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Article: INSPIRE COMES UP SHORT IN PHASE III STUDY; STOCK FALLS 73 PERCENT.(Inspire Pharmacueticals Inc.)(Brief Article)
- Article from:
- BIOWORLD Today
- Article date:
- January 17, 2002
- Author:
CopyrightCOPYRIGHT 2002 A Thomson Healthcare Company. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Inspire Pharmaceuticals Inc. said it's not likely that the first Phase III trial of its lead product for dry eye will reach its endpoints. The negative news sent Inspire's stock tumbling 73 percent.
Since preliminary results of the first Phase III study of INS365 Ophthalmic failed to meet the primary efficacy objective, Christy Shaffer, president and CEO of Durham, N.C.-based Inspire, told BioWorld Today that it's not probable that final results will be much different. She expects those results in the next month or so.
Inspire's stock (NASDAQ:ISPH) closed Wednesday at $4.15, down $11.36.
A second Phase III study is ongoing, and efficacy ...