FDA rejects again Alimera eye implant; shares plunge

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FDA rejects again Alimera eye implant; shares plunge

(Reuters) - Alimera Sciences Inc said U.S. health regulators rejected for a third time its eye implant device due to safety concerns, sending its shares down as much as 39 percent. Shares of pSivida Corp, which sold the rights to Iluvien to Alimera in 2005 but is in line for a 20 percent share of profits, also dropped as much as 39 percent. "We view running a new clinical trial as unrealistic, since it will require significant capital that Alimera does not currently have," Cowen and Co analyst Simos Simeonidis wrote in a client note. As of June 30, 2013, Alimera had about $31. ...

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