Durham-based Inspire Pharmaceuticals, Inc. (NASDAQ: www.inspirepharm.com) has closed the previously announced public offering of 2.53 million shares of its common stock, which included 330,000 shares sold upon exercise by the underwriter, Deutsche Bank Securities Inc., of its over-allotment option in full. The shares were sold at a price to the public of
$17.10 per share. Net proceeds to Inspire from the closing were approximately $42.3 million.
Inspire is a biopharmaceutical company dedicated to discovering, developing and commercializing novel prescription products for diseases with significant unmet medical needs. Inspire has expertise in the therapy areas of ophthalmology and respiratory and is a leader in the field of P2 receptors which are important drug targets in various therapeutic areas, including ophthalmology, respiratory disease,
cardiovascular disease and pain. Inspire’s CEO, Christy Shaffer, is the CED Board Chair-elect for 2005-2006.
Inspire Pharmaceuticals is a CED member.