(Reuters) — Alimera Sciences (NSDQ:ALIM), an ophthalmic pharmaceutical company, is in the early stages of exploring strategic alternatives, including a potential sale, according to people familiar with the matter.
The company has reached out to investment banks to seek advice on how it would be valued in a potential sale and who the likely buyers would be, the sources said this week, asking not to be identified because the deliberations are confidential.
Alpharetta, Ga.-based Alimera, which has a market value of around $100 million, did not respond to requests for comment.
A sale process would mark the culmination of a challenging year for Alimera. Its stock price has declined by more than ½ in 2015, in part reflecting difficulties persuading physicians to adopt 1 of its flagships, the Iluvien diabetic macular degeneration drug/device treatment co-developed with pSivida (NSDQ:PSDV).
After 3 rejections, the FDA in September 2014 approved Iluvien.
ALIM shares were trading at $3.02 apiece in mid-afternoon activity today, up 28.0%; PSDV shares were up 2.4% to $3.87.