Alimera Sciences, Inc. (NASDAQ:ALIM) Q4 2023 Earnings Call Transcript

We’ve had sort of we call the normal attrition. We have some of the people that we have decided to turnover in the sales force. We have not had too many people need to go to competitors or anything like that this year because I think we’ve got a pretty strong culture here but we’ll always have some turnover in the back half of that sales team. Todd, I don’t know if you have anything you want to add to that?

Todd Wood: Yes. Yes. I’ll add to that Rick. And as Rick said, OZURDEX is the target. There’s opportunity to displace that competitively. And when we look at messaging the – and we look at our advocates of use. They view the disease a little bit differently earlier, some more severe earlier and then they link the effectiveness of our product to preserving vision and lowering your risk of losing vision. So we really need to leverage those two items and then really clarify where to position it, so it gets positioned earlier in the treatment paradigm.

James Molloy: All right. Great. Thank you. Then maybe a quick housekeeping. Maybe you touched on in the prepared comments already. What was the G&A – the jump in G&A in the fourth quarter?

Rick Eiswirth: So a few items – one-off events during the fourth quarter. There was about $1 million of bad debt expense that we recognized in the fourth quarter that was related to pre-COVID sales of one of our European distributors. And then there’s another $0.5 million of severance expense that we recognized during the fourth quarter. Additionally, we had higher stock-based compensation expense and this was a result of an equity grant to certain employees during the fourth quarter, which also drove a higher G&A balance when you look at things quarter-over-quarter.

James Molloy: Okay. It’s about $2 million or so of one-timers in the quarter?

Rick Eiswirth: Approximately, a little bit higher when you factor in G&A, but you’re in the right ballpark.

James Molloy: Great. Thank you very much for taking the questions.

Rick Eiswirth: Thanks, Jim.

Operator: This concludes the question-and-answer session. I would like to turn the conference back over to Rick Eiswirth for any closing remarks.

Rick Eiswirth: Thank you. Thank you all for participating on today’s call and for your continued interest and support for Alimera. We look forward to sharing our ongoing progress when we report our first quarter results in late April. Thank you all very much and have a wonderful day.

Operator: The conference has now concluded. Thank you for attending today’s presentation. You may now disconnect.