 Second Quarter and Recent Company Highlights: Consolidated Net Revenue Down 8 Compared to Second Quarter 2019 International Net Revenue Up 89 Compared to Second Quarter 2019 Net Loss of 2.5 Million vs. 5.0 Million in Second Quarter 2019 Adjusted EBITDA Loss of 0.3 Million vs. 2.1 Million in Second Quarter 2019ATLANTA, July 29, 2020 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 financial results for the three months ended June 30, 2020. Alimera will host a conference call on Thursday, July 30, 2020 at 9:00 AM ET to review these financial results and provide an update on corporate developments.The second quarter of 2020 was a successful quarter for Alimera Sciences in the context of the COVID-19 pandemic, having delivered 10 million in revenue, decreasing only 8 versus the second quarter of 2019, despite limited access to patients. We leveraged our geographic diversity and the late 2019 European launch of ILUVIEN for uveitis while managing our expenses. These results led to improvements in net loss and adjusted EBITDA compared to the second quarter of 2019, said Rick Eiswirth, Alimeras President and Chief Executive Officer. As we move through the COVID-19 pandemic, we believe that physicians will see ILUVIEN in a new light. Having not made any changes to our staffing levels across the organization, we believe we are positioned to communicate how ILUVIEN provides significant long-term clinical benefits while reducing the number of visits for high-risk patients. ILUVIEN can also help doctors work through their backlog of patients who have been left untreated or undertreated during the pandemic.Second Quarter 2020 Financial ResultsNet Revenue Consolidated net revenue for Q2 2020 was down 8 to 10.0 million, compared to 10.9 million for Q2 2019.U.S. net revenue was 3.4 million for Q2 2020, down 53 from 7.3 million during the same period in 2019. End user demand, which represents units purchased by physicians and pharmacies from Alimeras U.S. distributors, was 625 units in Q2 2020 compared to 917 units in Q2 2019, a decrease of 32, as a result of lower demand due to COVID-19. Additionally, our distributors lowered their inventory levels and purchased approximately 36 fewer units than they sold to end users as weekly volumes decreased in the second quarter due to COVID-19.International net revenue increased 89 to approximately 6.6 million in Q2 2020, compared to approximately 3.5 million for the same period during 2019, driven primarily by increasing sales behind the posterior uveitis indication in the U.K. and Germany and by increased business in our distributor markets.Operating Expenses Total operating expenses for Q2 2020 decreased by 3.4 million or 26 to 9.9 million, compared to 13.3 million during Q2 2019. Alimera achieved major expense reductions by reducing travel costs, decreasing attendance at medical conferences that were cancelled or converted to virtual meetings and reducing its spending on external commercial and medical activities.Net Loss and Non-GAAP Adjusted EBITDA For Q2 2020, Alimera reported a net loss of approximately 2.5 million, compared to a net loss of 5.0 million for Q2 2019. Adjusted EBITDA, a non-GAAP financial measure defined below, was a loss of approximately 0.3 million for Q2 2020, compared to a loss of approximately 2.1 million for Q2 2019.Net Loss per Share Basic and diluted net loss per share for Q2 2020 was 0.51. This compares to basic and diluted net loss per share for Q2 2019 of 1.06.Cash and Cash Equivalents As of June 30, 2020, Alimera had cash and cash equivalents of approximately 13.5 million, compared to 12.2 million in cash and cash equivalents as of March 31, 2020.Definition of Non-GAAP Financial Measure For purposes of this press release, Adjusted EBITDA is defined as earnings before interest, taxes, depreciation, amortization, stock-based compensation expenses, net unrealized gains and losses from foreign currency exchange transactions, losses on extinguishment of debt and severance expenses. Please refer to the sections of this press release entitled Non-GAAP Financial Measure and Reconciliation of GAAP Net Loss to Non-GAAP Adjusted EBITDA.Conference Call to Be Held July 30, 2020 Management will host a conference call at 9:00 AM ET on Thursday, July 30, 2020, to review financial results and provide an update on corporate developments. Following managements formal remarks, there will be a question and answer session.Participants are asked to pre-register for the call through the following link: Please note that registered participants will receive their dial in number upon registration and will dial directly into the call without delay. Those without internet access or unable to pre-register may dial in by calling: 1-866-777-2509 domestic or 1-412-317-5413 international. All callers should dial in approximately 10 minutes prior to the scheduled start time and ask to be joined into the Alimera Sciences call. The conference call will also be available through a live webcast, which can be accessed through the following link: which is also available through the companys website at webcast replay of the call will be available approximately one hour after the end of the call through October 30, 2020. The replay can be accessed through the above links or by calling 1-877-344-7529 domestic or 1-412-317-0088 international and using access code 10145768. The telephonic replay will be available until August 13, 2020.About Alimera Sciences, Inc. is a pharmaceutical company that specializes in the commercialization and development of prescription ophthalmic pharmaceuticals. Alimera is presently focused on diseases affecting the back of the eye, or retina, because these diseases are not well treated with current therapies and affect millions of people globally. For more information, please visit Financial MeasureThis press release contains a discussion of a non-GAAP financial measure, as defined in Regulation G promulgated under the Securities Exchange Act of 1934, as amended. Alimera reports its financial results in compliance with GAAP but believes that the non-GAAP measure of Adjusted EBITDA provides useful information to investors regarding Alimeras operating performance. Alimera uses Adjusted EBITDA in the management of its business. Accordingly, Adjusted EBITDA for the three and six months ended June 30, 2020 has been presented in certain instances excluding items identified in the reconciliations provided in the table entitled Reconciliation of GAAP Net Loss to non-GAAP Adjusted EBITDA. GAAP net loss is the most directly comparable GAAP financial measure to Adjusted EBITDA. Adjusted EBITDA, as presented, may not be comparable to similarly titled measures reported by other companies because not all companies may calculate Adjusted EBITDA in an identical manner. Therefore, Adjusted EBITDA is not necessarily an accurate measure of comparison between companies.The presentation of Adjusted EBITDA is not intended to be considered in isolation or as a substitute for guidance prepared in accordance with GAAP. The principal limitation of this non-GAAP financial measure is that it excludes significant elements required by GAAP to be recorded in Alimeras financial statements. In addition, Adjusted EBITDA is subject to inherent limitations as it reflects the exercise of judgments by management in determining this non-GAAP financial measure.About ILUVIENILUVIEN fluocinolone acetonide intravitreal implant 0.19 mg is a sustained release intravitreal implant, injected into the back of the eye. With its CONTINUOUS MICRODOSINGTM technology, ILUVIEN is designed to release submicrogram levels of fluocinolone acetonide, a corticosteroid, for up to 36 months, to reduce the recurrence of disease. ILUVIEN enables patients to maintain vision longer with fewer injections. ILUVIEN is approved in the U.S., Canada, Kuwait, Lebanon and the U.A.E. to treat diabetic macular edema DME in patients who have been previously treated with a course of corticosteroids and did not have a clinically significant rise in intraocular pressure. In 17 European countries, ILUVIEN is indicated for the treatment of vision impairment associated with chronic DME considered insufficiently responsive to available therapies and for prevention of relapse in recurrent non-infectious uveitis affecting the posterior segment of the eye NIPU. Alimera does not have the contractual right to pursue approval to treat uveitis in the U.S., and therefore does not have a regulatory license in the U.S. to treat NIPU. For important safety information on ILUVIEN, see: Looking StatementsThis press release contains, and the remarks by Alimeras officers on the conference call may contain, forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, regarding, among other things, Alimeras expectations with respect to a how physicians will view ILUVIEN in light of current circumstances, and b Alimera being positioned to communicate how ILUVIEN provides significant long-term clinical benefits while reducing the number of visits for high-risk patients. 