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12:00 AM
 | 
Nov 21, 2011
 |  BioCentury  |  Analyst Picks & Changes

Analyst picks & changes

Analyst picks & changes

Company Bank Analyst Coverage Opinion Wk chg 11/18 cls
Alimera Sciences Inc. (NASDAQ:ALIM) Cowen Simos Simeonidis Downgrade Neutral (from market outperform) $1.29 -34%
Simeonidis downgraded after FDA issued a second complete response for an NDA for Alimera's Iluvien to treat diabetic macular edema (DME) associated with diabetic retinopathy. According to Alimera, FDA said the "significant" risks of adverse events in the Phase III FAME trials were not outweighed by the benefits and asked the company to conduct two additional trials (see BioCentury, Nov. 14). Simeonidis believes the trials will take 3-5 years and a "significant amount of capital." He is not optimistic about an EU decision for the injectable insert that delivers fluocinolone acetonide, which he anticipates in 1H12. Alimera has rights from pSivida Corp. (NASDAQ:PSDV; ASX:PVA).
Amylin Pharmaceuticals Inc....

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