Alimera gets unwelcome Christmas message from FDA

Source EP Vantage
Company Alimera Sciences, pSivida 
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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