ALIM - Earnings call transcript Q1 2019

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Operator

Ladies and gentlemen, thank you for standing by. Good morning, and welcome to the Alimera Sciences First Quarter 2019 Financial Results and Corporate Update Conference Call. At this time all participants are in a listen-only mode. [Operator Instructions] Participants of this call are advised that the audio of this conference call is being broadcast live over the Internet and is also being recorded for playback purposes. A replay of the call will be available approximately 1 hour after the end of the call through May 14, 2019. to Core conference Relations IR, like Gordon, to firm. now of President the would turn over the Scott I company's Investor Please go ahead.

Scott Gordon

for and And call. Nancy, morning, participating you you, conference in Thank today's good thank everyone.

me Chief Officer; and Joining Eiswirth, Financial Jones, Executive Alimera's are and leadership Rick from President Chief Phil Officer. team

meaning XXXX. management Securities Litigation Private will call, number this the making a of Act of of forward-looking During be statements within the Reform

identified potential, facts statements terms include plans, that statements anticipates, generally believes, such negative by Forward-looking would be estimates, are not as the and projects, can historical those predicts, may, all expects, or terms. of intends, should, will, could,

materially involve cause statements. different factors Forward-looking and uncertainties risks, that known actual and or may performance other be from statements results, those unknown to achievements

company's call these in that financial EBITDA, company's its annual measure about risks, filings, useful in Risk section for the performance. XX-K includes believes the conference Form evaluating company see please XXXX. of SEC Factors details Today's adjusted report the can the be particular, non-GAAP For a on

a consider You as isolation or in for GAAP. results information prepared in not this accordance additional with should substitute

For update to over call. Rick? pleasure that XXXX. my XX, revise a circumstances net GAAP its table as Rick It the publicly call this obligation to that measure, accurate April financial reconciliation Except information non-GAAP is information today, or comparable turn accompanies reconciliation earnings directly call only now located of The of any see to law, the Alimera's release content of measure as to is financial by this in events Eiswirth. most that loss, call. this this disclaims contains any time-sensitive required after occur or to reflect Alimera

Rick Eiswirth

of paradigm in of anniversary of and two, markets Number distributors Germany the likely believe patients the And indication change four, direct countries uveitis and regulatory revenue is This for in good accelerate indication for labeling. Thank distributor obtained objective compared in prepare consistent in These progress for We year, X growth growth for expanding XXXX, their of of our European on new of posterior approved business Number as to to the longer continuing driving European morning, to XX% achieving DME and in countries. by three, where of many edema maintain in our the by with with business to raising a initiatives. XXXX can performance are. the XX you, growth our We one the our recently and of reducing U.K. strong physician and the in ILUVIEN uniqueness same diabetic the we retinal awareness the vision DME injections. launch ILUVIEN one, and partners number XXXX. The supporting as first the approval last new in macular by in practices. have quarter of period launching approved Number Scott, of ILUVIEN's made our with and communicate later X-year patients reached only DME. we for recurrence with to focusing helping this by key the retreatment on do initiatives ILUVIEN fewer nonacute therapy need have treated patient ILUVIEN starts launches edema, or everyone. non-infectious we intend XXXX are therapy. treatment that organic XXXX XXXX for

year over primarily the in by prior more performance For the period. than doubled international contributed growth first our quarter, to this sales, elements Two our which growth. driven was strong

stocking first in and orders First, France Europe, as our in availability the Spain distributors during increased Southern for filled quarter. prepared Italy, we

following quarters, a stock growth past for to effect we well. beneficiaries of physicians future of has X in implant for increased as our several that line substantial to This OZURDEX, on substitute a a Second, short-acting the recall. was steroid lasting months exposure revenue but out been a using we it were not believe have as Europe ILUVIEN ILUVIEN only for will

of We by of experienced and an both level have ILUVIEN physicians. consideration new increased seen

We with physician business have may technology who and for a by treatment of that only we as to focus been the we first retain And that XX of on familiar of that advantages. is unique continuous now we much hand, at Retention become ILUVIEN's reengage namely, consistent is ILUVIEN's benefits and have hard those gained in able months. ILUVIEN's physicians market, we experience that have can of delivers reminding microdosing to back to continuous have OZURDEX had launch. new limited major customers business that -- as up working with the Europe are unique unique

Our do of we represented sales Europe DME and France, U.S. in in Spain about ILUVIEN patients number the international total our we of quarter. as sales the access in have first base approximately to XX% available now same in With the Italy, in

our U.S. business. to Turning

Although We little were of the comparison other as a GAAP versus our companies by negatively by our impacted disappointed prior greater-than-expected flat sales year, new several ophthalmic launches XXXX. were grew QX demand the to to in were sales XX% quarter. sales in force the due relatively turnover in growth in end-user aggregate

same that encouraged those remain of quarter with growth staffed the territories year. performance last in are the versus XX% territories However, during period we by in the

would We important departed the performance, fully in broader expect to absorb sales allows the today diversification be have in of is by impacted the replaced are us past, the overall geographic generation. middle and of our our An we some breadth a inconsistency, to and seeing sustainable adversely reps growth. revenue quarter. performance our Whereas, region staffed the most lesser business any geographic second facet of territories the the impact of in

expand to further. we this indication, both strengthen the geographically As impact should and with uveitis continue

quarter. by of quarter we our Importantly, see discipline first And we positive can maintained goal year. today, fourth adjusted results you becoming achieved our that last the EBITDA in the in of as

some cash and distributor, strong year that a our growth for slightly. financial the believe that positive of fact, our Pharma, grew positive key March, which our objective of attained highlight progresses. generate national operating in our early Horus triggered A I'd both cash is maintain French position will contribute we for and In us to month. for like announced as forward. now going we France, a continue position the to recent accomplishments to periods, the to to launch ILUVIEN In product EBITDA adjusted in this pricing year reimbursement

for is As France. a Pharma in responsible for reminder, promotion, Horus activities commercial marketing ILUVIEN and all

April territory. is In announced in new February approvals with made countries. sales first Lebanon Horus came United March, for Middle we as in and patients The respectively. in available approved in X Kuwait, Arab regulatory both ILUVIEN now Eastern ILUVIEN combined ILUVIEN Emirates, the When to this and

Our countries of ILUVIEN International responsible approval in we XX, regulatory commercial posterior partner MEAgate in Middle for of is XX East. March On announced in a Europe for and the total activities regulatory uveitis. non-infectious

now indication mutual return for received country of in approved labeling. are phase, extremely continuous highlights with received. in procedure, authorization that pleased non-infectious which recognition for and the the posterior or we the country that in is edema. the We indication label This relapse the we XX recurrent, local prevention we will ILUVIEN's promise The in microdosing uveitis this each recurrence eye. European minimizes countries, indication of the Under are provide the segment of market affecting

reimbursement will then with Beyond timeline. labeling, country having we each own pursue its

in We launch following in new this late quarter is on with the indication as see expect XXXX to reimbursement first achieved. of of second Germany the countries other

was XX in the posters favorable we in weekend, past presentation of forum. the non-infectious in and highlighted clinical the time this shared first treatment of at public the Conference ARVO Just podium X was a The X-year uveitis presentation results podium posterior ILUVIEN Vancouver.

in topics that posters of brings reaffirm the that Importantly, to several the data addressed the to DME. continuous microdosing treatment continue uniqueness

drive help retinal us retina neuroprotection unique continuous to paradigm and further intervention of the deliver in retinal we of was variation as Dr. newly presented value In created the minimizing brings month, neuroinflammation, of to which Samer fellowship and Chief trained for Earlier example, microdosing a a in advantage this the drier position, earlier neurologist a maintain believe thickness. expertise change our For Samer Medical in the with and on appointed disease. neuro-ophthalmology consistently Officer. data and we will ILUVIEN this Kaba, treatment to with ILUVIEN's

strong demonstrated a future in remainder of opportunities longer As first term. for the the both these basis quarter, our provides for with respect execution and year to the growth this

low, with we longer ILUVIEN's seek benefits. increase of fewer physicians we DME of to important the We have their awareness reduced a a vision. ILUVIEN features conducted, benefits: about to surrounding DME, better us They learned to connect patients is to that the we awareness their that consistency patient often ability injections the treatment patients test reduce is also it of the ILUVIEN's our Therefore, disease According likelihood of the information emphasized research their but of exposed about high when improved of a patients, unique recurrence talk the the program with concept. are anxiety X and the to about and and direct-to-patient burden. most injections. ILUVIEN surveys benefits to marketing The launching us tell In among seeing the designed treatment of for experience. having well treating

patients in treatment with program in planning the to a if ILUVIEN digital, U.S. to run and is them. pilot enable for and doctor and goal marketing to diagnosed caregivers right with DME their ask radio We in-office educate are campaigns cities in X the the

we excited receive Phil, results and pleased patients are the opportunity the I'll this made benefits have Phil? and to internationally year financial turn quarter. first the We our shareholders about call patients with the U.S. value the and so as over of now ILUVIEN. far to will drive for our who begin for for to more are review the in progress

Phil Jones

Thanks, hello, Rick, and everyone.

$X.X quarter and revenue XXXX. $XX.X first to of XXXX net revenue net quarter approximately in grew the our first the compared consolidated During XX% the million of first quarter $X.X million of U.S. for XXXX. both was to XXXX, million

units quarter physicians in units XXX units represents compared the distributors, increased quarter from XXX which XX.X% to of increasing XXXX, first of first and by pharmacies purchased in to our XXXX. demand, end-user However, the

to have previously of the the is and distributor by in GAAP with our in due distributors. demand discrepancy U.S. revenue the between due timing timing shared, purchases correlate purchases demand to always end-user QX XXXX. our of revenues not we end-user As do This GAAP specialty perfectly

period. impact of our they their Medical, reported in prior were of $XXX,XXX am to of stocking the of expenses negatively March in $XX.X Alimera's policy changed time. of During $X.X XXXX any and hand XXXX limited to The and the ended $XX,XXX ILUVIEN sales This $X.X of the costs. on General in work-down million positive at quarter $X.X to have largest down million on end million for personnel first to users, their EBITDA attributable year. XX% XX, quarter March now quarter complete, were decreasing quarter decreased this to primarily same approximately in decreases year. $X.X million million, XXXX's adjusted so development Besse approximately The during subsequent were and U.S. to for for million revenue last loss X approximately quarter ended XXXX, is X% first million year quarter. $X.X the amount $X.X adjusted administrative the the operating $X.X of first units wholesaler, marketing same point expect during we stock quarter million compared months the to hand I to XXXX reduce from Total compares quarter to the quarters. impacted pleased compared last compared we X% of months first approximately XXXX. or inventory the million EBITDA medical the International reported quarter expenses during expenses purchased affairs the down first the fewer million expenses as segment an decrease for first period of XXXX. approximately were Net first was The of to first distributors Alimera's quarter XXXX, compared that reiterate to during X% for than the for to the XX, sold the XXX% on increased event onetime from $X.X during $X for XXXX. period XXXX. $XX.X million to Research, first approximately Sales X

share million a per net cash XXXX, ended million, average equivalents XX, XXXX. a adjusted net loss of shares Net March diluted We $X.XX compares X basic positive X significant ended March slight on cash wrap and back loss months With weighted average XX, the shares XX, $X.XX X reported to XXXX, we share March the XXXX common outstanding. approximately common that, the continue $X.X increase maintaining XX.X net per basic EBITDA. months X million, the equivalents cash and was prepared ended was over million focus cash to common improvement. our to March the of share on up XX, in GAAP million loss of XX, comparison in we to diluted Rick XX.X ended This approximately turn on for outstanding had approximately March weighted on XXXX loss XXXX. $XX.X approximately Rick? December another and call from for decrease $XX $X.X for and the to On I'll months a during XX, now per approximately remarks. significant months that million

Rick Eiswirth

phase usage that value of the make and markets our products to indicated shareholder continue existing DME the with distribution is reducing the growth launch recurrence only for a treat by other upon our to disease, by as ILUVIEN readying good disease Phil. growing works ILUVIEN continue Europe. the to To progress appreciation gain of of We in the believe to penetrating markets, you, drug ILUVIEN well the we new business, and next partners is community. new ophthalmology positioned benefits to the indication treat sum that in whereas Thank up, Alimera recurrence. with increase

to questions. every on that shown clinical like months or inhibitors maintain according doctors VEGF bimonthly usage are the the EYLEA to ILUVIEN's disease cannot. been the of in disease treating our acute once designed for episodically published deliver to inflammation It to indicated treatment the steadfast minimizing their now vision And used that it management: injections. the continuous audiences doing in this overview, injections. rather and are the becoming continue like a available into continuously but message physicians of that by ready example, for DME need on condition monthly This than to treating Medicare target patients they X average and to our with grow by what provide data. this, or vision repeat Lucentis reduces practice integral treatment For the chronic on physician goal driving a patient of We for disease retina. to fewer it has technology improve significantly remain and the the consistency therapies we're paradigm. part use more with in is. want suggests enables that microdosing ILUVIEN's take trials basis, the longer-lasting is Operator? the With are This

Operator

[Operator please, our we're to going question manage you. One Instructions] moment queue. Thank

Rick Eiswirth

Beverly FBR first corporate May that waiting in presentation through will are which mention May the I'd we at Investor Conference to for XX. Annual a I like from While the place be B. Riley making Hills, XXth takes California, question, XX

Operator

from comes question first J. Our B. from Andrew Riley. D'Silva

Andrew D'Silva

see cash that. then, And the and operations if quarter, have also information, Bookkeeping didn't a I noted sort you OZURDEX first, flow you're answering about placed or you Phil, breakout $X.X And CapEx. could. from it exact during then, of beneficial kind distributor pulling units while you quarter? of the on Domestic last benefited million. constraints what during if the ILUVIEN likely sales that impact color quarter, had Any this for by

Phil Jones

that's... from -- $XXX,XXX And me in quarter things quarter. And units answered flow, XXX believe believe we quarter. that units Andy, The the know were the for operations the I the if first had, units. the to the again, cash had demand you your cash that approximately about that question, end-user Yes. but I for on we asked was let first sold you that compared flow the for first units. units GAAP And the XXX first

Andrew D'Silva

sort Any CapEx. Just of...

Phil Jones

Oh, minimal, CapEx. quarter. for -- CapEx first $XX,XXX was was the I it mean,

Andrew D'Silva

question. Okay. And then OZURDEX was second the

Phil Jones

the repeat I'm please? you more Could time, sorry. one question

Andrew D'Silva

Oh yes. $X.X OZURDEX by million. likely constraints benefited Last you sales quarter, noted ILUVIEN about

quarter well. Just as curious the first for a if you comparison had

Phil Jones

OZURDEX first feel like was in in internationally approximately $XXX,XXX We Yes, with from impact we the no U.S. in -- in markets do. impact our that the quarter the

Andrew D'Silva

Okay. wow! Oh,

for to revenue number coming in that's stocking policies were basis From you set Italy on product? transfer And regions that now, some -- of sales on ship sales major Spain a accounting you I and at regard, some once from and are are great year, the Or revenue online, kind basis recognizing million adorable least an for is recognition partners? in orders? those recognized new France, international the it you maybe just, now are $XX the mean, a of So that see. how there doing

Phil Jones

by ASC policies another. mean we independently has I at guided contract the of -- essentially, to just if now, you each the look new reviewed accounting the And are principles, be XXX. Yes, one

other revenue country into. lot have quarter orders sales to -- a the did a So that depending for have what on be first bit that and stocking move that revenue the going essentially, is on buying we other for as But fact we demand the little we on in the different be year of through France in somewhat specific launch. will will lumpy the ready And the the they market are be those areas getting for based based areas. that

as countries. there we believe but the further will into various through -- So be orders we that year move do

Andrew D'Silva

little to we more are internationally going quarter this have seen? been a next the kind trend And has generally bit than leads that that the of weakest some Or into then happened that figure been historically, seasonality. great. of year? subsequent maybe Obviously, question to materially and we maybe the Should the Okay, on better. volatility create first quarters continue benefits have traditionally

Rick Eiswirth

certainly business. in see we still expect to seasonality Andy, the some

me, U.S., a re-run those to going year, plan people excuse like in benefit high-priced things product, with restart doctors most their a major high-deductible on obviously, X the is You investigations. insurance as being there have -- new -- the that

it the bit And the Portugal at a a beginning hospitals of so those push longer is good year. then through them like their of some European the formularies queue. second And everything this, thing patients takes the and markets, to little the of in is, to the reevaluate example

the you in get the we're of doctors some slow since to of of office, -- don't Same in we We they're prescriptions. the ILUVIEN of because sometimes markets that impact doesn't So quarter see continue think European of the seasonality season thing. us. type will holiday With because similar third a recurring used. out get would

So the that do little of the is a third OZURDEX and you'll and some first see softened replacing bit still quarter. sales of of quarter January of in We impact think in the seasonality this because some February.

Andrew D'Silva

quarters But a the what -- from run look it $X was the some a international quarter, around the but for think to million a for to an to necessarily time, don't new that proxy better now the million maybe and $X reality it should a what the about? just what trying ILUVIEN. -- prior X get of the for mark. make I we Is closer to closer kind standpoint, sense you're will rate million like? fourth of is am like be mark historically, Obviously, trend, $X should mark is Or

Rick Eiswirth

sizes those I think see next off Phil choppy, to little you're lots and as going certainly good specific sell off couple because bulk number. quarters growth going will over of and be in to, order to but reorder. the of that distributors alluded lot then It's a our proxy, that's a continued bit

country But some the And orders increases, you'll I would country little over the a until itself distributor it of there. expect, bit of consistency they'll from XXXX, so, out. in to course develop smooths as inconsistency to start see their volume

Andrew D'Silva

in sales remarks you to reps to then team the sales how some from what Can typical there dramatic sales of that the region's had is member -- that no during a you kind sales left? actual in maybe is servicing your a you Is sales quantify revenue? it And due if impact shift team And attrition full-time maybe other many launches. area? color. prepared Good mentioned quarter that

Rick Eiswirth

Yes.

XX% and over would up of there. going say, of So turnover of impact has other to right, months in the the first variable, launched practices several we of quarter. patient to those In experience there's XX% reps the Andy, in we've getting the companies ILUVIEN to a team, The and is XX% Most little frankly, into it Most rep more business, practice, has continue to less the only we job territory. in their overall. we in in ophthalmology. bit first were front-of-the-eye experienced if certainly to I year, of that launches the paradigm, we done great ended a with order, hunting because XX%, changing at some unfortunately. been but is If it's the close in physician that probably I integrate think to rep from a territories, we a the had patient were turnover best the had other we to to X consistent, territories really steroids being great from way front-of-the-eye the grew stickiness the about said, territory look that about grew there.

obviously, where downward those territories had vacancy. little of solved second will we've that majority already. So, the some trend filled of be We a the because the throughout those in positions quarter think we bit

Andrew D'Silva

couple with road I consistent of a the separate as bring know more from profile. reason down then expect it? is years diabetes line the Or maybe uveitis I'm hands you a retreatments between with then maybe verses out than up you patient difference to but we're even that uveitis just possible report talking around to Are the uveitis, sensitivity it I here, a just that my get Ok, would trying there. would DME? retreatment the that when And that is being question great. far you related is for And item? DME going versus last uveitis. be to breakout as

Rick Eiswirth

Yes.

things X So there.

some ILUVIEN the the don't have there. years. we separately. script so growth With the certainly respect to data uveitis to really So every we see won't It's country, -- see X improvement same retreatments, report to in and have lot individual able SKU we won't in a in on revenue DME. on uveitis versus beyond But see of we data be uveitis

flare-ups other we presented mentioned uveitis treat tell data you similar X-year used at we anecdotal had the DME, it have Germany, XX XX-month physicians conversations with first doctors in that, I to And where some we to times, was earlier also and haven't it know out. As until can I in uveitis know evidence have the months specifically. because XX off-label mark. they I've any have day, seen at treated the had ARVO. that

I similar in on So severity a of be to disease it'll think DME, patient-by-patient basis depending the on patient. the that

Operator

comes Our Alliance Global Molloy Partners. from James next question from

James Molloy

I in EU had quarter, question prior a very up following on strong the print the the question. on

for mentioned How going more your level France wasn't stocking on were I You stocked is level was is forward? -- sure are the the $X million the or that that the Spain appropriate ready million answer, level you are $X Italy, all in impact all quarter, the quarter? in the level that much saying and launch. And appropriate

Phil Jones

$X market small. gives that just because the XX% substantially the level quarter, the more last direct the the the believe answer -- indicated our to level. million in on believe first. to probably And of in numbers you question themselves, while the first I segment was that grew you some Hopefully, basis about color give international grew relatively first at just of than appropriate is needed. I Rick you that XXXX markets, the what more measure quarter the in

James Molloy

retreatments. should And retreatments the through. the on Great. start that coming mentioned I you Yes. know then

quarter. a -- When stop that there, you is quarter we'll would And slower anticipate typically coming sorry. First seeing through?

Rick Eiswirth

mean, year. the think of Yes, XXXX. will Jim. treated about We so we slowly first quarter XXX build in throughout the patients I that or

as course that over So well. sales of built year the

of mentioned X don't ago. know We we we when one have investigations Andy's patients. on in that I was are As back specific years I benefit patients information individual we do saw -- on comments, addressing that come

that is physician So happen. to patients that in. if the sees on time know to a patient-by-patient a be injecting in ILUVIEN starting happens, frame, to they're XX-month XX-month When a of it we starting again, disease, is basis. evaluated recurrence Again, it

the We hasn't that specifically back to have third others a that as dose low physicians really just out as wait. then just have board. on come to injecting where keep of the date know continue on that treatment we few far consistent are And patients that we edema based And XX watch months of. and anniversary

starting the specific this to happen. difficult quantify So time impact it. to It's very of it's at

James Molloy

think, How of of has XX% of Understood. year through the to at, number XXXX. many $XX traditionally, quarter of would on reps. those rate years, will do run impact the the -- -- percentages would nice or profitable Could which rest were follow high imply total number the reps? first I'll that build-out up XX% of sales, reps your sort how left? Then look impact been 'XX? you sort you I does maybe talk the that about -- who of for million those XX%, of And -- high-end a last how the What impact of or the over reps,

Rick Eiswirth

It's the to In wanted of space for demand we You say. something probably as as and as we know, it's there Overall, that well ophthalmology far these been reps. for should as after lost, reps people bag that prepared of a disappointed trained the lost mixed really some frankly, some I'm that the mean Jim, frankly, a certainly come it's out our of -- other we've I in fact weren't the we, ways, the I reps we people. proud would have launches. I'm lot

So good sign. a I think that's

losses were and -- were reps change not us for and both positive a probably the the of were some Some regrettable rep.

get an speed we've of an As than to We've over they the the reps ever up a far year, got as pretty program runs gentleman year. to up the job for speed. mid-May longer-term And, Carter up Chad faster got named outstanding what potential it getting speed to course up for means that training quickly. and have. full our They of and well pretty and said, should he we these running the I as training getting outstanding to and board on rest does be by a and expect the just program, reps have team

James Molloy

are last in and or And pricing any any taking 'XX? pricing anticipate potential pricing thoughts reps? any -- question changes fewer changes changes taking And any new products then on Understood. you on

Rick Eiswirth

to the we same bill. anticipate that ILUVIEN pricing don't buy products the the majority any retina space. pricing, The respect And most happens changes. thing With with and in and Sure. doctors do that's of acquire

it's from a customers implement as customers increase, to So haven't price anything very we and well. our very, seen -- challenging our

put of at little Jim, on that would for to in to leverage. bag, commercial the now, be was? with to asset the it. a be believe U.S. rush Jim's we very prudent find to and love a out looking need to the structure products, Alimera and will bit new to so we're what certainly But part do fact we we that we that doing. stable like else in that to have, obviously, second financially have The we Europe question are and we another continue We of don't Frankly, thing we need would we we something here unique Oh, the look, both anything. in think, there is a

in looking, keep look but the going things to be we going to we're we're So very at. prudent

Operator

Laidlaw. from next The François comes Brisebois from question

François Brisebois

it when answered on but Just there's a this OZURDEX didn't of the first quickly I that has side And talks million quite the here, now, think well impact press quarter in it just release, couple hit EU you the hear of Andrew -- here. $X.X of about on times shortage I in been the the again.

I heard nothing. think I

ex U.S. just seems the much understand the that than in U.S. U.S. if U.S. amount now why you're growth ex so you bigger to want same So patients have the in the and treating I

Rick Eiswirth

recalls No, the impact about in the is Frank. had probably from quarter was $XXX,XXX. OZURDEX said first What Phil the

If we to comparison grew in remainder our in you XX% probably from year. between the distributors. orders then, growth XX% of at and the direct the revenue from look markets, our last the And is

François Brisebois

aware patients might direct-to-patient, Okay, doctors, as maybe Are should option. That terms seeing in of an as makes seeing okay, Okay. they the of be as that then as not not as major should they the sense. and not but same in about then -- still be might And with centers, thing aware that you you're be ILUVIEN be ILUVIEN? the

Rick Eiswirth

retina Frank, space. think I so. is a I tight I don't pretty space the think mean

As X,XXX is the certainly pushing say that direct-to-patient receptive was it. broad a base make doctors doctors just where we've ILUVIEN considered of to we for to be geographically, I This there campaign maybe on. awareness where using located of be past, it type high. physician in something they're doctor are see about time. the patients don't pretty enough, community in that sense the is to But the said until wouldn't But didn't that doctors. user mean get frankly, I amongst we've the there would out there's to call long

the So has we there. as appropriate that user base start broadened, the now is push trying patients to time to think

François Brisebois

effort Okay. mostly the is direct-to-patient effort in the And a worldwide U.S.? is that or

Rick Eiswirth

U.S., lot the just requirements market just us to of U.S. in the It's the to in A of won't the directly allow in some patients. foreign the regulatory countries

François Brisebois

the variation up in the to should community? Understood. big about doctors react And seems the minimization of with think retinal people thickness then this jibe -- seeing Is as are deal? of that keeps thickness. you in -- kind of this posters isn't here, the is That Are they when and medical the variation the retinal to you kind data to. of that? they something a do be new coming CMO recently presented Or

Rick Eiswirth

is that that we're come our board product. us. that And the Dr. right? reason early, part some I is and of one ILUVIEN, hired of it's mean think certainly I on the join Kaba it's with that -- with people can really first the actually efficacy to of It No, we demonstrate

trained is come an of underneath. that when continues believe eye there the underlying a continue is allow damage occurring that -- the is the edema we right? And some of As brain, the to to of back he when lot extension inflammation even neurologist, a or you

the on retina So going other longer-term is ways value Dr. to longer that help certainly of to find us keeping protecting Kaba demonstrate flat vision.

Operator

from from Wainwright. Chen next The question Yi comes H.C.

Yi Chen

soon during by data ILUVIEN presented further of at not, as anti-VEGF treatment And today? early use the How the revenue to are most accelerate market Alimera patients does as potentially fail ARVO educating to top particularly, to stage penetrate ILUVIEN ILUVIEN? DME? for doctors the plan line growth doctors prescribing use If could company

Rick Eiswirth

ILUVIEN ARVO, unique in believe things. a intervention a Yes, mean, we point reducing or I the fluctuations was or at steroid of so a using earlier to in with is lot with of presented that earlier that couple the data the about messaging comparison edema. on anti-VEGFs retinal our value the

followed us the do people it going Realistically, I after the injections. in are will in to that marketplace consider even maybe into shift doesn't perspective. doing on to well switch. specifically, think anti-VEGF some of steroids years X do and And the how now a continue anti-VEGF going use injections are to that earlier but continues across before a general, OZURDEX, ago, they certainly be may commercial anti-VEGFs more tells see closely So our we The to down, analysis only ILUVIEN X. early that, I ILUVIEN they're X. doctors or the messaging XX, be launched happen a would work should X they there where and tell that and That when XX argue part population, of starting physicians more and migrate earlier. would you broader get do X to certainly early XX, both from able analysis

need the So your sooner, and about and I -- happen uniqueness a that more to data making ILUVIEN points more trying make to of that seeing doctors with consider are switch faster. we're try do to when shift great we're What think is that way. the

Operator

like I concludes to the conference to Mr. Eiswirth This our for remarks. would closing turn session. Rick question-and-answer over

Rick Eiswirth

look day. call on in report have progress today's call We results. you conference Thank quarterly a Sciences. all I to we and quarter Alimera next second great interest on when our of sharing and participating want thank you, your our our forward for to

Operator

is conference The now concluded.

You may disconnect your lines.

Alimera Sciences (ALIM) 3 May 192019 Q1 Earnings call transcript