This article is more than 5 years old. Information may no longer be current.

Inspire reports $63.7 million net loss, 31% total revenue increase for 2007

Add topic to email alerts

Receive an email when new articles are posted on

Please provide your email address to receive an email when new articles are posted on .

Subscribe

Added to email alerts

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

You've successfully added to your alerts. You will receive an email when new content is published.

Click Here to Manage Email Alerts

Back to Healio

We were unable to process your request. Please try again later. If you continue to have this issue please contact customerservice@slackinc.com.

Back to Healio

DURHAM, N.C. — Inspire Pharmaceuticals reported a net loss of $18.1 million, or $0.51 per share, for the fourth quarter of 2007 and a net loss of $63.7 million, or $1.61 per share, for the full year, the company announced.

Inspire reported $13.9 million in total revenue for the fourth quarter of 2007, a 64% increase compared with $8.5 million for the fourth quarter of 2006. Revenue for the full year totaled $48.7 million, up 31% from $37.1 million for 2006, according to a press release from the company.

Fourth-quarter co-promotion revenue from net sales of Restasis (0.05% cyclosporine A, Allergan) was $7.4 million, a 73% increase from $4.3 million during the fourth quarter of 2006. Full-year co-promotion revenue from Restasis net sales totaled $24.4 million, compared with $15.5 million for 2006.

Co-promotion revenue from net sales of Elestat (0.05% epinastine HCl ophthalmic solution) totaled $4.4 million, up 6% from $4.2 million for the fourth quarter of 2006. Full-year revenue from net sales of Elestat totaled $21.1 million, comparable to the $20.3 million in net sales for 2006, the release said.

Revenue from AzaSite (1% azithromycin ophthalmic solution), launched in August 2007, totaled $2 million for the fourth quarter of 2007 and $3.1 million for the full year.

The company reported a $10.9 million increase in research and development expenses, which included a $13 million milestone payment in the first quarter of 2007 to secure licensing rights to commercialize AzaSite in the United States and Canada.

Inspire expects to post between $62 million and $76 million in total revenue in 2008 and operating expenses to range from $109 million to $129 million, the release said.