Key Developments For Inspire Pharmaceuticals Inc
Inspire Pharmaceuticals Inc (ISPH.O) (Consolidated Issue listed on NASDAQ Global Market)
Inspire Pharmaceuticals, Inc. Reiterates FY 2009 Revenue Outlook
Inspire Pharmaceuticals, Inc. reiterated fiscal 2009 guidance for aggregate revenue to be in the range of $80-$90 million. According to Reuters Estimates, analysts are expecting the Company to report revenues of $85 million for the same period.
Inspire Pharmaceuticals, Inc. Completes Patient Enrollment In Three Late-Stage Clinical Trials In Cystic Fibrosis, Dry Eye and Blepharitis
Inspire Pharmaceuticals, Inc. announced that patient enrollment is complete in three of its late-stage clinical trials. The Company announced that TIGER-2, the Company's second Phase 3 pivotal clinical trial (Trial 08-110) with denufosol tetrasodium inhalation solution for the treatment of cystic fibrosis (CF), has completed patient enrollment. TIGER-2 is a 48-week trial comparing 60 mg of denufosol to placebo, administered three-times daily by jet nebulizer, in a targeted 450 CF patients. The Company expects to have top-line results from TIGER-2 in the first quarter of 2011. The Company also announced tha patient enrollment is complete in its Phase 3 clinical trial (Trial 03-113) with PROLACRIA, the proposed U.S. tradename for diquafosol tetrasodium ophthalmic solution 2%, for the treatment of dry eye disease. This is a six-week trial comparing PROLACRIA to placebo, administered four-times daily as eye drops, in a targeted 450 dry eye patients. The trial is based on a Special Protocol Assessment (SPA) agreement with the U.S. Food and Drug Administration (FDA). The Company expects to have top-line results from this trial in the first quarter of 2010.
Inspire Pharmaceuticals, Inc. Announces Closing of $115 Million Public Offering
Inspire Pharmaceuticals, Inc. announced the closing of its previously announced public offering of 22,222,223 shares of its common stock. The Company also announced that the underwriter exercised in full its over allotment option to purchase an additional 3,333,332 shares, bringing the total shares sold to 25,555,555 at a price of $4.50 per share for gross proceeds of $115 million. Net proceeds were $109 million, after deducting underwriting discounts and estimated offering expenses. Deutsche Bank Securities Inc. acted as the sole underwriter of this offering.
Inspire Pharmaceuticals, Inc. Announces Pricing of $100 Million Common Stock Offering
Inspire Pharmaceuticals, Inc. announced the pricing of its previously announced public offering of its common stock at a price to the public of $4.50 per share and an increase in the offering size to 22.2 million shares. Inspire has granted Deutsche Bank Securities Inc., the sole underwriter of the offering, an option to purchase up to an additional 3.3 million shares of common stock to cover over-allotments, if any. All of the shares in the offering are being offered by Inspire. Inspire expects the offering to close on August 10, 2009.
Inspire Pharmaceuticals, Inc. Announces Public Offering of Common Stock
Inspire Pharmaceuticals, Inc. announced its intention to offer $80 million of its common stock in a registered public offering pursuant to its existing shelf registration statement. Inspire also intends to grant to the underwriter of the offering an option to purchase additional shares of common stock to cover over-allotments, if any. Inspire plans to use the proceeds from the common stock offering for general corporate purposes. Deutsche Bank Securities Inc. is acting as sole underwriter of the offering.
