Probably not anytime soon. If Iluvien is rejected on Thursday ALIM probably goes down to low $2's or even $1's. They still have Europe so long term it will probably see $4's again. If by chance they get approved on Thursday then ALIM probably goes north of $10 as it was trading there a few years ago before the FDA rejected Iluvien.
And IF they're approved? I'm certain the third time's the charm here. It is stated in a way that it should be approved and move forward - even at $4 / $4.50, it's a bargain to potential Pharm companies to buy.