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Inspire reports first quarter results

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DURHAM, N.C. — Inspire Pharmaceuticals reported a first quarter net loss of $12.4 million, increased from a net loss of $7.7 million in the same period 1 year ago. Revenues for the first quarter were $600,000, reflecting the first revenue from its allergy drug, the company announced in a news release.

Elestat (epinastine) has been approved as a treatment for allergic conjunctivitis and is being commercialized by Allergan, the company noted. Elestat was launched in the United States in February.

Inspire executives said in the press release that they expect development activities associated with the company’s diquafosol and retinal detachment programs to increase. Protocols are being finalized for phase 3 diquafosol trials. A phase 2 retinal detachment trial is continuing enrollment, the company noted.

Inspire also noted it expects to begin recording revenue from Restasis (cyclosporine) during the second quarter. Restasis, which was approved for the treatment of dry eye, is also marketed by Allergan.