The following is a summary of the Alimera Sciences, Inc. (ALIM) Q1 2024 Earnings Call Transcript:
Financial Performance:
Alimera Sciences reported a Q1 2024 consolidated global net revenue of $23 million, a 70% increase from Q1 2023, mainly due to the acquisition of YUTIQ and global end-user demand growth.
The company recorded an adjusted EBITDA of $1.8 million in Q1 2024 compared to an EBITDA loss of $2.4 million in Q1 2023.
U.S. net revenue increased by 92% to $14.6 million in Q1 2024 from Q1 2023 significantely influenced by the acquisition of YUTIQ.
The international net revenue increased by 42% to $8.5 million in Q1 2024 with a 53% increase in end-user demand.
Alimera had operational expenses of about $22 million in Q1 2024, mainly due to the acquisition of YUTIQ, compared to around $14.8 million in Q1 2023.
The net loss for Q1 2024 was roughly $6.3 million compared to around $5 million in Q1 2023.
As of March 31, 2024, Alimera had cash equivalents of approximately $14.3 million.
Business Progress:
The company benefited from integrating YUTIQ into its U.S. portfolio.
The UK's NICE issued a final recommendation expanding ILUVIEN's use to a new patient segment suffering from visual impairment due to chronic diabetic macular edema.
Alimera reached its enrolment target for the Phase 4 open-label synchronicity study inherited from EyePoint.
The company increased its term loan agreement with SLR Capital Partners by $5 million.
Alimera launched its non-clinical value program, Amplify, on April 1, 2024.
Alimera produced 4,028 units in Q1 2024, including U.S. and ex U.S. territories.
The company began holding advisory boards to explore opportunities to expand ILUVIEN indications, with vein occlusion as a leading candidate.
The company's Spanish and Italian partners commenced planning to challenge limitations in those countries to potentially increase sales volume.
Operational integration was completed on April 1, 2024, marking the final step in their integration process.
More details: Alimera Sciences IR
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