Alimera Files IPO as Experts Predict Capital Markets Crisis

Alimera Sciences Inc. filed to raise up to $75 million in an initial public offering, becoming only the eighth biotech this year to join the IPO queue. The Alpharetta, Ga.-based company plans to list on Nasdaq under the ticker "ALIM." Underwriters for the deal include Credit Suisse Securities LLC, Citigroup, Cowen and Co. LLC, and Leerink Swann LLC. Alimera's proposal follows filings from Aldagen Inc., BioTrove Inc., Zogenix Inc., CyDex Pharmaceuticals Inc., Phenomix Corp., Bayhill Therapeutics Inc. and Omeros Corp. Bayhill withdrew its filing last week due to market conditions, which are unfavorable, to say the least. While 27 biotechs priced IPOs in the first half of last year, only four have managed the feat this year. Two - BHK Inc. and MolMed SpA - listed on foreign exchanges. One - RXi Pharmaceuticals Corp. - was a... [read full story]