	10,150
Beginning balance at Dec. 31, 2019	(4,445)	$ 50	$ 19,227	$ 11,117	350,117	3,707	(387,570)	(1,093)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, net of issuance costs (in shares)		62,933
Issuance of common stock, net of issuance costs	0	$ 0			0
Stock-based compensation	440				440
Other	(115)				(115)
Net loss	(1,198)
Foreign currency translation adjustments	(86)
Ending balance (in shares) at Mar. 31, 2020		5,028,882	600,000	10,150
Ending balance at Mar. 31, 2020	$ (5,404)	$ 50	$ 19,227	$ 11,117	$ 350,442	$ 3,707	$ (388,768)	$ (1,179)

NATURE OF OPERATIONS

NATURE OF OPERATIONS	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
NATURE OF OPERATIONS	NATURE OF OPERATIONS Alimera Sciences, Inc., together with its wholly owned subsidiaries (the Company), is a pharmaceutical company that specializes in the commercialization and development of ophthalmic pharmaceuticals. The Company’s only product is ILUVIEN ® , which has received marketing authorization and reimbursement approval in numerous countries for the treatment of diabetic macular edema (DME). In the U.S. and certain other countries outside Europe, ILUVIEN is indicated for the treatment of DME in patients who have been previously treated with a course of corticosteroids and did not have a clinically significant rise in intraocular pressure. In 17 countries in Europe, ILUVIEN is indicated for the treatment of vision impairment associated with chronic DME considered insufficiently responsive to available therapies. ILUVIEN is also indicated in 16 countries in Europe for prevention of relapse in recurrent non-infectious uveitis affecting the posterior segment of the eye (NIU-PS). The Company markets ILUVIEN directly in the U.S., Germany, the U.K., Portugal, Austria and Ireland. In addition, the Company has entered into various agreements under which distributors are providing or will provide regulatory, reimbursement and sales and marketing support for ILUVIEN in Belgium, France, Italy, Luxembourg, the Netherlands, Spain, Australia, New Zealand, Canada and several countries in the Middle East. As of March 31, 2020 , the Company has recognized sales of ILUVIEN to the Company’s international distributors in the Middle East, France, Italy and Spain.

BASIS OF PRESENTATION

BASIS OF PRESENTATION	3 Months Ended
	Mar. 31, 2020
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 with the instructions to Form 10-Q and Article 8-03 of Regulation S-X of the Securities and Exchange Commission (SEC). Accordingly, these Interim Financial Statements 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, 2019 and related notes included in the Company’s Annual Report on Form 10-K, which was filed with the SEC on March 2, 2020. The financial results for any interim period are not necessarily indicative of the expected financial results for the full year. Effects of the COVID-19 Pandemic The public health crisis caused by the COVID-19 pandemic and the measures being taken by governments, businesses, and the public at large to limit COVID-19’s spread have had, and the Company expects will continue to have, certain negative effects on, and present certain risks to, the Company’s business. The Company is currently unable to fully determine its future impact on the Company’s business. These limitations and other effects of COVID-19 had a material adverse impact on the Company’s revenues late in the first quarter of 2020 and in the month of April 2020. The Company expects these factors to continue to adversely impact the Company’s revenue, but the extent and duration of that impact is uncertain at this time. The Company is monitoring the pandemic and its potential effect on the Company’s financial position, results of operations and cash flows. This uncertainty could have an impact in future periods on certain estimates used in the preparation of the Company’s quarterly financial results, including impairment of intangible assets, the income tax provision and realizability of certain receivables. Should the pandemic continue for an extended period of time, the impact on the Company’s operations could have a material adverse effect on the Company’s revenue, financial condition and cash flows.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2020
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The Company’s 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, 2019. Reverse Stock Split On November 14, 2019, the Company filed a certificate of amendment to its restated certificate of incorporation with the Secretary of State of the State of Delaware, which effected a one-for-15 reverse stock split (the “reverse split”) of its issued and outstanding shares of common stock at 5:01 PM Eastern Time on that date. As a result of the reverse split, every 15 shares of common stock issued and outstanding were converted into one share of common stock. The Company paid cash in lieu of fractional shares, and accordingly, no fractional shares were issued in connection with the reverse split. The reverse split did not change the par value of the common stock or the authorized number of shares of common stock. All outstanding options, preferred stock, restricted stock units, warrants and other securities entitling their holders to purchase or otherwise receive shares of Alimera’s common stock have been adjusted as a result of the reverse split, as required by the terms of each security. The number of shares available to be awarded under the 2019 Omnibus Incentive Plan and the number of shares that are purchasable under the 2010 Employee Stock Purchase Plan have also been appropriately adjusted. Accounting Standards Issued but Not Yet Effective In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments - Credit Losses (Accounting Standards Codification (ASC 326)): Measurement of Credit Losses on Financial Instruments . This ASU replaces the current incurred loss impairment methodology for financial assets measured at amortized cost with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information, including forecasted information, to develop credit loss estimates. The standard becomes effective for the Company on January 1, 2023. The Company does not anticipate the adoption of this ASU will have a material impact on its financial statements.

REVENUE RECOGNITION

REVENUE RECOGNITION	3 Months Ended
	Mar. 31, 2020
Revenue from Contract with Customer [Abstract]
REVENUE RECOGNITION	REVENUE RECOGNITION Net Revenue The Company sells its products to major pharmaceutical distributors, pharmacies, hospitals and wholesalers (collectively, its Customers). In addition to distribution agreements with Customers, the Company enters into arrangements with healthcare providers and payors that provide for government-mandated and/or privately-negotiated rebates, chargebacks, and discounts with respect to the purchase of the Company’s products. All of the Company’s current contracts have a single performance obligation, as the promise to transfer the individual goods is not separately identifiable from other promises in the contracts and is, therefore, not distinct. All of the Company’s revenue is derived from product sales. The Company recognizes revenues from product sales at a point in time when the Customer obtains control, typically upon delivery. The Company accrues for fulfillment costs when the related revenue is recognized. Taxes collected from Customers relating to product sales and remitted to governmental authorities are excluded from revenues. As of March 31, 2020 , the Company had received a total of $1,000,000 of milestone payments in connection with the Company’s Canadian distributor that it has not recognized as revenue based on the Company’s analysis in connection with ASU 2014-09, Revenue from Contracts with Customers (ASC 606) . These deferred revenues are included as a component of other non-current liabilities on the Company’s balance sheets. Estimates of Variable Consideration Revenues from product sales are recorded at the net sales price (transaction price), which includes estimates of variable consideration for reserves related to statutory rebates to State Medicaid and other government agencies; commercial rebates and fees to Managed Care Organizations (MCOs), Group Purchasing Organizations (GPOs), distributors, and specialty pharmacies; product returns; sales discounts (including trade discounts); distributor costs; wholesaler chargebacks; and allowances for patient assistance programs relating to the Company’s sales of its products. These reserves are based on estimates of the amounts earned or to be claimed on the related sales. Management’s estimates take into consideration historical experience, current contractual and statutory requirements, specific known market events and trends, industry data, and Customer buying and payment patterns. Overall, these reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the contract. The amount of variable consideration included in the net sales price is limited to the amount that is probable not to result in a significant reversal in the amount of the cumulative revenue recognized in a future period. If actual results vary, the Company may adjust these estimates, which could have an effect on earnings in the period of adjustment. With respect to the Company’s international contracts with third party distributors, certain contracts have elements of variable consideration, and management reviews those contracts on a regular basis and makes estimates of revenue based on historical ordering patterns and known market events and data. The amount of variable consideration included in net sales in each period could vary depending on the terms of these contracts and the probability of reversal in future periods. Consideration Payable to Customers Distribution service fees are payments issued to distributors for compliance with various contractually-defined inventory management practices or services provided to support patient access to a product. Distribution service fees reserves are based on the terms of each individual contract and are classified within accrued expenses and are recorded as a reduction of revenue. Product Returns The Company’s policies provide for product returns in the following circumstances: (a) expiration of shelf life on certain products; (b) product damaged while in the Customer’s possession; and (c) following product recalls. Generally, returns for expired product are accepted three months before and up to one year after the expiration date of the related product, and the related product is destroyed after it is returned. The Company may either refund the sales price paid by the Customer by issuing a credit or exchanging the returned product for replacement inventory. The Company typically does not provide cash refunds. The Company estimates the proportion of recorded revenue that will result in a return by considering relevant factors, including historical returns experience, the estimated level of inventory in the distribution channel, the shelf life of products and product recalls, if any. The estimation process for product returns involves, in each case, several interrelating assumptions, which vary for each Customer. The Company estimates the amount of its product sales that may be returned by its Customers and records this estimate as a reduction of revenue from product sales in the period the related revenue is recognized, and because this returned product cannot be resold, there is no corresponding asset for product returns. To date, product returns have been minimal. Other Revenue The Company enters into agreements in which it licenses certain rights to its products to partner companies that act as distributors. The terms of these arrangements may include payment to the Company of one or more of the following: non-refundable, up-front license fees; development, regulatory and commercial milestone payments; payments for manufacturing supply services the Company provides; and a revenue share on net sales of licensed products. Each of these payments is recognized as other revenues. As part of the accounting for these arrangements, the Company must develop estimates that require judgment to determine the stand-alone selling price for each performance obligation identified in the contract. Performance obligations are promises in a contract to transfer a distinct good or service to the Customer, and the Company recognizes revenue when, or as, performance obligations are satisfied. The Company uses key assumptions to determine the stand-alone selling price; these assumptions may include forecasted revenues, development timelines, reimbursement rates for personnel costs, discount rates and probabilities of technical, regulatory and commercial success. Certain of these agreements include consideration in the form of milestone payments. At the inception of each arrangement that includes milestone payments, the Company evaluates the recognition of milestone payments. Typically, milestone payments are associated with events that are not entirely within the control of the Company or the licensee, such as regulatory approvals; are included in the transaction price; and are subject to a constraint until it is probable that there will not be a significant revenue reversal, typically upon achievement of the milestone. At the end of each reporting period, the Company re-evaluates the probability of achievement of such milestones and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Customer Payment Obligations The Company receives payments from its Customers based on billing schedules established in each contract, which vary across the Company’s locations, but generally range between 30 to 120 days. Occasionally, the timing of receipt of payment for the Company’s international Customers can be extended. Amounts are recorded as accounts receivable when the Company’s right to consideration is unconditional. The Company does not assess whether a contract has a significant financing component if the expectation is that the Customer will pay for the product or services in one year or less of receiving those products or services.

LEASES

LEASES	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
LEASES	LEASES The Company evaluates all of its contracts to determine whether it is or contains a lease at inception. The Company reviews its contracts for options to extend, terminate or purchase any right of use assets and accounts for these, as applicable, at inception of the contract. Lease renewal options are not recognized as part of the lease liability until the Company determines it is reasonably certain it will exercise any applicable renewal options. The Company has not recorded any liability for renewal options in these Interim Financial Statements. The useful lives of leased assets as well as leasehold improvements, if any, are limited by the expected lease term. Operating Leases The Company’s operating lease activities primarily consist of leases for office space in the U.S., the United Kingdom and Germany. Most of these leases include options to renew, with renewal terms generally ranging from one to seven years . The exercise of lease renewal options is at the Company’s sole discretion. Certain of the Company’s operating lease agreements include variable lease costs that are based on common area maintenance and property taxes. The Company expenses these payments as incurred. The Company’s operating lease agreements do not contain any material residual value guarantees or material restrictive covenants. Supplemental balance sheet information as of March 31, 2020 for the Company’s operating leases is as follows: (in thousands) NON-CURRENT ASSETS: Right of use assets, net $ 967 Total lease assets $ 967 CURRENT LIABILITIES: Accrued expenses $ 473 NON-CURRENT LIABILITIES: Other non-current liabilities 665 Total lease liabilities $ 1,138 The Company’s operating lease cost for the three months ended March 31, 2020 was $127,000 and is included in general and administrative expenses in its condensed consolidated statement of operations. As of March 31, 2020 , a schedule of maturity of lease liabilities under all of the Company’s operating leases is as follows: Years Ending December 31 (In thousands) 2020 $ 499 2021 451 2022 152 2023 152 2024 155 Thereafter — Total 1,409 Less amount representing interest (271 ) Present value of minimum lease payments 1,138 Less current portion (473 ) Non-current portion $ 665 Cash paid for operating leases was $102,000 during the three months ended March 31, 2020 . No right of use assets were obtained in exchange for operating leases for the three months ended March 31, 2020 . As of March 31, 2020 , the weighted average remaining lease terms of the Company’s operating leases was 3.3 years . The weighted average discount rate used to determine the lease liabilities was 10.1% . Finance Leases The Company’s finance lease activities primarily consist of leases for office equipment and automobiles. Property and equipment leases are capitalized at the lesser of fair market value or the present value of the minimum lease payments at the inception of the leases using the Company’s incremental borrowing rate. The Company’s finance lease agreements do not contain any material residual value guarantees or material restrictive covenants. Supplemental balance sheet information as of March 31, 2020 and December 31, 2019 for the Company’s finance leases is as follows: March 31, 2020 December 31, 2019 (In thousands) NON-CURRENT ASSETS: Property and equipment, net $ 406 $ 414 Total lease assets $ 406 $ 414 CURRENT LIABILITIES: Finance lease obligations $ 243 $ 255 NON-CURRENT LIABILITIES: Finance lease obligations — less current portion 97 94 Total lease liabilities $ 340 $ 349 Depreciation expense associated with property and equipment under finance leases was approximately $81,000 and $76,000 for the three months ended March 31, 2020 and 2019 , respectively. Interest expense associated with finance leases was $7,000 and $9,000 for the three months ended March 31, 2020 and 2019 , respectively. As of March 31, 2020 , a schedule of maturity of lease liabilities under finance leases, together with the present value of minimum lease payments, is as follows: Years Ending December 31 (In thousands) 2020 238 2021 105 2022 20 2023 1 Total 364 Less amount representing interest (24 ) Present value of minimum lease payments 340 Less current portion (243 ) Non-current portion $ 97 Cash paid for finance leases was $82,000 during the three months ended March 31, 2020 . The Company acquired $74,000 of property and equipment in exchange for finance leases during the three months ended March 31, 2020 . As of March 31, 2020 , the weighted average remaining lease terms of the Company’s financing leases was 1.1 years . The weighted average discount rate used to determine the financing lease liabilities was 7.5% .
LEASES	LEASES The Company evaluates all of its contracts to determine whether it is or contains a lease at inception. The Company reviews its contracts for options to extend, terminate or purchase any right of use assets and accounts for these, as applicable, at inception of the contract. Lease renewal options are not recognized as part of the lease liability until the Company determines it is reasonably certain it will exercise any applicable renewal options. The Company has not recorded any liability for renewal options in these Interim Financial Statements. The useful lives of leased assets as well as leasehold improvements, if any, are limited by the expected lease term. Operating Leases The Company’s operating lease activities primarily consist of leases for office space in the U.S., the United Kingdom and Germany. Most of these leases include options to renew, with renewal terms generally ranging from one to seven years . The exercise of lease renewal options is at the Company’s sole discretion. Certain of the Company’s operating lease agreements include variable lease costs that are based on common area maintenance and property taxes. The Company expenses these payments as incurred. The Company’s operating lease agreements do not contain any material residual value guarantees or material restrictive covenants. Supplemental balance sheet information as of March 31, 2020 for the Company’s operating leases is as follows: (in thousands) NON-CURRENT ASSETS: Right of use assets, net $ 967 Total lease assets $ 967 CURRENT LIABILITIES: Accrued expenses $ 473 NON-CURRENT LIABILITIES: Other non-current liabilities 665 Total lease liabilities $ 1,138 The Company’s operating lease cost for the three months ended March 31, 2020 was $127,000 and is included in general and administrative expenses in its condensed consolidated statement of operations. As of March 31, 2020 , a schedule of maturity of lease liabilities under all of the Company’s operating leases is as follows: Years Ending December 31 (In thousands) 2020 $ 499 2021 451 2022 152 2023 152 2024 155 Thereafter — Total 1,409 Less amount representing interest (271 ) Present value of minimum lease payments 1,138 Less current portion (473 ) Non-current portion $ 665 Cash paid for operating leases was $102,000 during the three months ended March 31, 2020 . No right of use assets were obtained in exchange for operating leases for the three months ended March 31, 2020 . As of March 31, 2020 , the weighted average remaining lease terms of the Company’s operating leases was 3.3 years . The weighted average discount rate used to determine the lease liabilities was 10.1% . Finance Leases The Company’s finance lease activities primarily consist of leases for office equipment and automobiles. Property and equipment leases are capitalized at the lesser of fair market value or the present value of the minimum lease payments at the inception of the leases using the Company’s incremental borrowing rate. The Company’s finance lease agreements do not contain any material residual value guarantees or material restrictive covenants. Supplemental balance sheet information as of March 31, 2020 and December 31, 2019 for the Company’s finance leases is as follows: March 31, 2020 December 31, 2019 (In thousands) NON-CURRENT ASSETS: Property and equipment, net $ 406 $ 414 Total lease assets $ 406 $ 414 CURRENT LIABILITIES: Finance lease obligations $ 243 $ 255 NON-CURRENT LIABILITIES: Finance lease obligations — less current portion 97 94 Total lease liabilities $ 340 $ 349 Depreciation expense associated with property and equipment under finance leases was approximately $81,000 and $76,000 for the three months ended March 31, 2020 and 2019 , respectively. Interest expense associated with finance leases was $7,000 and $9,000 for the three months ended March 31, 2020 and 2019 , respectively. As of March 31, 2020 , a schedule of maturity of lease liabilities under finance leases, together with the present value of minimum lease payments, is as follows: Years Ending December 31 (In thousands) 2020 238 2021 105 2022 20 2023 1 Total 364 Less amount representing interest (24 ) Present value of minimum lease payments 340 Less current portion (243 ) Non-current portion $ 97 Cash paid for finance leases was $82,000 during the three months ended March 31, 2020 . The Company acquired $74,000 of property and equipment in exchange for finance leases during the three months ended March 31, 2020 . As of March 31, 2020 , the weighted average remaining lease terms of the Company’s financing leases was 1.1 years . The weighted average discount rate used to determine the financing lease liabilities was 7.5% .

GOING CONCERN

GOING CONCERN	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	GOING CONCERN The accompanying Interim Financial Statements have been prepared on a going concern basis, which contemplates the realization of assets and the satisfaction of liabilities in the normal course of business. The Interim Financial Statements do not include any adjustments that might result from the outcome of this uncertainty. To date, the Company has incurred recurring losses and negative cash flow from operations and has accumulated a deficit of $388,768,000 from inception through March 31, 2020 . As of March 31, 2020 , the Company had approximately $12,242,000 in cash and cash equivalents. The Company’s ability to avoid depleting its cash depends upon its ability to maintain revenue and contain its expenses. Should the impact of COVID-19 be extended, the Company has plans in place to reduce its expenses further in the future. Further, the Company must maintain compliance with the debt covenants of its $45,000,000 Loan and Security Agreement and First Amendment dated May 1, 2020 with Solar Capital Ltd. (see Note 10). In management’s opinion, the uncertainty regarding future revenues raises substantial doubt about the Company’s ability to continue as a going concern without access to additional debt and/or equity financing over the course of the next twelve months. To meet the Company’s future working capital needs, the Company may need to raise additional debt or equity financing. While the Company has historically been able to raise additional capital through issuance of equity and/or debt financing, and while the Company has implemented a plan to control its expenses to satisfy its obligations due within one year from the date of issuance of these Interim Financial Statements, the Company cannot guarantee that it will be able to maintain debt compliance, raise additional equity, contain expenses, or increase revenue. Accordingly, there is substantial doubt about the Company’s ability to continue as a going concern within one year after these Interim Financial Statements are issued.

INVENTORY

INVENTORY	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
INVENTORY	INVENTORY Inventory consisted of the following: March 31, December 31, 2019 (In thousands) Component parts (1) $ 380 $ 389 Work-in-process (2) 220 399 Finished goods 596 602 Total Inventory $ 1,196 $ 1,390 (1) Component parts inventory consists of manufactured components of the ILUVIEN applicator. (2) Work-in-process consists of completed units of ILUVIEN that are undergoing, but have not completed, quality assurance testing or stability testing as required by U.S. or EEA regulatory authorities.

INTANGIBLE ASSET

INTANGIBLE ASSET	3 Months Ended
	Mar. 31, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]
INTANGIBLE ASSET	INTANGIBLE ASSET As a result of the approval of ILUVIEN by the U.S. Food and Drug Administration (FDA) in 2014, the Company was required to pay EyePoint a milestone payment of $25,000,000 (see Note 9). 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 approximately $484,000 and $478,000 for the three months ended March 31, 2020 and 2019 , respectively. The net book value of the intangible asset was $14,299,000 and $14,783,000 as of March 31, 2020 and December 31, 2019 , respectively. The estimated future amortization expense as of March 31, 2020 for the remaining periods in the next five years and thereafter is as follows: Years Ending December 31 (In thousands) 2020 $ 1,462 2021 1,940 2022 1,940 2023 1,940 2024 1,946 Thereafter 5,071 Total $ 14,299 Property and equipment and definite lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When indicators of impairment are present, the Company evaluates the carrying amount of such assets in relation to the operating performance and future estimated undiscounted net cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. The assessment of the recoverability of assets will be impacted if estimated future operating cash flows are not achieved. In April of 2020, as a result of the potential impact of COVID-19 on the Company’s statements of operations, the Company performed an asset impairment analysis by comparing future undiscounted cash flows of the identified asset group to the carrying value of that asset group. The Company concluded no impairment was necessary for the three months ended March 31, 2020 .

LICENSE AGREEMENTS

LICENSE AGREEMENTS	3 Months Ended
	Mar. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
LICENSE AGREEMENTS	LICENSE AGREEMENTS EyePoint Agreement In February 2005, the Company entered into an agreement with EyePoint (formerly known as pSivida US, Inc.) for the use of fluocinolone acetonide (FAc) in EyePoint’s proprietary insert technology. This agreement was subsequently amended a number of times (as amended, the EyePoint Agreement). The EyePoint Agreement provides the Company with a worldwide exclusive license to utilize certain underlying technology used in the development and commercialization of ILUVIEN. In July 2017, the Company amended and restated its license agreement with EyePoint, which was made effective July 1, 2017 (the New Collaboration Agreement). Under the New Collaboration Agreement, the Company has the right to the technology underlying ILUVIEN for the treatment of uveitis, including NIU-PS, in Europe, the Middle East and Africa. The New Collaboration Agreement converted the Company’s previous profit share obligation to a royalty payable on global net revenues of ILUVIEN. The Company began paying a 2% royalty on net revenues and other related consideration to EyePoint on July 1, 2017. The royalty amount increased to 6% effective December 12, 2018. The Company is required to pay an additional 2% royalty on global net revenues and other related consideration in excess of $75,000,000 in any year. During the three months ended March 31, 2020 and 2019 , the Company recognized approximately $581,000 and $516,000 of royalty expense, respectively, which is included in cost of goods sold, excluding depreciation and amortization. As of March 31, 2020 , approximately $581,000 of this royalty expense was included in the Company’s accounts payable. Following the signing of the New Collaboration Agreement, the Company retained a right to recover up to $15,000,000 of commercialization costs that were incurred prior to profitability of ILUVIEN and to offset a portion of future payments owed to EyePoint with these accumulated commercialization costs, referred to as the Future Offset. Due to the uncertainty of future net profits, the Company has fully reserved the Future Offset in the accompanying Interim Financial Statements. In March 2019, pursuant to the New Collaboration Agreement, the Company forgave $5,000,000 of the Future Offset in connection with the approval of ILUVIEN for NIU-PS in the U.K. As of March 31, 2020 , the balance of the Future Offset was approximately $8,567,000 .

LOAN AGREEMENTS

LOAN AGREEMENTS	3 Months Ended
	Mar. 31, 2020
Debt Disclosure [Abstract]
LOAN AGREEMENTS	LOAN AGREEMENTS Hercules Loan Agreement In April 2014, Alimera Sciences Limited (Alimera UK), a subsidiary of the Company, entered into a loan and security agreement (Hercules Loan Agreement) with Hercules Capital, Inc. (Hercules) providing for a term loan of up to $35,000,000 (Hercules Loan). The Company amended the Hercules Loan Agreement several times. On January 5, 2018, the Company paid off the Hercules Loan on behalf of Alimera UK, using the proceeds of the 2018 Solar Loan Agreement described below. 2014 Warrant In connection with Alimera UK entering into the Hercules Loan Agreement, the Company issued a warrant that granted Hercules the right to purchase up to 19,002 shares of the Company’s common stock at an exercise price of $92.10 per share (the 2014 Warrant). The Company amended the 2014 Warrant a number of times to increase the number of shares issuable upon exercise to 83,933 and decrease the exercise price to $20.85 per share. The right to exercise this warrant expires on November 2, 2020. 2016 Warrant In connection with Alimera UK entering into an amendment to the Hercules Loan Agreement on October 20, 2016, the Company agreed to issue a new warrant to Hercules (the 2016 Warrant) that granted Hercules the right to purchase up to 30,582 shares of the Company’s common stock at an exercise price of $16.35 per share. The right to exercise this warrant expires on October 20, 2021. Solar Capital Loan Agreement On January 5, 2018, the Company entered into a $40,000,000 Loan and Security Agreement (the 2018 Solar Loan Agreement) with Solar Capital Ltd. (Solar Capital), as Collateral Agent (Agent), and the parties signing the 2018 Solar Loan Agreement from time to time as Lenders, including Solar Capital in its capacity as a Lender (collectively, the Lenders). Under the 2018 Solar Loan Agreement, the Company borrowed the entire $40,000,000 as a term loan (the 2018 Solar Loan) that was scheduled to mature on July 1, 2022. The Company paid Solar Capital a $400,000 fee at the closing of the 2018 Solar Loan Agreement. The Company repaid the 2018 Solar Loan on December 31, 2019 with a new loan agreement with Solar Capital as described below. The Company used the proceeds of the 2018 Solar Loan to extinguish (prepay) the Hercules Loan Agreement and pay related expenses. The Company used the remaining loan proceeds to provide additional working capital for general corporate purposes. Interest on the 2018 Solar Loan was payable at one-month LIBOR plus 7.65% per annum. The 2018 Solar Loan Agreement provided for interest only payments through the date of repayment. As of the final interest payment on the 2018 Solar Loan, the interest rate was approximately 9.3% . The Company agreed, for itself and its subsidiaries, to customary affirmative and negative covenants and events of default in connection with the 2018 Solar Loan Agreement. 2018 Exit Fee Agreement Notwithstanding the repayment of the 2018 Solar Loan, the Company remains obligated to pay additional fees under the Exit Fee Agreement (2018 Exit Fee Agreement) dated as of January 5, 2018 by and among the Company, Solar Capital as Agent, and the Lenders. The 2018 Exit Fee Agreement survived the termination of the 2018 Solar Loan Agreement upon the repayment of the 2018 Solar Loan and has a term of 10 years. The Company is obligated to pay up to, but no more than, $2,000,000 in fees under the 2018 Exit Fee Agreement. 2019 Solar Capital Loan Agreement On December 31, 2019, the Company entered into a $45,000,000 Loan and Security Agreement (the 2019 Solar Loan Agreement) with Solar Capital, as Agent, and the parties signing the 2019 Solar Loan Agreement from time to time as Lenders, including Solar Capital in its capacity as a Lender (collectively, the Lenders). Under the 2019 Solar Loan Agreement, the Company borrowed $42,500,000 on December 31, 2019 and subsequent to December 31, 2019, the Company borrowed the remaining $2,500,000 on February 21, 2020 (the two borrowings totaling $45,000,000 are referred to as the 2019 Solar Loan). The 2019 Solar Loan matures on July 1, 2024. As noted above, the Company used the initial proceeds of the 2019 Solar Loan to pay off the 2018 Solar Loan, along with related prepayment, legal and other fees and expenses of approximately $2,278,000 , which included a $1.8 million fee to Solar Capital upon repayment of the 2018 Solar Loan that was previously accrued and a $400,000 prepayment fee to Solar Capital that was capitalized as deferred financing costs. The Company expects to use the remaining loan proceeds to provide additional working capital for general corporate purposes. Interest on the 2019 Solar Loan is payable at the greater of (i) one-month LIBOR or (ii) 1.78% , plus 7.65% per annum. As of December 31, 2019, the 2019 Solar Loan’s interest rate is 9.43% . The 2019 Solar Loan provides for interest only payments until January 1, 2023. If the Company meets certain revenue thresholds and no event of default shall have occurred and is continuing, the Company can extend the interest only period an additional six months , ending on June 30, 2023, followed by one year of monthly payments of principal and interest. The Company paid the Lenders a non-refundable facility fee in the amount of $25,000 on February 21, 2020. In addition, the Company is obligated to pay a $2,250,000 fee upon repayment of the 2019 Solar Loan. First Amendment to 2019 Solar Capital Loan Agreement On May 1, 2020, the Company entered into a First Amendment (the Amendment) to its 2019 Solar Loan Agreement with Solar Capital. The Amendment, among other things: (a) eliminates the previous requirement that the following covenant (the Revenue Covenant) be measured at June 30, 2020 and September 30, 2020: the Company shall not permit revenues (under U.S. GAAP) from the sale of ILUVIEN in the ordinary course of business to third party customers, on a trailing six-month basis, to be less than a specified minimum revenue amount for each such date; (b) requires that the Revenue Covenant be measured at November 30, 2020 and specifies a new minimum revenue amount in that regard; (c) requires that the Revenue Covenant be measured at December 31, 2020 and specifies a new minimum revenue amount in that regard; and (d) requires that the Revenue Covenant be measured at March 31, 2021 and at the last day of each quarter thereafter, with the minimum revenue amount equal to a percentage of the Company’s projected revenues in accordance with an annual plan submitted by the Company to Agent by January 15th of such year, such plan to be approved by the Company’s board of directors and Agent in its sole discretion. The Amendment also adds the following new minimum liquidity requirement that is in effect from May 1, 2020 until the Company notifies Agent that it has met the Revenue Covenant at November 30, 2020: the Company shall not permit the aggregate amount of unrestricted cash and cash equivalents to be less than the sum of (i) $8,500,000 plus (ii) the amount of the Company’s accounts payable that have not been paid within 90 days from the invoice date of the relevant account payable. We paid no fees to Solar Capital; however, we agreed to reimburse Agent for its legal fees. Modification of Debt In accordance with the guidance in ASC 470-50, Debt , the Company entered into and accounted for the 2019 Solar Loan Agreement as a modification and capitalized approximately $427,000 of costs as additional deferred financing costs and expensed approximately $76,000 of costs incurred with third parties within the consolidated statements of operations for the year ended December 31, 2019. 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 March 31, 2020 and December 31, 2019 .

EARNINGS (LOSS) PER SHARE (EPS)

EARNINGS (LOSS) PER SHARE (EPS)	3 Months Ended
	Mar. 31, 2020
Earnings Per Share [Abstract]
EARNINGS (LOSS) PER SHARE (EPS)	EARNINGS (LOSS) PER SHARE (EPS) The Company follows ASC 260, Earnings Per Share (ASC 260), which requires the reporting of both basic and diluted earnings per share. Because the Company’s preferred stockholders participate in dividends equally with common stockholders (if the Company were to declare and pay dividends), the Company uses the two-class method to calculate EPS. However, the Company’s preferred stockholders are not contractually obligated to share in losses. Basic EPS is computed by dividing net income (loss) available to stockholders by the weighted average number of shares outstanding for the period. Diluted EPS is calculated in accordance with ASC 260 by adjusting weighted average shares outstanding for the dilutive effect of common stock options, restricted stock units and warrants. 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 they were either classified as participating or would have been anti-dilutive, were as follows: Three Months Ended 2020 2019 Series A convertible preferred stock 601,504 601,504 Series C convertible preferred stock 676,667 676,667 Common stock warrants 119,712 119,712 Stock options 1,036,484 894,097 Restricted stock units 30,086 32,029 Total 2,464,453 2,324,009

STOCK INCENTIVE PLANS

STOCK INCENTIVE PLANS	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
STOCK INCENTIVE PLANS	STOCK INCENTIVE PLANS Stock Option Plans During the three months ended March 31, 2020 and 2019 , the Company recorded compensation expense related to stock options of approximately $292,000 and $545,000 , respectively. As of March 31, 2020 , the total unrecognized compensation cost related to non-vested stock options granted was $2,200,000 and is expected to be recognized over a weighted average period of 2.63 years . The following table presents a summary of stock option activity for the three months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 2019 Options Weighted Options Weighted Options outstanding at beginning of period 871,472 35.46 830,100 39.41 Grants 168,850 6.75 78,324 13.10 Forfeitures (3,838 ) 20.99 (14,318 ) 29.92 Exercises — — — — Options outstanding at period end 1,036,484 30.84 894,106 37.25 Options exercisable at period end 707,763 40.00 636,028 45.22 Weighted average per share fair value of options granted during the period $4.18 $8.21 The following table provides additional information related to outstanding stock options, exercisable stock options and stock options that were expected to vest as of March 31, 2020 : Shares Weighted Average Exercise Price ($) Weighted Average Remaining Contractual Term Aggregate Intrinsic Value ($) (In thousands) Outstanding 1,036,484 30.84 4.97 years 9 Exercisable 707,763 40.00 4.97 years 9 Outstanding, vested and expected to vest 989,943 31.83 6.12 years 99 The following table provides additional information related to outstanding stock options, exercisable stock options and stock options that were expected to vest as of December 31, 2019 : Shares Weighted Average Exercise Price ($) Weighted Average Remaining Contractual Term Aggregate Intrinsic Value ($) (In thousands) Outstanding 871,472 35.46 5.83 years 4,043 Exercisable 674,952 41.25 5.04 years 13 Outstanding, vested and expected to vest 849,285 36.00 5.75 years 3,324 As of March 31, 2020 , 265,625 shares remain available for grant under the 2019 Omnibus Incentive Plan. Employee Stock Purchase Plan During the three months ended March 31, 2020 and 2019 , the Company recorded compensation expense related to its employee stock purchase plan of approximately $21,000 and $6,000 , respectively. Restricted Stock and Restricted Stock Units A summary of restricted stock and restricted stock units (RSU) transactions under the plans are as follows: Three Months Ended March 31, 2020 2019 Restricted Stock & RSUs Weighted Average Grant Date Fair Value ($) Restricted Stock & RSUs Weighted Average Grant Date Fair Value ($) Restricted stock & RSUs outstanding at beginning of period 36,763 13.15 60,041 17.30 Grants 30,086 3.12 32,029 12.90 Vested units (36,763 ) 13.15 (59,341 ) 17.30 Forfeitures — — (700 ) 17.40 Restricted stock & RSUs outstanding at period end 30,086 3.12 32,029 12.90 As of December 31, 2019 , there was approximately $123,000 of total unrecognized compensation cost related to outstanding RSUs that was recognized during the first quarter of 2020. Employee stock-based compensation expense related to restricted stock and RSUs recognized in accordance with ASC 718, Compensation - Stock Compensation (ASC 718) was $127,000 and $219,000 for the three months ended March 31, 2020 and 2019 , respectively.

INCOME TAXES

INCOME TAXES	3 Months Ended
	Mar. 31, 2020
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 also applies the provisions for income taxes related to, among other things, accounting for uncertain tax positions and disclosure requirements. The Company’s recorded liability for uncertain tax positions as of March 31, 2020 has increased by approximately $8,000 as compared to December 31, 2019 . There has been no change to the Company’s policy that recognizes potential interest and penalties related to uncertain tax positions. The Company conducts business globally and, as a result, files income tax returns in the U.S. federal jurisdiction and various state and foreign jurisdictions. In the normal course of business, the Company is subject to examination by taxing authorities throughout the world. On March 27, 2020, the Coronavirus Aid, Relief and Economic Security (“CARES”) Act was enacted and signed into law. In addition to other provisions, the CARES Act contains modifications to Net Operating Loss (NOL) carryback rules. For the three months ended March 31, 2020 , there was no impact to the tax provision related to the CARES Act. We are currently evaluating the provisions of the CARES Act and how other elections may impact our financial position, results of operations, and disclosures, if needed. At December 31, 2019 , the Company had U.S. federal NOL carry-forwards of approximately $125,756,000 and state NOL carry-forwards of approximately $172,993,000 available to reduce future taxable income. The Company’s U.S. federal NOL carry-forwards remain fully reserved as of March 31, 2020 . Except for the NOLs generated after 2017, the U.S. federal NOLs not fully utilized will expire at various dates between 2029 and 2037; most state NOL carry-forwards will expire at various dates between 2020 and 2039. Under the Tax Cuts and Jobs Act of 2017, U.S. federal NOLs and some state NOLs generated after 2017 will carryforward indefinitely. As of December 31, 2019 , the Company had cumulative book losses in foreign subsidiaries of $134,379,000 . 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.

SEGMENT INFORMATION

SEGMENT INFORMATION	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
SEGMENT INFORMATION	SEGMENT INFORMATION During the three months ended March 31, 2020 and 2019 , two customers within the U.S. segment that are large pharmaceutical distributors accounted for 49% and 52% , respectively, of the Company’s consolidated revenues. These same two customers within the U.S. segment accounted for approximately 65% and 68% of the Company’s consolidated accounts receivable at March 31, 2020 and at December 31, 2019 , respectively. The Company’s chief operating decision maker is the Chief Executive Officer (CEO). While the CEO is apprised of a variety of financial metrics and information, the business is principally managed and organized based upon geographic and regulatory environment. Each segment is separately managed and is evaluated primarily upon segment loss from operations. Non-cash items including stock-based compensation expense and depreciation and amortization are categorized as Other within the table below. The Company does not report balance sheet information by segment because the Company’s chief operating decision maker does not review that information. The following table presents a summary of the Company’s reporting segments for the three months ended March 31, 2020 and 2019 : Three Months Ended Three Months Ended U.S. International Other Consolidated U.S. International Other Consolidated (In thousands) NET REVENUE $ 7,068 $ 7,467 $ — $ 14,535 $ 6,766 $ 6,124 $ — $ 12,890 COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION (759 ) (1,168 ) — (1,927 ) (685 ) (915 ) — (1,600 ) GROSS PROFIT 6,309 6,299 — 12,608 6,081 5,209 — 11,290 RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES 1,922 893 68 2,883 1,427 1,170 130 2,727 GENERAL AND ADMINISTRATIVE EXPENSES 1,973 936 272 3,181 1,933 988 472 3,393 SALES AND MARKETING EXPENSES 4,280 1,292 100 5,672 4,041 1,705 167 5,913 DEPRECIATION AND AMORTIZATION — — 654 654 — — 652 652 OPERATING EXPENSES 8,175 3,121 1,094 12,390 7,401 3,863 1,421 12,685 SEGMENT (LOSS) INCOME FROM OPERATIONS (1,866 ) 3,178 (1,094 ) 218 (1,320 ) 1,346 (1,421 ) (1,395 ) OTHER INCOME AND EXPENSES, NET — — (1,373 ) (1,373 ) — — (1,297 ) (1,297 ) NET LOSS BEFORE TAXES $ (1,155 ) $ (2,692 )

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS $1.8 Million Loan under the Paycheck Protection Program As we announced on April 23, 2020, the Company received on April 22, 2020 approximately $1.8 million in support in the form of a loan (the “PPP Loan”) from the U.S. federal government under the Paycheck Protection Program established as part of the Coronavirus Aid, Relief and Economic Security Act, or the CARES Act. The PPP Loan is unsecured and is evidenced by a note (the “Note”) in favor of HSBC Bank USA, National Association (“HSBC”) as the lender and is governed by a Loan Agreement with HSBC. The interest rate on the Note is 1.0% per annum. Payments of principal and interest are deferred for 180 days from the date of the Note. The Paycheck Protection Program provides a mechanism for forgiveness of up to the full amount borrowed as long as the Company uses the loan proceeds during the eight-week period after the loan origination for eligible purposes as described in the CARES Act and related guidance. In connection with the PPP Loan, the Company entered into a Consent to Loan and Security Agreement (the “Consent”) under the 2019 Solar Loan Agreement. In the Consent, Solar Capital consented as Collateral Agent and a Lender, and the other Lenders consented as Lenders, to the indebtedness incurred under the PPP Loan, subject to certain conditions, including the Company’s covenant to comply with specified provisions of the CARES Act, the Company’s confirmation of the accuracy of its representations and warranties in the 2019 Solar Loan Agreement and related documents and a release in favor of the Collateral Agent and the Lenders. German Withholding Tax In April 2020, recent interpretations of a German law relating to withholding taxes on intellectual property rights have emerged. The Company is currently evaluating this law and any related impact to its financial position or results of operations. First Amendment to 2019 Solar Capital Loan Agreement On May 1, 2020, the Company entered into a First Amendment to its 2019 Solar Loan Agreement. (See Note 10 above for expanded disclosures.)

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - (Policies)	3 Months Ended
	Mar. 31, 2020
Accounting Policies [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 with the instructions to Form 10-Q and Article 8-03 of Regulation S-X of the Securities and Exchange Commission (SEC). Accordingly, these Interim Financial Statements 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, 2019 and related notes included in the Company’s Annual Report on Form 10-K, which was filed with the SEC on March 2, 2020. The financial results for any interim period are not necessarily indicative of the expected financial results for the full year.
Recent Accounting Pronouncements and Adoption of New Accounting Standards	Accounting Standards Issued but Not Yet Effective In June 2016, the Financial Accounting Standards Board (FASB) issued Accounting Standards Update (ASU) No. 2016-13, Financial Instruments - Credit Losses (Accounting Standards Codification (ASC 326)): Measurement of Credit Losses on Financial Instruments . This ASU replaces the current incurred loss impairment methodology for financial assets measured at amortized cost with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information, including forecasted information, to develop credit loss estimates. The standard becomes effective for the Company on January 1, 2023. The Company does not anticipate the adoption of this ASU will have a material impact on its financial statements.
Revenue Recognition	Net Revenue The Company sells its products to major pharmaceutical distributors, pharmacies, hospitals and wholesalers (collectively, its Customers). In addition to distribution agreements with Customers, the Company enters into arrangements with healthcare providers and payors that provide for government-mandated and/or privately-negotiated rebates, chargebacks, and discounts with respect to the purchase of the Company’s products. All of the Company’s current contracts have a single performance obligation, as the promise to transfer the individual goods is not separately identifiable from other promises in the contracts and is, therefore, not distinct. All of the Company’s revenue is derived from product sales. The Company recognizes revenues from product sales at a point in time when the Customer obtains control, typically upon delivery. The Company accrues for fulfillment costs when the related revenue is recognized. Taxes collected from Customers relating to product sales and remitted to governmental authorities are excluded from revenues. As of March 31, 2020 , the Company had received a total of $1,000,000 of milestone payments in connection with the Company’s Canadian distributor that it has not recognized as revenue based on the Company’s analysis in connection with ASU 2014-09, Revenue from Contracts with Customers (ASC 606) . These deferred revenues are included as a component of other non-current liabilities on the Company’s balance sheets. Estimates of Variable Consideration Revenues from product sales are recorded at the net sales price (transaction price), which includes estimates of variable consideration for reserves related to statutory rebates to State Medicaid and other government agencies; commercial rebates and fees to Managed Care Organizations (MCOs), Group Purchasing Organizations (GPOs), distributors, and specialty pharmacies; product returns; sales discounts (including trade discounts); distributor costs; wholesaler chargebacks; and allowances for patient assistance programs relating to the Company’s sales of its products. These reserves are based on estimates of the amounts earned or to be claimed on the related sales. Management’s estimates take into consideration historical experience, current contractual and statutory requirements, specific known market events and trends, industry data, and Customer buying and payment patterns. Overall, these reserves reflect the Company’s best estimates of the amount of consideration to which it is entitled based on the terms of the contract. The amount of variable consideration included in the net sales price is limited to the amount that is probable not to result in a significant reversal in the amount of the cumulative revenue recognized in a future period. If actual results vary, the Company may adjust these estimates, which could have an effect on earnings in the period of adjustment. With respect to the Company’s international contracts with third party distributors, certain contracts have elements of variable consideration, and management reviews those contracts on a regular basis and makes estimates of revenue based on historical ordering patterns and known market events and data. The amount of variable consideration included in net sales in each period could vary depending on the terms of these contracts and the probability of reversal in future periods. Consideration Payable to Customers Distribution service fees are payments issued to distributors for compliance with various contractually-defined inventory management practices or services provided to support patient access to a product. Distribution service fees reserves are based on the terms of each individual contract and are classified within accrued expenses and are recorded as a reduction of revenue. Product Returns The Company’s policies provide for product returns in the following circumstances: (a) expiration of shelf life on certain products; (b) product damaged while in the Customer’s possession; and (c) following product recalls. Generally, returns for expired product are accepted three months before and up to one year after the expiration date of the related product, and the related product is destroyed after it is returned. The Company may either refund the sales price paid by the Customer by issuing a credit or exchanging the returned product for replacement inventory. The Company typically does not provide cash refunds. The Company estimates the proportion of recorded revenue that will result in a return by considering relevant factors, including historical returns experience, the estimated level of inventory in the distribution channel, the shelf life of products and product recalls, if any. The estimation process for product returns involves, in each case, several interrelating assumptions, which vary for each Customer. The Company estimates the amount of its product sales that may be returned by its Customers and records this estimate as a reduction of revenue from product sales in the period the related revenue is recognized, and because this returned product cannot be resold, there is no corresponding asset for product returns. To date, product returns have been minimal. Other Revenue The Company enters into agreements in which it licenses certain rights to its products to partner companies that act as distributors. The terms of these arrangements may include payment to the Company of one or more of the following: non-refundable, up-front license fees; development, regulatory and commercial milestone payments; payments for manufacturing supply services the Company provides; and a revenue share on net sales of licensed products. Each of these payments is recognized as other revenues. As part of the accounting for these arrangements, the Company must develop estimates that require judgment to determine the stand-alone selling price for each performance obligation identified in the contract. Performance obligations are promises in a contract to transfer a distinct good or service to the Customer, and the Company recognizes revenue when, or as, performance obligations are satisfied. The Company uses key assumptions to determine the stand-alone selling price; these assumptions may include forecasted revenues, development timelines, reimbursement rates for personnel costs, discount rates and probabilities of technical, regulatory and commercial success. Certain of these agreements include consideration in the form of milestone payments. At the inception of each arrangement that includes milestone payments, the Company evaluates the recognition of milestone payments. Typically, milestone payments are associated with events that are not entirely within the control of the Company or the licensee, such as regulatory approvals; are included in the transaction price; and are subject to a constraint until it is probable that there will not be a significant revenue reversal, typically upon achievement of the milestone. At the end of each reporting period, the Company re-evaluates the probability of achievement of such milestones and any related constraint, and if necessary, adjusts its estimate of the overall transaction price. Customer Payment Obligations The Company receives payments from its Customers based on billing schedules established in each contract, which vary across the Company’s locations, but generally range between 30 to 120 days. Occasionally, the timing of receipt of payment for the Company’s international Customers can be extended. Amounts are recorded as accounts receivable when the Company’s right to consideration is unconditional. The Company does not assess whether a contract has a significant financing component if the expectation is that the Customer will pay for the product or services in one year or less of receiving those products or services.
Leases	The Company evaluates all of its contracts to determine whether it is or contains a lease at inception. The Company reviews its contracts for options to extend, terminate or purchase any right of use assets and accounts for these, as applicable, at inception of the contract. Lease renewal options are not recognized as part of the lease liability until the Company determines it is reasonably certain it will exercise any applicable renewal options. The Company has not recorded any liability for renewal options in these Interim Financial Statements. The useful lives of leased assets as well as leasehold improvements, if any, are limited by the expected lease term.
Intangible Assets	Property and equipment and definite lived intangible assets are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. When indicators of impairment are present, the Company evaluates the carrying amount of such assets in relation to the operating performance and future estimated undiscounted net cash flows expected to be generated by the assets. If such assets are considered to be impaired, the impairment to be recognized is measured by the amount by which the carrying amount of the assets exceeds the fair value of the assets. The assessment of the recoverability of assets will be impacted if estimated future operating cash flows are not achieved.

LEASES - (Tables)

LEASES - (Tables)	3 Months Ended
	Mar. 31, 2020
Leases [Abstract]
Summary of Supplemental Balance Sheet Lease Information	Supplemental balance sheet information as of March 31, 2020 and December 31, 2019 for the Company’s finance leases is as follows: March 31, 2020 December 31, 2019 (In thousands) NON-CURRENT ASSETS: Property and equipment, net $ 406 $ 414 Total lease assets $ 406 $ 414 CURRENT LIABILITIES: Finance lease obligations $ 243 $ 255 NON-CURRENT LIABILITIES: Finance lease obligations — less current portion 97 94 Total lease liabilities $ 340 $ 349 Supplemental balance sheet information as of March 31, 2020 for the Company’s operating leases is as follows: (in thousands) NON-CURRENT ASSETS: Right of use assets, net $ 967 Total lease assets $ 967 CURRENT LIABILITIES: Accrued expenses $ 473 NON-CURRENT LIABILITIES: Other non-current liabilities 665 Total lease liabilities $ 1,138
Schedule of Future Minimum Operating Lease Payments	As of March 31, 2020 , a schedule of maturity of lease liabilities under all of the Company’s operating leases is as follows: Years Ending December 31 (In thousands) 2020 $ 499 2021 451 2022 152 2023 152 2024 155 Thereafter — Total 1,409 Less amount representing interest (271 ) Present value of minimum lease payments 1,138 Less current portion (473 ) Non-current portion $ 665
Schedule of Future Minimun Finance Lease Payments	As of March 31, 2020 , a schedule of maturity of lease liabilities under finance leases, together with the present value of minimum lease payments, is as follows: Years Ending December 31 (In thousands) 2020 238 2021 105 2022 20 2023 1 Total 364 Less amount representing interest (24 ) Present value of minimum lease payments 340 Less current portion (243 ) Non-current portion $ 97

INVENTORY - (Tables)

INVENTORY - (Tables)	3 Months Ended
	Mar. 31, 2020
Inventory Disclosure [Abstract]
Schedule of Inventory	Inventory consisted of the following: March 31, December 31, 2019 (In thousands) Component parts (1) $ 380 $ 389 Work-in-process (2) 220 399 Finished goods 596 602 Total Inventory $ 1,196 $ 1,390 (1) Component parts inventory consists of manufactured components of the ILUVIEN applicator. (2) Work-in-process consists of completed units of ILUVIEN that are undergoing, but have not completed, quality assurance testing or stability testing as required by U.S. or EEA regulatory authorities.

INTANGIBLE ASSET - (Tables)

INTANGIBLE ASSET - (Tables)	3 Months Ended
	Mar. 31, 2020
Intangible Assets, Net (Excluding Goodwill) [Abstract]
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The estimated future amortization expense as of March 31, 2020 for the remaining periods in the next five years and thereafter is as follows: Years Ending December 31 (In thousands) 2020 $ 1,462 2021 1,940 2022 1,940 2023 1,940 2024 1,946 Thereafter 5,071 Total $ 14,299

EARNINGS (LOSS) PER SHARE (EP_2

EARNINGS (LOSS) PER SHARE (EPS) - (Tables)	3 Months Ended
	Mar. 31, 2020
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 they were either classified as participating or would have been anti-dilutive, were as follows: Three Months Ended 2020 2019 Series A convertible preferred stock 601,504 601,504 Series C convertible preferred stock 676,667 676,667 Common stock warrants 119,712 119,712 Stock options 1,036,484 894,097 Restricted stock units 30,086 32,029 Total 2,464,453 2,324,009

STOCK INCENTIVE PLANS - (Tables

STOCK INCENTIVE PLANS - (Tables)	3 Months Ended
	Mar. 31, 2020
Share-based Payment Arrangement [Abstract]
Summary of Stock Option Transactions	The following table presents a summary of stock option activity for the three months ended March 31, 2020 and 2019 : Three Months Ended March 31, 2020 2019 Options Weighted Options Weighted Options outstanding at beginning of period 871,472 35.46 830,100 39.41 Grants 168,850 6.75 78,324 13.10 Forfeitures (3,838 ) 20.99 (14,318 ) 29.92 Exercises — — — — Options outstanding at period end 1,036,484 30.84 894,106 37.25 Options exercisable at period end 707,763 40.00 636,028 45.22 Weighted average per share fair value of options granted during the period $4.18 $8.21
Summary of Additional Stock Option Transactions	The following table provides additional information related to outstanding stock options, exercisable stock options and stock options that were expected to vest as of March 31, 2020 : Shares Weighted Average Exercise Price ($) Weighted Average Remaining Contractual Term Aggregate Intrinsic Value ($) (In thousands) Outstanding 1,036,484 30.84 4.97 years 9 Exercisable 707,763 40.00 4.97 years 9 Outstanding, vested and expected to vest 989,943 31.83 6.12 years 99 The following table provides additional information related to outstanding stock options, exercisable stock options and stock options that were expected to vest as of December 31, 2019 : Shares Weighted Average Exercise Price ($) Weighted Average Remaining Contractual Term Aggregate Intrinsic Value ($) (In thousands) Outstanding 871,472 35.46 5.83 years 4,043 Exercisable 674,952 41.25 5.04 years 13 Outstanding, vested and expected to vest 849,285 36.00 5.75 years 3,324
Summary of Restricted Stock Unit Transactions	A summary of restricted stock and restricted stock units (RSU) transactions under the plans are as follows: Three Months Ended March 31, 2020 2019 Restricted Stock & RSUs Weighted Average Grant Date Fair Value ($) Restricted Stock & RSUs Weighted Average Grant Date Fair Value ($) Restricted stock & RSUs outstanding at beginning of period 36,763 13.15 60,041 17.30 Grants 30,086 3.12 32,029 12.90 Vested units (36,763 ) 13.15 (59,341 ) 17.30 Forfeitures — — (700 ) 17.40 Restricted stock & RSUs outstanding at period end 30,086 3.12 32,029 12.90

SEGMENT INFORMATION - (Tables)

SEGMENT INFORMATION - (Tables)	3 Months Ended
	Mar. 31, 2020
Segment Reporting [Abstract]
Schedule of Reporting Segments	The following table presents a summary of the Company’s reporting segments for the three months ended March 31, 2020 and 2019 : Three Months Ended Three Months Ended U.S. International Other Consolidated U.S. International Other Consolidated (In thousands) NET REVENUE $ 7,068 $ 7,467 $ — $ 14,535 $ 6,766 $ 6,124 $ — $ 12,890 COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION (759 ) (1,168 ) — (1,927 ) (685 ) (915 ) — (1,600 ) GROSS PROFIT 6,309 6,299 — 12,608 6,081 5,209 — 11,290 RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES 1,922 893 68 2,883 1,427 1,170 130 2,727 GENERAL AND ADMINISTRATIVE EXPENSES 1,973 936 272 3,181 1,933 988 472 3,393 SALES AND MARKETING EXPENSES 4,280 1,292 100 5,672 4,041 1,705 167 5,913 DEPRECIATION AND AMORTIZATION — — 654 654 — — 652 652 OPERATING EXPENSES 8,175 3,121 1,094 12,390 7,401 3,863 1,421 12,685 SEGMENT (LOSS) INCOME FROM OPERATIONS (1,866 ) 3,178 (1,094 ) 218 (1,320 ) 1,346 (1,421 ) (1,395 ) OTHER INCOME AND EXPENSES, NET — — (1,373 ) (1,373 ) — — (1,297 ) (1,297 ) NET LOSS BEFORE TAXES $ (1,155 ) $ (2,692 )

NATURE OF OPERATIONS - Narrativ

NATURE OF OPERATIONS - Narrative (Detail) - ILUVIEN	Mar. 31, 2020country
Nature Of Operations [Line Items]
Number of countries in which product is indicated for the treatment of vision impairment associated with chronic DME considered insufficiently responsive to available therapies	17
Number of countries in which product is indicated for prevention of relapse in recurrent non-infectious uveitis affecting the posterior segment of the eye	16

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	Nov. 14, 2019
Accounting Policies [Abstract]
Reverse stock split conversion ratio	0.0667

REVENUE RECOGNITION - Narrative

REVENUE RECOGNITION - Narrative (Details) $ in Millions	3 Months Ended
	Mar. 31, 2020USD ($)
Revenue from Contract with Customer [Abstract]
Milestone payments not recognized as revenue, noncurrent	$ 1
Period before expiration date returns are accepted	3 months
Period after expiration date returns are accepted	1 year
Performance obligation, description of satisfaction timing	The Company receives payments from its Customers based on billing schedules established in each contract, which vary across the Company’s locations, but generally range between 30 to 120 days.

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($)	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Lessee, Lease, Description [Line Items]
Operating lease cost	$ 127,000
Cash paid for leases	102,000
Right-of-use asset obtained in exchange for operating lease liability	$ 0
Weighted average remaining lease term	3 years 3 months
Weighted average discount rate, leases	10.10%
Finance lease depreciation	$ 81,000	$ 76,000
Finance lease cost	7,000	9,000
Finance lease, interest payment on liability and principal payments	82,000
Property and equipment acquired under finance leases	$ 74,000	$ 64,000
Finance lease, weighted average remaining term	1 year 1 month
Finance lease, weighted average discount rate	7.50%
Minimum
Lessee, Lease, Description [Line Items]
Lease renewal term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Lease renewal term	7 years

LEASES - Operating Lease Supple

LEASES - Operating Lease Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
NON-CURRENT ASSETS:
Operating lease, right-of-use asset	$ 967	$ 1,107
CURRENT LIABILITIES:
Operating lease liability, current	473
NON-CURRENT LIABILITIES:
Operating lease liability, noncurrent	665
Total operating lease liabilities	$ 1,138

LEASES - Future Minimum Operati

LEASES - Future Minimum Operating Lease Payments (Details) $ in Thousands	Mar. 31, 2020USD ($)
Leases [Abstract]
2020	$ 499
2021	451
2022	152
2023	152
2024	155
Thereafter	0
Total	1,409
Less amount representing interest	(271)
Total operating lease liabilities	1,138
Operating lease liability, current	(473)
Non-current portion	$ 665

LEASES - Finance Lease Suppleme

LEASES - Finance Lease Supplemental Balance Sheet Information (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
NON-CURRENT ASSETS:
Finance lease, right-of-use asset	$ 406	$ 414
CURRENT LIABILITIES:
Finance lease obligations	243	255
NON-CURRENT LIABILITIES:
Finance lease obligations — less current portion	97	94
Total finance lease liabilities	$ 340	$ 349

LEASES - Future Minimum Finance

LEASES - Future Minimum Finance Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Leases [Abstract]
2019 (remaining)	$ 238
2021	105
2022	20
2023	1
Total	364
Less amount representing interest	(24)
Total finance lease liabilities	340	$ 349
Less current portion	(243)	(255)
Non-current portion	$ 97	$ 94

GOING CONCERN - Narrative (Deta

GOING CONCERN - Narrative (Detail) - USD ($)	Mar. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Accumulated deficit	$ 388,768,000	$ 387,570,000
Cash and cash equivalents	$ 12,242,000	9,426,000
2019 Solar Loan Agreement | Solar Capital
Debt Instrument [Line Items]
Debt instrument, face amount		$ 45,000,000

INVENTORY - Narrative (Detail)

INVENTORY - Narrative (Detail) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Inventory
Component parts	$ 380	$ 389
Work-in-process	220	399
Finished goods	596	602
Total Inventory	$ 1,196	$ 1,390

INTANGIBLE ASSET - Narrative (D

INTANGIBLE ASSET - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2014	Dec. 31, 2019
Finite-Lived Intangible Assets [Line Items]
Net intangible assets	$ 14,299			$ 14,783
License
Finite-Lived Intangible Assets [Line Items]
Gross intangible assets	$ 25,000
Useful life (in years)	13 years
Amortization of intangible assets	$ 484	$ 478
Net intangible assets	$ 14,299
pSivida
Finite-Lived Intangible Assets [Line Items]
Milestone payment after the first product approved by the FDA			$ 25,000

INTANGIBLE ASSET - Future Amort

INTANGIBLE ASSET - Future Amortization (Details) - USD ($) $ in Thousands	Mar. 31, 2020	Dec. 31, 2019
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
Total	$ 14,299	$ 14,783
License
Finite-Lived Intangible Assets, Amortization Expense, Maturity Schedule [Abstract]
2020	1,462
2021	1,940
2022	1,940
2023	1,940
2024	1,946
Thereafter	5,071
Total	$ 14,299

LICENSE AGREEMENTS - Narrative

LICENSE AGREEMENTS - Narrative (Details) - USD ($)	Dec. 12, 2018	Jul. 10, 2017	Jul. 01, 2017	Mar. 31, 2019	Mar. 31, 2020	Mar. 31, 2019
Collaborative Arrangement, Co-promotion
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Collaborative arrangement, royalty payable on net revenue, percentage	6.00%		2.00%
Collaborative arrangement, royalty payable on net revenue over threshold, percentage		2.00%
Collaborative arrangement, royalty payable on net revenue, revenue threshold		$ 75,000,000
Collaborative arrangement, forgiveness of future offset, additional amount				$ 5,000,000
New Collaboration Agreement, 2017 Second Amended
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Royalty expense					$ 581,000	$ 516,000
Accrued royalty expense					581,000
Maximum | Collaborative Arrangement, Co-promotion
Collaborative Arrangement and Arrangement Other than Collaborative [Line Items]
Recoverable amount to offset future royalty payments		$ 15,000,000			$ 8,567,000

LOAN AGREEMENTS - Hercules Loan

LOAN AGREEMENTS - Hercules Loan Agreement Narrative (Details)	Apr. 30, 2014USD ($)
Alimera Sciences Limited (Limited) | Hercules Technology Growth Capital, Inc. | 2014 Term Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity	$ 35,000,000

LOAN AGREEMENTS - 2014 Warrant

LOAN AGREEMENTS - 2014 Warrant Narrative (Details) - Alimera Sciences, Inc.(Company) - Hercules Technology Growth Capital, Inc. - $ / shares	Mar. 31, 2020	Apr. 30, 2014
2014 Term Loan
Debt Instrument [Line Items]
Class of warrant or right, number of securities called by warrants or rights (in shares)		19,002
Class of warrant or right, exercise price of warrants or rights (usd per share)		$ 92.10
July 2016 Waiver
Debt Instrument [Line Items]
Class of warrant or right, number of securities called by warrants or rights (in shares)	83,933
Class of warrant or right, exercise price of warrants or rights (usd per share)	$ 20.85

LOAN AGREEMENTS - 2016 Warrant

LOAN AGREEMENTS - 2016 Warrant Narrative (Details) - Alimera Sciences Limited (Limited) - Hercules Technology Growth Capital, Inc. - Fourth Loan Amendment	Oct. 20, 2016$ / sharesshares
Debt Instrument [Line Items]
Class of warrant or right, number of securities called by warrants or rights (in shares) | shares	30,582
Class of warrant or right, exercise price of warrants or rights (usd per share) | $ / shares	$ 16.35

LOAN AGREEMENTS - Solar Capital

LOAN AGREEMENTS - Solar Capital Loan Agreement Narrative (Details) - Solar Capital Ltd. - USD ($)	Feb. 21, 2020	Dec. 31, 2019	Jan. 05, 2018	Feb. 21, 2020	Dec. 31, 2019	Nov. 30, 2020	Mar. 31, 2020	Dec. 31, 2018
2018 Term Loan
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity			$ 40,000,000
Payments for brokerage fees			$ 400,000
Fees paid on modification		$ 2,278,000
Debt instrument repayment fee amount, paid		1,800,000
Debit instrument prepayment fee paid		400,000
Debt issuance costs, net		427,000			$ 427,000
Amortization of debt issuance costs					76,000
2018 Term Loan | London Interbank Offered Rate (LIBOR)
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate			7.65%
2019 Solar Loan Agreement
Debt Instrument [Line Items]
Line of credit facility, maximum borrowing capacity		$ 45,000,000			$ 45,000,000
Debt instrument, basis spread on variable rate		7.65%
Debt instrument, interest rate, stated percentage		1.78%			1.78%
Proceeds from lines of credit				$ 45,000,000
Interest rate effective percentage		9.43%			9.43%
Interest only payments, term		6 months
Principal and interest payments, term		1 year
Nonrefundable facility fee amount	$ 25,000
Debt instrument, fee amount							$ 2,250,000
2019 Solar Loan Agreement | Tranche One
Debt Instrument [Line Items]
Proceeds from lines of credit		$ 42,500,000
2019 Solar Loan Agreement | Tranche Two
Debt Instrument [Line Items]
Proceeds from lines of credit	$ 2,500,000
Alimera Sciences Limited (Limited) | 2018 Term Loan
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage								9.30%
Exit Fee Agreement | 2018 Term Loan
Debt Instrument [Line Items]
Debt instrument, term			10 years
Debt instrument, exit fee			$ 2,000,000
Subsequent Event | 2019 Solar Loan Agreement
Debt Instrument [Line Items]
Debt covenant, amount of unrestricted cash and cash equivalents						$ 9,000,000

EARNINGS (LOSS) PER SHARE (EP_3

EARNINGS (LOSS) PER SHARE (EPS) - Narrative (Details)	Nov. 14, 2019
Earnings Per Share [Abstract]
Reverse stock split conversion ratio	0.0667

EARNINGS (LOSS) PER SHARE (EP_4

EARNINGS (LOSS) PER SHARE (EPS) - Antidilutive Securities Excluded from the Computation of Diluted Earnings Per Share (Details) - shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	2,464,453	2,324,009
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 (in shares)	601,504	601,504
Series C convertible preferred stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	676,667	676,667
Common stock warrants | Common Stock
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	119,712	119,712
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	1,036,484	894,097
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Antidilutive securities excluded from computation of earnings per share (in shares)	30,086	32,029

STOCK INCENTIVE PLANS - Narrati

STOCK INCENTIVE PLANS - Narrative (Detail) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Weighted average contractual term	4 years 11 months 20 days		5 years 15 days
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 292	$ 545
Share-based compensation not yet recognized	$ 2,200
Weighted average contractual term	2 years 7 months 16 days
Equity Incentive Plan 2010
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	265,625
Employee Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 21	6
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized share based compensation expense	123
Restricted Stock and Restricted Stock Units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 127	$ 219

STOCK INCENTIVE PLANS - Summary

STOCK INCENTIVE PLANS - Summary of Stock Option Transactions (Detail) - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Options
Options outstanding at beginning of period (in shares)	871,472	830,100
Grants (in shares)	168,850	78,324
Forfeitures (in shares)	(3,838)	(14,318)
Exercises (in shares)	0	0
Options outstanding at year end (in shares)	1,036,484	894,106
Options exercisable at year end (in shares)	707,763	636,028	674,952
Weighted average per share fair value of options granted during the period (in dollars per share)	$ 4.18	$ 8.21
Weighted Average Exercise Price ($)
Options outstanding at beginning of period (usd per share)	35.46	39.41
Grants (usd per share)	6.75	13.10
Forfeitures (usd per share)	20.99	29.92
Exercises (usd per share)	0	0
Options outstanding at year end (usd per share)	30.84	37.25
Options exercisable at year end (usd per share)	$ 40	$ 45.22	$ 41.25

STOCK INCENTIVE PLANS - Additio

STOCK INCENTIVE PLANS - Additional Stock Option Transactions (Detail) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2020	Dec. 31, 2019	Mar. 31, 2019	Dec. 31, 2018
Outstanding Stock Options
Outstanding, shares (in shares)	1,036,484	871,472	894,106	830,100
Outstanding, weighted average exercise price (usd per share)	$ 30.84	$ 35.46	$ 37.25	$ 39.41
Outstanding, weighted average remaining contractual term	4 years 11 months 20 days	5 years 9 months 28 days
Outstanding, aggregate intrinsic value	$ 9	$ 4,043
Exercisable Stock Options
Exercisable, shares (in shares)	707,763	674,952	636,028
Exercisable, weighted average exercise price (usd per share)	$ 40	$ 41.25	$ 45.22
Exercisable, weighted average remaining contractual term	4 years 11 months 20 days	5 years 15 days
Exercisable, aggregate intrinsic value	$ 9	$ 13
Exercisable and expected to vest
Outstanding, vested and expected to vest, shares (in shares)	989,943	849,285
Outstanding, vested and expected to vest, weighted average exercise price (usd per share)	$ 31.83	$ 36
Outstanding, vested and expected to vest, weighted average remaining contractual term	6 years 1 month 15 days	5 years 9 months
Outstanding, vested and expected to vest, aggregate intrinsic value	$ 99	$ 3,324

STOCK INCENTIVE PLANS - Summa_2

STOCK INCENTIVE PLANS - Summary of RSU Transactions (Details) - Restricted Stock and Restricted Stock Units - $ / shares	3 Months Ended
	Mar. 31, 2020	Mar. 31, 2019
Restricted Stock & RSUs
Restricted stock units outstanding at beginning of period (in shares)	36,763	60,041
Grants (in shares)	30,086	32,029
Vested units (in shares)	(36,763)	(59,341)
Forfeitures (in shares)	0	(700)
Restricted stock units outstanding at year end (in shares)	30,086	32,029
Weighted Average Grant Date Fair Value ($)
Restricted stock units outstanding at beginning of period (usd per share)	$ 13.15	$ 17.30
Grants (usd per share)	3.12	12.90
Vested units (usd per share)	13.15	17.30
Forfeitures (usd per share)	0	17.40
Restricted stock units outstanding at year end (usd per share)	$ 3.12	$ 12.90

INCOME TAXES - Narrative (Detai

INCOME TAXES - Narrative (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2020	Dec. 31, 2019
Operating Loss Carryforwards [Line Items]
Uncertain tax positions liability increase	$ 8,000
Cumulative book losses in foreign subsidiaries		$ 134,379,000
Federal
Operating Loss Carryforwards [Line Items]
Net operating loss carry-forwards	$ 125,756,000	125,756,000
State
Operating Loss Carryforwards [Line Items]
Net operating loss carry-forwards		$ 172,993,000

SEGMENT INFORMATION - Summary o

SEGMENT INFORMATION - Summary of Operations by Segment (Details) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2020	Mar. 31, 2019	Dec. 31, 2019
Segment Reporting Information [Line Items]
NET REVENUE	$ 14,535	$ 12,890
COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION	(1,927)	(1,600)
GROSS PROFIT	12,608	11,290
RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES	2,883	2,727
GENERAL AND ADMINISTRATIVE EXPENSES	3,181	3,393
SALES AND MARKETING EXPENSES	5,672	5,913
DEPRECIATION AND AMORTIZATION	654	652
OPERATING EXPENSES	12,390	12,685
NET INCOME (LOSS) FROM OPERATIONS	218	(1,395)
OTHER INCOME AND EXPENSES, NET	(1,373)	(1,297)
NET LOSS BEFORE TAXES	$ (1,155)	$ (2,692)
Customer Concentration Risk | Revenues
Segment Reporting Information [Line Items]
Concentration risk percentage	49.00%	52.00%
Customer Concentration Risk | Accounts Receivable
Segment Reporting Information [Line Items]
Concentration risk percentage	65.00%		68.00%
United States Segment
Segment Reporting Information [Line Items]
NET REVENUE	$ 7,068	$ 6,766
COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION	(759)	(685)
GROSS PROFIT	6,309	6,081
RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES	1,922	1,427
GENERAL AND ADMINISTRATIVE EXPENSES	1,973	1,933
SALES AND MARKETING EXPENSES	4,280	4,041
DEPRECIATION AND AMORTIZATION	0	0
OPERATING EXPENSES	8,175	7,401
NET INCOME (LOSS) FROM OPERATIONS	(1,866)	(1,320)
International Segment
Segment Reporting Information [Line Items]
NET REVENUE	7,467	6,124
COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION	(1,168)	(915)
GROSS PROFIT	6,299	5,209
RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES	893	1,170
GENERAL AND ADMINISTRATIVE EXPENSES	936	988
SALES AND MARKETING EXPENSES	1,292	1,705
DEPRECIATION AND AMORTIZATION	0	0
OPERATING EXPENSES	3,121	3,863
NET INCOME (LOSS) FROM OPERATIONS	3,178	1,346
Other Segments
Segment Reporting Information [Line Items]
NET REVENUE	0	0
COST OF GOODS SOLD, EXCLUDING DEPRECIATION AND AMORTIZATION	0	0
GROSS PROFIT	0	0
RESEARCH, DEVELOPMENT AND MEDICAL AFFAIRS EXPENSES	68	130
GENERAL AND ADMINISTRATIVE EXPENSES	272	472
SALES AND MARKETING EXPENSES	100	167
DEPRECIATION AND AMORTIZATION	654	652
OPERATING EXPENSES	1,094	1,421
NET INCOME (LOSS) FROM OPERATIONS	(1,094)	(1,421)
OTHER INCOME AND EXPENSES, NET	$ (1,373)	$ (1,297)

SUBSEQUENT EVENTS - Narrative (

SUBSEQUENT EVENTS - Narrative (Details) - Paycheck Protection Plan - Notes Payable to Banks - Subsequent Event	Apr. 22, 2020USD ($)
Subsequent Event [Line Items]
Debt instrument, face amount	$ 1,800,000
Debt instrument, interest rate, stated percentage	1.00%