Alimera Sciences, Inc. (NASDAQ:ALIM) Q1 2019 Earnings Conference Call Transcript

Apr 30, 2019 • 09:00 am ET


Alimera Sciences, Inc. (NASDAQ:ALIM) Q1 2019 Earnings Conference Call Transcript


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Ladies and gentlemen, thank you for standing by. Good morning, and welcome to the Alimera Sciences First Quarter 2019 Financial Results and Corporate Update Conference Call. At this time all participants are in a listen-only mode. (Operator Instructions) After today's presentation, there will be an opportunity to ask questions. (Operator Instructions) Participants of this call are advised that the audio of this conference call is being broadcast live over the Internet and is also being recorded for playback purposes. A replay of the call will be available approximately 1 hour after the end of the call through May 14, 2019.

I would now like to turn the conference over to Scott Gordon, President of Core IR, the company's Investor Relations firm. Please go ahead.

Scott Gordon

Thank you, Nancy, and good morning, everyone. And thank you for participating in today's conference call. Joining me from Alimera's leadership team are Rick Eiswirth, President and Chief Executive Officer; and Phil Jones, Chief Financial Officer.

During this call, management will be making a number of forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that are not historical facts and generally can be identified by terms such as anticipates, estimates, believes, expects, intends, plans, projects, predicts, should, could, potential, may, will, would or the negative of those terms. Forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results, performance or achievements to be materially different from those statements. For details about these risks, please see the company's SEC filings, in particular, the Risk Factors section of the company's annual report on Form 10-K for 2018.

Today's conference call includes adjusted EBITDA, a non-GAAP financial measure that the company believes can be useful in evaluating its performance. You should not consider this additional information in isolation or as a substitute for results prepared in accordance with GAAP. For a reconciliation of this non-GAAP financial measure to net loss, it is most directly comparable GAAP financial measure, see the reconciliation table located in Alimera's earnings release that accompanies this call. The content of this call contains time-sensitive information that is accurate only as of today, April 30, 2019. Except as required by law, Alimera disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call.

It is now my pleasure to turn the call over to Rick Eiswirth. Rick?

Richard S. Eiswirth

Thank you, Scott, and good morning, everyone. We made strong progress in the first quarter of 2019, achieving 34% revenue growth compared to the same period last year, and we obtained regulatory approval for a new indication of ILUVIEN in 17 European countries. This performance is consistent with our objective to accelerate growth in our business in 2019 and 2020 by focusing on four key initiatives.

These initiatives are, number one, driving organic growth of new patient starts on ILUVIEN for diabetic macular edema or DME. We intend to do this by continuing to