Replies to post #270 on Alimera Sciences Inc (ALIM)

[Guynms26]

Indeed! Wonder what's coming? Tomorrow should be interesting. I would love to see $4 again and more. This should reach $6 easily with Europe approving it.

[surf1944]

9:57AM Alimera Sciences receives Marketing Authorization in France for the treatment of chronic diabetic macular edema (ALIM) 3.10 +0.13 : Co announced the National Security Agency of Medicines and Health Products (L'Agence Nationale de Securite du Medicament et des Produits de Sante) has granted marketing authorization to ILUVIEN for the treatment of vision impairment associated with chronic diabetic macular edema (DME) considered insufficiently responsive to available therapies. This marketing authorization follows the completion of the Decentralized Regulatory Procedure (DCP) in the European Union (EU), in which the Medicines and Healthcare products Regulatory Agency (MHRA) in the United Kingdom, serving as the Reference Member State (RMS), delivered a positive outcome for ILUVIEN along with six Concerned Members States (CMS), specifically Austria, France, Germany, Italy, Portugal and Spain. The French authorization is the fourth national approval in the EU, preceded by Austria, Portugal and the U.K.

7:01AM Alimera Sciences agrees to sell $40 mln of convertible preferred stock (ALIM) 2.97 : Co announced that it has entered into a securities purchase agreement with a group of institutional investors, including both existing and new investors, for a $40 mln Series A Convertible Preferred Stock financing. Alimera intends to use the net proceeds of this offering to fund the development and commercialization of ILUVIEN and for the other working capital purposes permitted under the Purchase Agreement. Palo Alto Investors acted as the lead investor in the offering, with Sofinnova Ventures and New Enterprise Associates also participating. The Purchase Agreement provides for the sale of 1 mln shares of the Co's Series A Preferred and warrants to purchase an additional 300,000 shares of Series A Preferred. For each unit consisting of one share of Series A Preferred and a Warrant to purchase .30 of a Share of Series A Preferred, the Investors have agreed to pay $40.00, resulting in gross proceeds to the Co of ~$40 mln, before deducting expenses payable by the Co. Each share of Series A Preferred is initially convertible into ~13.75 shares of the Co's common stock, based on an initial conversion price of $2.91 per share.