Alimera Sciences registers for IPO

Alimera did not disclose the expected size or price range of the IPO, but indicated that the offering price may total up to $75 million. That figure was estimated solely to calculate the company's registration fee and may change, according to the Tuesday filing.

The Alpharetta, Ga.-based company's most advanced product candidate is Iluvien, a treatment for diabetic macular edema, a disease of the retina that affects individuals with diabetes and can lead to blindness. Iluvien is inserted into the patient's eye with a 25-gauge needle, allowing for a self-sealing wound.

The company expects to file a new drug application in the U.S. in the first quarter of 2010.

"We are presently focused on diseases affecting the back of the eye, or retina, because we believe these diseases are not well treated with current therapies and represent a significant market opportunity," the company said in its prospectus.

Alimera plans to use the proceeds from its IPO to develop Iluvien, to repay debt and for general working capital purposes.

For the first quarter ended March 31, the company had a loss after paying preferred dividends, of $34.8 million, compared with a loss of $4.2 million in the 2007 first quarter.

Credit Suisse Securities and Citigroup Global Markets are serving as the IPO's lead underwriters. Cowen and Co. and Leerink Swann LLC are also underwriting the offering.

Alimera plans to list its shares on the Nasdaq Global Market under the symbol "ALIM."