This article is more than 5 years old. Information may no longer be current.
Inspire shows improved performance in third quarter
Click Here to Manage Email Alerts
DURHAM, N.C. — Inspire Pharmaceuticals posted revenues of $3.8 million during the third quarter of 2004, compared with no revenues in the same quarter of 2003, the company announced in a press release. This reflected revenue from the company’s co-promotion of Elestat (epinastine) and its second full quarter of revenue from co-promotion of Restasis (cyclosporine), according to the release. Both drugs are co-promoted with Allergan: Restasis for dry eye and Elestat for ocular itching associated with allergic conjunctivitis.
During the quarter, the company completed enrollment in a phase 3 trial for diquafosol, another treatment for dry eye, and raised $77.1 million in net proceeds from an initial public offering.
In other news from Inspire, the company announced it has licensed several patents from the Wisconsin Alumni Research Foundation for use in developing medications to treat glaucoma. Company executives said in a press release that the patents are based on a “first-in-class, novel mechanism that targets the underlying cause of the disease.”