Item 2.02. Results of Operations and Financial Condition.
On January 19, 2021, Alimera Sciences, Inc. ("Alimera" or "we") issued a press
release regarding its expectations for its consolidated net revenue for the
fourth quarter and full-year 2020. Specifically, we stated that we expect to
report consolidated net revenue for the fourth quarter of 2020 in excess of
$13.5 million and annual 2020 consolidated net revenue in excess of $50.5
million. Alimera also stated that it anticipates cash on December 31, 2020 will
be $11.2 million compared to $11.3 million on September 30, 2020.
The preliminary fourth quarter and full-year 2020 revenue results and the amount
of cash at December 31, 2020 described above were calculated before the
completion of the audit of Alimera's 2020 financial results by Alimera's
independent registered public accounting firm and are therefore subject to
adjustment.
The full text of the press release is furnished as Exhibit 99.1 to this Current
Report on Form 8-K.
Item 7.01. Regulation FD.
In addition, Richard S. Eiswirth, Jr., Alimera's President and Chief Executive
Officer, stated in the press release: "While COVID-19 presented new obstacles,
we proved our ability to adapt and maintain our business in a challenging year.
Despite the resurgence of the pandemic over the past few months, we expect our
fourth quarter 2020 sales to exceed third quarter 2020 sales. We look forward to
the prospect of a return to more normal conditions later this year and
continuing the growth trends we saw prior to COVID. We believe the ability of
ILUVIEN® to maintain or improve vision longer with fewer injections is
highlighted even more now in light of the pandemic, setting the stage for
increased adoption. We will provide additional details in our upcoming fourth
quarter earnings call scheduled for late February." The full text of the press
release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
Forward Looking Statements
This Current Report on Form 8-K includes "forward-looking statements," within
the meaning of the Private Securities Litigation Reform Act of 1995, regarding,
among other things, Alimera's expectations regarding the timing of when Alimera
can begin more normal operations, Alimera's ability to recover its
pre-coronavirus sales momentum, and Alimera's belief that the long-acting
benefit of ILUVIEN that is being highlighted during the coronavirus pandemic
will increase adoption rates in the future. Such forward-looking statements are
based on current expectations and involve inherent risks and uncertainties,
including factors that could delay, divert or change these expectations, and
could cause actual results to differ materially from those projected in these
forward-looking statements. Meaningful factors that could cause actual results
to differ include, but are not limited to, uncertainties associated with (a) the
continued effects of COVID-19 on the ability or willingness of patients to visit
their retina specialists for ILUVIEN injections, including current and future
governmental orders and policies adopted by healthcare facilities to address the
COVID-19 pandemic; (b) the recent resurgence of the pandemic in both Europe and
the U.S., and when in fact the pandemic will subside enough to permit Alimera's
operations to return to a more normal state; (c) whether the benefits of ILUVIEN
will in fact result in higher rates of adoption in the future, as well as the
other factors discussed in the "Risk Factors" and "Management's Discussion and
Analysis of Financial Condition and Results of Operations" sections of (i)
Alimera's Annual Report on Form 10-K for the year ended December 31, 2019, and
(ii) Alimera's Quarterly Report on Form 10-Q for the quarter ended September 30,
2020, both of which are on file with the SEC and are available on the SEC's
website at http://www.sec.gov. Alimera undertakes no obligation to publicly
update or revise any of the forward-looking statements made in this press
release, whether as a result of new information, future events or otherwise,
except as required by law. Therefore, you should not rely on these
forward-looking statements as representing Alimera's views as of any date after
today.
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Item 9.01. Financial Statements and Exhibits.
(d) Exhibits
Exhibit
No. Description
99.1 Press Release of Alimera Sciences, Inc. dated January 19, 2021
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