Alimera Sciences Terminates Equity Purchase Agreement
Alimera Sciences, Inc. (ALIM)
Last alimera sciences, inc. earnings: 4/29 04:00 pm
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US:NASDAQ Investor Relations:
investor.alimerasciences.com/investor-relations
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Source: GlobeNewswire
ATLANTA, Nov. 13, 2019 (GLOBE NEWSWIRE) -- Alimera Sciences, Inc. (Nasdaq: ALIM) (“Alimera”), a leader in the commercialization and development of prescription ophthalmology treatments for the management of retinal diseases, announces that it has terminated its $20.0 million common stock purchase agreement with Lincoln Park Capital Fund, LLC (“LPC”), effective November 12, 2019. “After assessing our expectations for the remainder of this year and plans for 2020, we have made the decision to terminate our equity purchase agreement. Having completed the third quarter of 2019 at an annualized revenue run rate in excess of $50 million, we believe we have sufficient cash on hand to fund our operations throughout 2020,” said Rick Eiswirth, president and CEO of Alimera. “Currently we believe that our common stock is significantly undervalued and we have no plans to issue equity at these levels. We continue to expand the usage of ILUVIEN both domestically and internationally and believe
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