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Biotech / Medical : PSDV - pSivida Limited

PSDV 1.220

+14.0%

Mar 29 5:00 PM EST

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From: John McCarthy	4/21/2010 9:14:03 PM
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Alimera Sciences, which is developing an injectable implant to treat eye diseases, raised $72 million by offering 6,550,000 shares at $11.00, below the range of $15.00 to $17.00. Alimera Sciences plans to list on the NASDAQ under the symbol ALIM. Credit Suisse and Citi acted as joint book-running managers on the deal. renaissancecapital.com My Math: $72 Million <$15> Million to PSDV ----------------------- $57 Million ======================= Additionally, ALIM will need: (1) $15 million to establish Sales Force (per Road Show) (2) Pay PSDV $25 million upon FDA approval. (3) Total (1) + (2) = $40 million That (1) + (2) would leave them with a cash balance for product and working capital of $17 million. AND - they expect to ship product by Q1-2011 renaissancecapital.com

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