Alimera shares leap on FDA filing for lead program approval

Alpharetta, GA-based Alimera Sciences managed to buck a rough morning on Wall Street as its shares were buoyed by the announcement that the developer has submitted its lead therapy of diabetic macular edema for FDA approval. ALIM shares were up about eight percent on the news, touching $8.70. Alimera submitted Iluvien, (fluocinolone acetonide intravitreal insert), a sustained drug delivery system which releases tiny quantities of fluocinolone acetonide for DME. And the company says that it...

Alimera slashes IPO price while Codexis delivers at low end

The biotech industry got a mixed read on investors' appetite for IPOs yesterday. The biotech Codexis launched its IPO at the low end of its price range on Wednesday, raising $78 million as it continues to build its business for enzymes that are used by drug manufacturers as well as in biofuels. Alimera Sciences, meanwhile, didn't fare as well. The Alpharetta, GA-based biotech sold 6.55 million shares at a bargain basement price of $11 after trying to push them for $15 to $17. Alimera raised $72...