On a day when the Dow Jones Industrial Average
The biggest mover was Alimera Sciences
This is the second CRL Iluvien has received, although analysts had expected a better result on its second go-around. The FDA isn't convinced that the benefits of the treatment for diabetic macular edema outweigh the risks and is requiring two additional trials. Alimera doesn't have the money to run those tests, which would probably result in additional debt, dilution, or both. A buyout could be possible, but it's a stretch to think other drugmakers are licking their chops over a twice-rejected treatment. So investors shouldn't count on Pfizer
Alimera's next move is to meet with the FDA. That won't get Iluvien a green light, but it could illuminate a path toward approval.
Or look at the trio of obesity-drug makers -- VIVUS, Orexigen Therapeutics
Any way you cut it, Alimera investors have a tough road ahead.
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