Investing.com | Editor Pollock Mondal
Published Oct 27, 2023 07:34AM ET
Alimera (NASDAQ:ALIM) Sciences announced its third-quarter financial results for 2023, reporting a record net revenue of $23.4 million, marking a 72% increase from the same period last year. The company attributed this growth to the robust sales of its brands, ILUVIEN and YUTIQ. Alimera also reported positive adjusted EBITDA of $5.4 million for the quarter.
Key takeaways from the call:
Alimera Sciences ' representative, Rick Eiswirth, discussed the seasonality of YUTIQ sales in the U.S. and internationally during the earnings call. He explained that sales typically slow down in January and February as doctors reevaluate insurance coverage due to new deductible years and modified insurance plans. Additionally, Eiswirth mentioned seasonality in the first quarter due to budget resets in Europe and in Q3 related to the European and U.S. holiday seasons.
Eiswirth reported that $8.9 million of the quarter's revenue came from YUTIQ sales. The company is on track to deliver over $100 million in revenue in 2024. However, Eiswirth stated that they would no longer provide specific guidance on the breakdown between YUTIQ and ILUVIEN product revenues. The share count for the past quarter was 32 million, with 53.4 million shares currently outstanding.
Eiswirth also provided updates on the ongoing Protocol AL trial, a lengthy trial with an enrollment target of 600 patients. Enrollment is expected to start in late Q4 this year. However, it will likely be a multiyear trial before any readout is available. The trial is being run by the DRCR, and Alimera does not control the timeline. Eiswirth concluded the call by expressing excitement about sharing progress in the next earnings report.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.
Written By: Investing.com
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.