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Alimera Sciences Reports Third Quarter 2013 Financial Results
Date:11/11/2013

on study in the fourth quarter of 2012. The decrease was also attributable to a reduction of $250,000 in costs related to a consultant engaged to assist with the continued pursuit of regulatory approval of ILUVIEN in the U.S., which was offset by an increase of $210,000 in costs associated with contracting medical science liaisons to engage with retina specialists in the discussion of ILUVIEN in Germany, the United Kingdom and France.

General and administrative expenses in the third quarter of 2013 were $2.1 million, compared to $1.5 million in the third quarter of 2012. The increase was primarily attributable to increased administrative support for Alimera's European team in connection with the commercial launch of ILUVIEN in the United Kingdom and Germany in the second quarter of 2013.

Sales and marketing expenses in the third quarter of 2013 increased to $4.5 million, compared to $1.5 million for the third quarter of 2012. The increase was primarily attributable to increases of approximately $1.9 million in costs associated with contracting with Quintiles Commercial for marketing, brand management, sales promotion and detailing, market access, and pricing and reimbursement support, in addition to other advisory services in the EU beginning in the fourth quarter of 2012.

Net loss attributable to common shareholders for the third quarter of 2013 was $(1.1) million, or $(0.04) per common share, compared with a net loss attributable to common shareholders of $(5.4) million, or $(0.17) per common share, for the third quarter of 2012. Net loss attributable to common shareholders for the third quarter of 2013 benefited from a decrease in the fair value of Alimera's derivative warrant liability resulting in non-cash income of approximately $6.2 million and a non-cash unrealized foreign currency gain of $508,000. The decreased value of the derivative warrant liability was primarily due to a decrease in the fair market value of Al
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SOURCE Alimera Sciences, Inc.
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