Company profile

Ticker
ALIM
Exchange
CEO
Richard S. Eiswirth
Employees
Incorporated in
Location
Fiscal year end
SEC CIK

ALIM stock data

(
)

Investment data

Data from SEC filings
Securities sold
Number of investors

Calendar

6 May 20
10 Jul 20
31 Dec 20

News

Company financial data Financial data

Quarter (USD) Mar 20 Dec 19 Sep 19 Jun 19
Revenue 14.54M 17.35M 12.85M 10.86M
Net income -1.2M 498K -3.14M -5.04M
Diluted EPS -0.24 -2.04 -0.04 -0.07
Net profit margin -8.24% 2.87% -24.44% -46.41%
Operating income 218K 1.43M -1.72M -3.59M
Net change in cash 2.82M 1.52M -4.25M -937K
Cash on hand 12.24M 9.43M 7.9M 12.16M
Cost of revenue
Annual (USD) Dec 19 Dec 18 Dec 17 Dec 16
Revenue 53.94M 46.6M 35.91M 34.33M
Net income -10.44M -16.38M -22M -33.17M
Diluted EPS -2.19 3.71 -0.33 -0.63
Net profit margin -19.36% -35.16% -61.26% -96.62%
Operating income -5.27M -9.67M -16.45M -27.85M
Net change in cash -3.62M -11.02M -6.91M -96K
Cash on hand 9.43M 13.04M 24.07M 30.98M
Cost of revenue 4.68M 3.44M 2.34M

Financial data from company earnings reports

Date Owner Security Transaction Code 10b5-1 $Price #Shares $Value #Remaining
18 Jun 20 Pizzo Peter J. III Stock Option Common Stock Grant Aquire A No 6.7 3,333 22.33K 3,333
18 Jun 20 Szela Mary T Stock Option Common Stock Grant Aquire A No 6.7 3,333 22.33K 3,333
18 Jun 20 Snisarenko John Stock Option Common Stock Grant Aquire A No 6.7 3,333 22.33K 3,333
18 Jun 20 Largent James R Stock Option Common Stock Grant Aquire A No 6.7 3,333 22.33K 3,333
18 Jun 20 Myers C. Daniel Stock Option Common Stock Grant Aquire A No 6.7 3,333 22.33K 3,333
17.7% owned by funds/institutions
13F holders
Current Prev Q Change
Total holders 20 2 +900.0%
Opened positions 19 0 NEW
Closed positions 1 31 -96.8%
Increased positions 0 0
Reduced positions 0 1 EXIT
13F shares
Current Prev Q Change
Total value 3.48M 1.52M +128.6%
Total shares 891.26K 200.92K +343.6%
Total puts 0 0
Total calls 0 0
Total put/call ratio
Largest owners
Shares Value Change
Avoro Capital Advisors 416K $1.6M NEW
Worth Venture Partners 127.33K $509K NEW
Vanguard 118.44K $474K NEW
Renaissance Technologies 76K $304K NEW
Royce & Associates 61.13K $235K NEW
JW Asset Management 27.55K $110K NEW
Bridgeway Capital Management 25.99K $100K NEW
Geode Capital Management 13.36K $51K NEW
MS Morgan Stanley 10.57K $42K NEW
BLK BlackRock 10.53K $42K NEW
Largest transactions
Shares Bought/sold Change
Avoro Capital Advisors 416K +416K NEW
Palo Alto Investors 0 -200.92K EXIT
Worth Venture Partners 127.33K +127.33K NEW
Vanguard 118.44K +118.44K NEW
Renaissance Technologies 76K +76K NEW
Royce & Associates 61.13K +61.13K NEW
JW Asset Management 27.55K +27.55K NEW
Bridgeway Capital Management 25.99K +25.99K NEW
Geode Capital Management 13.36K +13.36K NEW
MS Morgan Stanley 10.57K +10.57K NEW

Financial report summary

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Risks
  • We rely on a single manufacturer for ILUVIEN, a single manufacturer for the ILUVIEN applicator and a single manufacturer for ILUVIEN’s active pharmaceutical ingredient. Our business would be seriously harmed if any of these third parties are unable to satisfy our demand and alternative sources are not available.
  • We must replace our key third-party manufacturer of certain component parts of the ILUVIEN injector before our manufacturing contract with the manufacturer expires on September 30, 2020, and we may be unable to replace that third party on favorable terms in a timely manner, or at all.
  • Materials necessary to manufacture ILUVIEN may not be available on commercially reasonable terms, or at all.
  • We depend on the commercial success of our only product, ILUVIEN, which in the near term will depend almost entirely on our ability to successfully commercialize ILUVIEN on our own in the countries where we sell direct, and on our distributors’ ability to successfully commercialize ILUVIEN in other countries.
  • Our existing cash may be inadequate to fund our operations and support our growth.
  • The terms of our Loan and Security Agreement with Solar Capital Ltd. (Solar Capital) require us to meet certain operating covenants and place restrictions on our operating and financial flexibility.
  • Regulatory agencies may impose limitations on the indicated uses for which ILUVIEN may be marketed, which would be adverse to our business.
  • The manufacture and packaging of pharmaceutical products such as ILUVIEN are subject to the requirements of the FDA and similar foreign regulatory entities. If we or our third-party manufacturers fail to satisfy these requirements, our product development and commercialization efforts may be materially harmed.
  • Failure to comply with government regulations regarding the sale and marketing of our products could harm our business.
  • Maintaining our commercial infrastructure is a significant undertaking that requires substantial financial and managerial resources, and we may not be successful in our efforts or we may experience difficulties with these efforts. We
  • If we fail to comply with our obligations in the agreements under which we license development or commercialization rights to products or technology from third parties, we could lose license rights that are material to our business.
  • Regulatory approval for any approved product is limited by the regulatory authorities to those specific indications for which clinical safety and efficacy have been demonstrated.
  • We face substantial competition, which may result in others discovering, developing or commercializing products before or more successfully than we do.
  • We may not be successful in our efforts to expand our portfolio of ophthalmic products.
  • We may acquire additional businesses or form strategic alliances in the future, and we may not realize the benefits of those acquisitions or alliances.
  • If we lose key management personnel, or if we fail to recruit additional highly skilled personnel, it will impair our ability to identify, develop and commercialize ILUVIEN and any future products or product candidates.
  • We have incurred operating losses in each year since our inception and may continue to incur losses.
  • Our recurring losses from operations raise substantial doubt regarding our ability to continue as a going concern.
  • Our quarterly operating results and cash flows may fluctuate significantly.
  • Our ability to use our net operating loss carry-forwards may be limited.
  • We incur significant costs as a result of operating as a public company, and our management is required to devote substantial time to comply with various securities laws and regulations and Nasdaq listing requirements.
  • If we fail to maintain proper and effective internal control over financial reporting, our operating results and our ability to operate our business could be harmed.
  • If the interpretations, estimates or judgments we use to prepare our financial statements prove to be incorrect, we may be required to restate our financial results, which could have a number of material adverse effects on us.
  • Product liability lawsuits could divert our resources, reduce the commercial potential of our products and result in substantial liabilities, which insurance may not cover.
  • Our internal information technology systems, or those of our third-party contract research organizations (CROs) or other contractors or consultants, may fail or suffer security breaches, loss or leakage of data and other disruptions, which could result in a material disruption of certain parts of our business, compromise sensitive information related to our business or prevent us from accessing critical information, potentially exposing us to liability or otherwise adversely affecting our business.
  • If we use hazardous and biological materials in a manner that causes injury or violates applicable law, we may be liable for damages.
  • Prolonged economic uncertainties or downturns, as well as unstable market, credit and financial conditions, may exacerbate certain risks affecting our business and have serious adverse consequences on our business.
  • The term loan under our Solar Loan Agreement matures on July 1, 2024, and our interest rate is based on LIBOR. As a result, we are exposed to the risks associated with the discontinuation of LIBOR by the anticipated January 1, 2022 deadline.
  • The U.K.’s leaving the EU, or “Brexit,” could have a material adverse effect on us.
  • The regulatory approval of ILUVIEN in any additional countries is uncertain, and our regulatory approval in certain countries is contingent on our ability to sell ILUVIEN in an appropriate time frame. Failure to obtain regulatory approval in additional foreign jurisdictions or maintain regulatory approval in jurisdictions where we have received regulatory approval but have not yet sold ILUVIEN would prevent us from marketing and commercializing ILUVIEN in additional markets, which may have an adverse effect on our business and results of operations.
  • If we or our licensors are unable to obtain and maintain protection for the intellectual property incorporated into our products, the value of our technology and products will be adversely affected.
  • Litigation or third-party claims of intellectual property infringement would require us to divert resources and may prevent or delay our commercialization of ILUVIEN or the development or regulatory approval of other product candidates.
  • If our efforts to protect the proprietary nature of the intellectual property related to our products are inadequate, we may not be able to compete effectively in our markets.
  • We may be adversely affected by the expiration of patents that protect key aspects of ILUVIEN in the near- to medium-term.
  • Third-party claims of intellectual property infringement may prevent or delay our commercialization efforts with respect to ILUVIEN and our discovery, development or commercialization efforts with respect to any future product candidates.
  • We may become involved in lawsuits to protect or enforce our patents or the patents of our licensors, which could be expensive, time consuming and unsuccessful.
  • If we are unable to protect the confidentiality of our proprietary information and know-how, the value of our technology and products could be adversely affected.
  • If we seek to raise additional capital, we may be unable to do so on commercially reasonable terms, the terms on which we obtain the capital may restrict our operations and if the capital we raise is equity or a debt security that is convertible into equity, our stockholders’ investment could be diluted.
  • We are currently not in compliance with the continued listing requirements of The Nasdaq Stock Market (Nasdaq). We believe that Nasdaq will concur with our view that our revenue and total assets as of December 31, 2019 enable us to regain continued listing compliance. If Nasdaq does not concur with our view, however, our common stock could be delisted from The Nasdaq Global Market, which could materially reduce the liquidity of our common stock and have an adverse effect on its market price.
  • Our stock price has been and may continue to be volatile, and the value of an investment in our common stock may decline.
  • Holders of our Series A Convertible Preferred Stock have the ability to significantly influence the outcome of matters submitted for stockholder approval and may have interests that differ from those of our other stockholders.
  • Significant sales of our common stock could depress or reduce the market price of our common stock, cause our shares of common stock to trade below the prices at which they would otherwise trade, or impede our ability to raise future capital.
  • Future sales and issuances of our equity securities or rights to purchase our equity securities, including pursuant to our equity incentive plans, would result in dilution of the percentage ownership of our stockholders and could cause our stock price to fall.
  • The Series A Convertible Preferred Stock contains covenants that may limit our business flexibility.
  • Anti-takeover provisions in our charter and bylaws and in Delaware law could prevent or delay acquisition bids for us that stockholders might consider favorable and could entrench current management.
  • If securities or industry analysts do not publish research or reports or publish unfavorable research or reports about our business, our stock price and trading volume could decline.
Management Discussion
  • We began generating revenue from ILUVIEN in 2013. Revenue from our U.S. distributors and revenue from our partners in the markets in our international segment where we do not sell direct fluctuates depending on the timing of the shipment of ILUVIEN to the distributors and the distributors’ sales of ILUVIEN to their customers.
  • Net revenue increased by approximately $1.6 million, or 12%, to approximately $14.5 million for the three months ended March 31, 2020, compared to approximately $12.9 million for the three months ended March 31, 2019. The increase was primarily attributable to revenue increases in our international segment, including increases of approximately $1.0 million in the international markets where we sell direct and $340,000 in the international markets where we sell to distributors. The increase was also attributable to a revenue increase of approximately $300,000 in the U.S. Importantly, we achieved this growth despite the temporary shortage of inventory in our U.S. business, as well as the end of quarter negative impact of the COVID-19 pandemic.
  • The increase in our net revenue in the first quarter of 2020 over the same period in 2019 is not indicative of our future operating results or of future financial condition.
Content analysis ?
Positive
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Uncertain
Constraining
Legalese
Litigous
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