ALIM - Earnings call transcript Q1 2018

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Operator

Greetings, and welcome to the Alimera Sciences' First Quarter 2018 Results Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded. I would now like to turn the conference over to your host, Jacob Goldberger, CG Capital.

Jacob Goldberger

joining financial for results for first Alimera all XXXX quarter conference you us the today Sciences' Thank call. Financial Eiswirth, With are me and Rick Dan today Chief President Myers, Chief on Executive Officer; the Officer. call and Yesterday, the announcing XXXX results. press first quarter issued company a release website. is company's call to and being recording webcast will Today's posted be a the

Following remarks open will up call by the management, we questions. to your

involve current are on which These the certain perspective and company's information the be management anticipate, call, and XX-K plan, Exchange other website. regarding such statements Commission and similar and not this fiscal statements and of forward-looking reflect existing words and will, risk analysis factors intend, Form may forward-looking ended future certain on described XXXX, meaning. make Any the management's Alimera's the annual expected statements December guarantees trends on risks and future is SEC's discussion and Securities identified forward-looking events words the Alimera's for During available performance. by and may, file These year and as of the with sections performance uncertainties. in should, future can on risk believe, such expect, report of XX, are

read with performance information in and under GAAP uses metrics, understanding enhance companies. when financial set and exclude so SEC factors financial information it financial conjunction for GAAP should certain report measures beliefs filed on XXXX, Adjusted to items. soon. titled be does those and Alimera of net such reported performance for expenses sections financial the operating figures. measures reported measures. only XX, includes under loss because not forth however, performance GAAP comparable Form Alimera's GAAP understanding together be certain the the may performance. that noncash Non-GAAP operating can by release quarter financial adjusted These also considered expenses financial other financial substitute non-GAAP and Additional non-GAAP the be measures should considered measure overall not non-GAAP of a may company's with of and not be be measures to XX-Q are non-GAAP those press when in EBITDA with Alimera's quarterly ended to similarly Alimera's operating March

reconciliation of For the financial see their Alimera's GAAP table earnings measures, to these release located in non-GAAP yesterday. directly most measures from financial comparable

preliminary All results positions and results In project unaudited is otherwise presentation numbers and addition, approximate materially. slides unless to financial operating any pro accompanying indicated. may on not or differ discussed this or are Actual this company. the financial forma report the call information does of on

or only forward-looking referred behalf. These qualified investors its too statements on this as makes cautionary cautions not in made the contained statements by are to on Alimera's to expressly at benefit For may of call, be that statement this presentation. heavily then, related the X Xrd rely the Time. or The reference and future those the any discussed SEC. undertakes recorded topics contained forward-looking XX-Q of or Since are the speak on with filings it this in required report most update presentation. of statements specifically call March forward-looking no and to approximately you Thursday, of its by obligation to otherwise applicable declines such filed Alimera's quarterly May held Eastern made Form obligation information, the recent revise was releases A.M. or to events the may Alimera statements XXXX. Please quarter this and or of new law. this have as forward-looking who announcements the press ended presentation listening of XX, except company The and date because replay on additional publicly for any

Alimera. of turn to like CEO Dan over Myers, I'd Now, the call to

Dan Myers

and you, have for begin made you, us ILUVIEN. with by progress overall Thank all, we I joining examining today. Jacob, the will thank

grew a we In million generating $X and global first revenue the consolidated XXXX, believe U.S., to XX% salesforce will to user our reinvest higher half increased quarter $X.X quarter saw of the XXXX. the datasets greater During million increase or compared XX%. of in in strategy user than focus by result of net the to quarter to first in the demand normalized increase million This data minutes. what more revenue increased the $X.X end prior first $X.X to XX% compared rate ordering from our end of an XXXX. year. of increase million, $X.X driven We few patterns distributors from million second our and approximately and this of The growth on discuss U.S. was persuasive growth to a the our in in this is presentations. a detail in in Rick at demand

those we averaged XX before, shared Throughout and U.S. believe field a quarter. the equivalents And equivalents operated with sales had of presence refilling year, of in last direct late and we some operated we've we we this sales first XXXX. last impact with As positive territories full-time full-time quarter the sales in the XXXX. XX in begin year a our in reduced in the on

targets. believe top Our are on is U.S. salesforce XX% physician focused the we what of

our intend and becomes basis. comfort emphasize We for need to to increase available to Our the that with awareness physician data significant deliver it ILUVIEN goal market. is within on the DME as a ILUVIEN new target of to increase and timely them the is to

experience with their belt. role clearly can has growth continued excited our quarter are a training salesforce what they Our played under in see data we and U.S. key and this deliver to

to in working the with and made investments salesforces international increase our distribution slightly of expanding in Europe the our We ILUVIEN. partners Germany U.K. have availability similar and also

in the from segment of XX% revenues in of the As million a our million result, quarter first in our quarter international XXXX to $X.X first $X.X XXXX. increased

physicians real in similar world I patient outcomes see replicated our as believe part continue their of As peers. drive mentioned, will outcomes second from markets We is data across beneficial to the cases our revenue growth strategy generation.

that the As of we and injection for provides release only single every unique before, months. said is to for pharmaceutical. consistently any the ILUVIEN therapy releases continuously other unlike a day up therapy drug It profile XX ophthalmic

that this We We life are data set-to-data time datasets set. we gather with each see from clinical be data. will and our consistent real trials confident new

in of preview protocols office Patients However, to this replicated or consistently for on is U.S. receive ILUVIEN meeting efficacy every clinical the to not dictated new the Research can status. not patient in not in for Ophthalmology day meetings. experience ILUVIEN; by the include most of be world clinical the EU to which data treatment XX service to the East. a drug. Vision for shift vision. do year's not simply IOP outcome Middle springboard practice to the when under We to represents show and Other The in reduction can have of the from underestimate the where get patient's DME physicians the other uveitis. match Much From Europe life study the of PALADIN in required of the coming ours. for like confirmation gain for Everyday increased safety and way. that XX user any in Remember, our data the of outcomes consistently trial on treatments. doctors discuss result for regimens this ophthalmological event our reviewed place real in highlighted clinical Association to ophthalmic world and provide ARVO has impact week patients were practices gets XX when presentations the more and a years, ILUVIEN treatment whether response months of improvements in the that presentation with Compliance from support XX data is edema treatment injection product treatment U.S. taking paradigm required. annual patients other is ARVO, treatment the as pivotal study or real burden ongoing predictability one in products and from into could a therefore, whether eight presentations the as At continuously reduced ability real Hawaii, both from because delivering and with our doctor's treatment found cannot can label. the there treating a data adhere and and results already world. and well in in ILUVIEN drug strict sets and frequency. and patient data sustained built ILUVIEN addition U.S., With and in three the suboptimal

effectively and habits physicians to ability feel changing treat and safely. are need ILUVIEN's confident in We to

in In new currently the addition to release we to available future. anticipate continuing data, analysis the

the Medicines the have attractive Kingdom approval regulatory in eye. Africa. corticosteroids to the a quarter During from follow-up we to EU for as European uveitis, received be early Regulatory as Agency fourth longer United we a with had the East Though fourth to successfully authorities late inflammatory continuous expect Healthcare we the we Middle a expect secondary the the for We uveitis. of acceptance initially the in pursue data segment our the noninfectious XXXX, secured and physicians Today, of delivery MHRA posterior filing third rights Uveitis in quarter, patients. uveitis receive disease indication the as the products of quarter and of highly and or standard-of-care ILUVIEN request announced will ILUVIEN's we the received affecting microdosing in Union, XXXX. is chronic are posterior and that in

our the the data anticipate data partner, clinical in of of before its from in and end response Our this the fall have will trials EyePoint, the year. to authorities providing one we that year XX-month of

to ILUVIEN financials. now and the drug the provide As growth we of penetration will population. But patient to operational up our XX that first a take months. Rick and you approval perspective going the for ILUVIEN of on call, XXXX. metrics of It's you detail before increasing we more our result, through I is remember to half in some important expect to I receive transition the want delivers that

as the be more a therapy. those refill patients not with available So, traditional pharmaceutical are they might or retreatment for

other opportunity revenue potential is us. for Beyond a or eye, the for longer near-term patient patient the an generating treating patient's that no

fact recurring Rick? year-to-year. each for it to Rick as like is that provide the is is for up a details than no I'm us a In pharmaceutical device this. or market sense, years. turn to of ILUVIEN month more patient medical to call more over is the out three business refill on going there now In a to

Rick Eiswirth

January grow our Dan volume, for available more are business retreatment may are with traditional previous Thank Unlike or XX% identify adding morning each script to the working to a pharmaceutical good sales more starting additional our over all treated until physicians to patients new an previously year implant. each rebuild patients there's and you, team that at XX% XX% over everyone. by year

the X,XXX example, to end-user an over XXXX. of increase For U.S. demand in in XX% amounted XXXX, units

However, the in think treated way, Each We can the has vision looking are patient is stronger in reduced available. to as to of December trajectory ILUVIEN getting XXst, the U.S. burden. the These XXXX, That still over And spend then treating at from number million into our we we of but in as X,XXX the who X of DME treated appreciated installed another translates have. eyes. has increase opportunity XXXX. their who treatment being eyes. since in approximately strong XX% maintain markets explaining trajectory families. approximately globally with X,XXX and over treat used ILUVIEN as December suffering more time with well on was XX,XXX ILUVIEN in patient patients has is is patient eyes and less time now was with as XXXX, us, are more a ILUVIEN the an in or than now ILUVIEN XXst, been eyes receives with a opportunity of not should been patients in launch ILUVIEN significant than improve U.S. which growth,

many are We have so proud their to and patients helped families.

to understanding to the turn business. financials, you monitor want I we metrics an and insight use Before of I our greater the to give

refer We to reported progress. discus provide revenues us The who and pharmacies management between usage it This in sold the is a following Prospectively, user user due our the ultimately stock the not patterns disconnect sales to the those end to those that our you of ILUVIEN team and the the into story, by of distributors used. It represent distributors often as downstream product revenues physicians demand sales timing on U.S. these is we to the units For sold sales to ordering demand insight as numbers and orders of and our reported these have units focus we demand. two end number ILUVIEN. GAAP by to not disclose have the is to physicians have because and you heard driven GAAP distributors where been important represents that team. physicians pharmacies correlate more to U.S. will their intend of to that recognize sales always and both actual distributors. our our and

Although the the has you was inconsistent see nearly quarter that correlation perfect first can launch. correlation of the slide, been the year, this since in in very

result, a U.S. As choppy penetration not reporting always demand. and our of our and has quarter-to-quarter in reflective the been end increased user

and demand, about the talked past. in the seasonality we've that more trends see user can consistent, historical including to you Turning are the

in of a for launch I For of XXXX. end since all Obviously, JCAHPO has ILUVIEN providing increased broader reimbursement that receipt quarter-to-quarter with XXXX in comparisons will user our note ILUVIEN. the represented growth our highest believe to was demand predicated our decision in the decreasing the our XXXX over latter slowed and but our focus cost this burden. growth on XXXX late part of our upon we cash structure year, reduce

we XX% under significantly Dan user strategy, in the As sales which fewer as sales the end equivalent referenced, full of only we organic with have growth. our reps turnover, some previously year had of shared. we ended XXXX field then middle or We territories. in the underperforming slowed demand eliminated combined Combined with other time this

we to reps successful, As last with the the structure of changes see growth In the mentioned, which you in we Dan because XX began in higher cost late rates first equivalent the reps, targeting quarter, contributed the also reinvesting operated of a this our salesforce believe U.S. were XX year, in salesforce we quarter.

a will financial sales we growth rates maintaining better of in expect I XXXX. the discuss XXXX in quarter results. result now than XXXX first stronger our We presence over will course saw

year. represents in of million the over $X.X revenue XX% quarter growth $X.X in prior of reporting first which million are reported net the We in global XXXX, the

million or net million XXXX user XXst, over XX% at our March by Our $X.X quarter U.S. XXXX, XX% million the ended revenue for quarter comparable for $X.X increased net a the period. with XXst, revenue increasing ended rate U.S. demand of to compared March same to the end of $X

adversely As affected I U.S. timing stated previously our be largest orders revenues by distributors. the two our can from of

distributors or segment, ended between users. In XX% the million However, XXXX in quarter purchased compared amounts amounts of sales. and driven of international $XXX,XXX to our distributors' no March approximately users million by the inventory and X% to difference first the XXXX, to increased of sold sales was there revenue revenue end stocking first for for quarter an by $X.X international to in our included distributors. was international $X.X quarter net material from XXst, the XXst, our of our distributors XXXX. the increase both end of ended March by $XXX,XXX our Revenues share markets first and This direct

XXXX XXXX, XXst, quarter XX%. for of first March March ended -- for XXst, quarter to Our an million global first increase approximately $XX.X expenses compared million were the operating the $XX.X

in the uveitis a and quarter attributable increases first fairs expenses the that exclude Our for approval $X.X first associated refund research, noncash the compensation the in with $XX.X XXXX cost in increase which our development expenses, coverage cost the March sales XX% the along mainly with expenses, Europe. million the XXXX. FDA ended XXst, by incurred repeated stock-based we represent first that offset March The receipt filing XXst, of of ended in depreciation, for expanded to operating the not adjusted amortization, $X.X million quarter associated expenses, to in of discussed from with XXXX quarter was XXXX, expenses, medical the or for first expenses million quarter increased the and from

of first of net $X.X Our $X.XX per XXXX, outstanding GAAP for weighted million the million March million in XXXX net GAAP results and a outstanding [ph] compensation, of the $XX.X losses $X.X taxes, in in million The million a that of loss we of of a transactions, average March of useful net for ended our ended EBITDA share $XX.X share believe on report net our first losses basic diluted interest, XXst, net our $X.XX XXXX. value share facility XXXX. and facility financial March a obtained compared ended but share was loss XXst, measure GAAP, unrealized loss fair we shares currency depreciation, the stock-based liability, with on March debt. our when XXst, was loss losses a performance. average to our on extinguishment warrant We to attributable of for new prior first in Solar quarter before increase extinguishment for ended GAAP of first adjusted net loan provides the shares the gains from a quarter quarter exchange quarter is more basic January. EBITDA per change $X.X per was non-GAAP loss measures and XXst, and alliance compared on the weighted amortization, and the charge earnings during operating foreign per the Adjusted loss from derivative diluted gains with

Our with in quarter line million budget. quarter for XXXX a or first the March quarter to by our XXst, XX% ended with the from million decreased first for ended improvement $X.X $X.X March substantial sales EBITDA the adjusted first for in our improvement XXst, associated and $XXX,XXX XXXX, loss spending

Turning balance to sheet. our now

equivalents of March of XXst, we XXXX, million. and As $XX.X had cash cash

XXXX call, then existing XXXX Solar completed loan. As we refinancing a our with everyone term may our January from replacing recall March in Capital

in able been physicians, result, presence removed in engagement gained requirements plans. previous and of increase our both had XXXX U.S. the stringent we investments capital and in loan a update first quarter that marketing our to Europe, our As with make and liquidity our field We've additional the reestablish to we've additional facility. in

strategy We critical consistent has way of our are quarter in been and proud believe physicians the field of the business changing our to in first that engagement the growth our treat of DME. success

to continue our maintaining efforts in our expanded We study, leverage science the impactful liaisons. a community our congratulate Europe, rewards to our efforts believe compared questions. salesforce. and record from like seeing the any engagement both we to to worldwide in for want Their turn the are consistent unit medical additional committed other first quarters. evidence, the prior any committed operator U.S. We and through With for to user to physician we of will on teams continue the our I'd salesforce In and are also our that, sales end to our or sales more growth XXXX medical in overall role supporting over expectations user efforts stronger to back support with call XXXX.

Operator

Our from Andrew question is B. Riley Please of Instructions] Company. go first [Operator D'Silva today ahead. and

Andrew D'Silva

question. Thank much Hey morning. my for good you very taking

that's goal of should expectation half see an the a ones users ILUVIEN really me sense period any else? that at quarter? quick slower the three give back on being few more you first you here. a and this or like anticipate other than seasonality than first an year you come first can of anything least XXXX quarter know actually you model or in And see and second your the issue remarks. time Was somewhat prepared on I continue last first quarters? year have we it Should then now is on you XXXX a if of the evolving Just what quarter back bit to we in of and overview for little as the if for guys? of reflect could and the quarters was a as quarter the or of a But kind coincidence timing in of give

Dan Myers

today. Yes, sure joining Andrew. us Thanks for

insurance does So, that being quarter benefit some for the of deductables primarily of third beginning and creates the seasonality, U.S. quarter, reestablish their the priced the everybody we reevaluate quarter formulary have in with coverage, some to system Europe the with investigations will and to their continue respect a in sort and to hospitals first the the where the of backlog provide the high in an believe it plans drugs. relates seasonality at drugs impact In the first to year. on in respect on first quarter It the reevaluate the their of to year, having the and new in the business. also in budgets it countries

the example, late the So, we in get with little procedures We expiring first to think were we in work well. ahead this treated of did end does investigations place on back some to because did year put from this they in do that us in some bit a would of XXXX impact it seasonality that prior as doctors that benefit be try in possibly some them the for in January. get was maybe to the Portugal earlier benefit year quarter had so the add investigations and system staffing less

and with So, we we not seasonality us of it If procedure that it, in in has really the for priced the it quarter Europe is it because to themselves. but some hope doctor do as not that summer in couple vacations is process, doctor drugs. we past to that softened the an the improvements of related blow used impacts would has is some repeat the holidays third both with prescription in impact the as of high and a is still obviously, with that office years. the U.S drug the has the And do our of seasonality it other because the of think

patients and patients begin those retreatments, the continue. great we to to rules that the where to XX system. XXXX the from be in a from of transparency when they coming months. greater retreated into not into are back all experience know at would So, system. patients and point are expect we expect we would the And the everything, Because specifically, that it's back have don't we coming would HIPAA With Germany, respect

more bit little late the gain in it got to to back to seeing a that little yet. So, but say happen it's can experience predictability. unclear patients we bit system come we expect you a will year, give before to those We've any this come,

Andrew D'Silva

in tell there initial I or said it have patients to back XXXX many any in been have back for too physicians that patients any waiting Have at XXXX second Europe? installed that, and or to in they take Has Okay. you come patients back guess, those is data -- as the from come to to place flare-up early point are their just to actually this treatment? get come before started in

Dan Myers

than anecdotal patients data it more look being much We'll are to is. get It's at. reinjected. We some know that

In going or week includes fact where our that from we have Europe examples case rejected we the a in many XX yet. But are reinjection months. needing about new after the sales well in a where was so not team and being also to sales necessarily at patients aid have that's mark evaluated U.S. or as Germany patient next a study XX-month XX in

believe it this any So, that got do have coming be on quite you physicians at few patients it's point. we to or expect satisfied obviously really any out and there. We good too data give guidance would we because early a

Andrew D'Silva

necessity they kind that shortly into see or looking for do or released far utilizing for of know to you're that version for of shorter-duration looking insert into. uveitis is after a partner Got issue looking uveitis EyePoint that you're something as for it, ILUVIEN then, their that? released as you a And Is something that a Durasert that's as your perfect. or three-year. DME well, shorter-duration I potentially their well is as

Dan Myers

in short-term time. in think this steroid few there we And at for point a treatments out not there options time. this No, other at DME is quite

that it's pursue So, nothing we at would point. this

Andrew D'Silva

little we should Okay, Any last two a yours? that start pipeline in thinking in anything modeling considering XXXX? be last out worth to relatively this dipped got the the finishing it. R&D question we just And quarter then or bit as programs about that's quarters

Dan Myers

tied in Not industry you and quarter of really fourth in some events. time. big the point That at the to meetings third and spending see is this

there this lot You the what spending around those affairs cost which have of medical quarter meetings is and messaging from VAO late have or and your in in these third medical a a quarters. you is drives standpoint, Retina

Andrew D'Silva

very luck on Okay, the going good through the you Thank in perfect. progress XXXX. quarter and congratulations and much first

Dan Myers

Andrew. Thanks Great.

Operator

The next Wainwright. ahead. question is HC from Please Yi of go Chen

Unidentified Analyst

Hi. to that than In marketing This improvement you employing Thank taking And growth for in revenue sales particular with growth? other is QX, demand it? question. on drive the you regards any satisfied new Kartik are for to you strategies Yi. in are

Rick Eiswirth

end the already of I even are higher to we patients striving growth user pleased again, XXX% do it, XX%, are that I mean, So, growth is the demand point demand that to all push coming patients user want are out; with new though we more. end XX% but to constantly do and system. about because those

teams of proud very we're So, accomplished. what the

be, next couple new renewed weeks we continue to coming in the sales little street, out of are, to addition Facebook of alluded got In the to as more little that we media you we that certainly and doing around work venue through another I to bit bit spread Twitter try believe a for the but on feet the additional are use ILUVIEN. trying would Dan what venue that tell on early We've to to probably are you through to campaign. impact to a put data awareness And aids there. social well, promote as out

Unidentified Analyst

Perfect. much. so Thank you

Operator

of is Our question from Laidlaw. next Please go ahead. François Brisebois

François Brisebois

just many it are or prescribing, more the said targeted XX% many Can prescribers or targeting you for thought us guys your how more there? what to just is And just docs docs regions how you remind best the is that questions. using? are the taking Hey and strategy you're thanks the

Dan Myers

specialists continue That's those top We doctors. to in on We really split keying focus retina right and our of the XX/XX will the inside there outside in quarter. the first about targets think U.S. is get in now is sales those and and focus really probably of everything what So, those on Frank, X,XXX about plan those I of right outside XXX targets of was targets attack our the certainly now.

François Brisebois

XXX? now at where you do And numbers that right are of of in Okay. terms that you out

Dan Myers

specific that with I quarter-to-quarter. have track on data quarter number from ordering don't XXX of can that a are we accounts about accounts -- of tell high first the We you doctors' reached XXXX product actually the do Not in And usage. new products. individual the ordering we

François Brisebois

last Okay, the time Hawaii. in and great. now pretty There and good you guys ARVO a you guys right on there. is ARVO is for [Indiscernible] around Can year post-marketing going of longer for guess mentioned data the the I And Dan presence you user versus compare you hands the this ARVO? in year buzz

Dan Myers

Yes.

not go last chose year, there attended I Although, although this I to personally year.

specifically not we've on, more think of in able we this, on posters number for were And the and in versus said I the last I but significant to to real more earlier Hawaii know, I in fact clinical versus drum produce year. real-world the from a doctors we're data beginning which was see that we really number this us Baltimore about data outcomes. able in excited is comment as got and what have papers increase but I'm keep a sheer banging this world to in standpoint, So,

our in XX has been to different really in eyes that compilation four of XXX user with the impact this the salesforce. in the study, we retinal degree, is of specialists hands in think centers which, real world so And of course, U.S.,

had And So, I advance been that. of excited training think quarter. about to see very they they we're starting have fourth the the in

X Phase five launched who data XXXX, to for old. recall, trial our those of don't same about was Just years when in reiterate

had time finished we between able and gap the trial we our a so quite to launch. And

real-world start what everyday to over which patients. important versus sees more very trial last really the been XX generate XX to data, it's the doctor clinical So, months mimics

ARVO I seen this for versus treating I sales just for year next up, sum And reps long-term the the therapy what that we to to hope think the just past. And data lot patients represents user just the more would reality clearly few doctors that in a reinforce in hands put would months so data. we in have PALADIN

François Brisebois

just DME more Are lastly and the the last the try terms now then now? salesforce great structure. going little stringent to ILUVIEN and facility, in still just growing sales for expanding guys pipeline? little And less Okay. for for a right thoughts keep and of to grow debt that's liquidity flexible Are there you financing of

Dan Myers

give precursor in the as the the looking the we to of pull-through in marketing or patient either you of that of is push the the quarter at to few see is We're volume of comment from office and much reps effort I or question There you us patient sales at to your some we more the that version you've marginal. you benefit media territories the to buy of of territories. the do in be a about of what little insights a where can think market bit social not salesforce. would the but clearly been think the of because key caregiver where the caregiver number the the perhaps DTC be focus messaging some be split the There invest representatives. the here we that could to would we're patient could beginning how got expanding lies. that obviously, in in and that looking first is things some the think but be impact, that add to would standpoint that kind ready that's There the if typically because, it programs, trying versus and just sort with kind that we makes to and strategies value sales started could always growth

at back look of So, that during half year. the we'll the course more this of

earlier pipeline, been you'll and have as think the as meetings such mentioned our indications as I years see ARVO ago, other on encouraging far FDA the non-proliferative retinopathy. diabetic around what As with I

there good one be required trial would have we would think be requirement. what We and had on discussions

we the cost on of be try some invested course, much to as we and of the the to to expensive faster profitability less than and DME trials would time look in We've opposed committed original capital side. at closer commercial half back more that as get in fund a raise that the So, those and trial. to year profit

to So, it something in would second the half. be watch

the than entity some new few I acquiring out indications far is served for better think chemical our right now between expanding pipeline there. that and ILUVIEN are

François Brisebois

it you me. you. That's for much. Thank Got very

Operator

to back to turn [Operator time. to at I remarks. no like the would further Instructions] this questions for There be call closing Myers Dan appears

Dan Myers

your are accomplishment excited your second all of Obviously, today in we quarter Thank We in time quarters. quarter, further first back and going opportunity the the to attention for for share Thank updates you. first questions. in the Thanks proud to quarter. in your extremely time. the subsequent the come the the appreciate about and look you to you with

Operator

This today's conference. concludes

your for lines. now your you may disconnect Thank participation. You

Alimera Sciences (ALIM) 6 May 182018 Q1 Earnings call transcript