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Alimera gets unwelcome Christmas message from FDA

Date December 24, 2010

At this stage the details released by Alimera Sciences on the complete response letter for Iluvien, a treatment for diabetic macular oedema, point to a delay rather than anything more terminal.

But with expectations high for US approval and launch early next year, even a delay is a big disappointment for the newly-listed company, which is likely to see its shares fall substantially below their IPO price after the Christmas break. Such a reaction is understandable; the Georgia company was forecast to turn a profit next year, an eventuality which now looks very unlikely, and raises the possibility that additional funds will have to be found.

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