UPDATE 1-Inspire posts narrower Q1 loss

* Q1 loss $0.34/shr vs loss $0.46/shr last year

* Q1 revenue jumps 48 pct

May 7 (Reuters) - Inspire Pharmaceuticals Inc (ISPH.O) posted a narrower quarterly loss, helped by lower expenses.

For the first quarter, the company posted a net loss of $19.4 million, or 34 cents a share, compared to a net loss of $25.9 million, or 46 cents a share, a year ago.

The latest quarter included a restructuring charge of 3 cents a share.

Revenue rose 48 percent to $14.3 million.

Analysts were expecting a loss of 24 cents, before special items, on revenue of $15.7 million, according to Reuters Estimates.

Operating expenses fell 7 percent to $33.0 million as Inspire reduced promotional activities. The company also lowered research and development expenses as a result of discontinued programs and re-focused R&D activities on later-stage clinical programs.

Shares of the company closed at $4.58 Wednesday on Nasdaq. (Reporting by Vidya L Nathan in Bangalore; Editing by Anne Pallivathuckal)