Alimera Sciences gains 14% after $37.5M private placement

Alimera Sciences (ALIM) was one of the day's biggest gainers, +13.9% after announcing it had obtained a commitment from non-affiliated institutional investors to purchase $37.5M in ALIM common stock.

The cash generated from the placement should provide capital toward the commercialization of back-of-the-eye disorder drug, Iluvien, in Europe, and the ongoing pursuit of FDA approval in the U.S.

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