Inspire's stock price jumps on news of denufosol success

DURHAM, N.C. Inspire Pharmaceuticals’ stocks rose by almost 35 percent on Friday, after the company announced that its late-stage cystic fibrosis drug denufosol improved patients’ lung function, according to Forbes. The drug is designed to improve breathing by moistening the mucus surfaces and clearing out bacteria and viruses.

The company said the drug was well-tolerated and patient retention rates were high. The incidence of adverse events, such as cough, was similar for both groups.

Cowen analyst Ian Sanderson said he expects the company to ask for Food and Drug Administration approval in late 2009. Sales could reach $20 million in 2010, $50 million in 2011 and $80 million in 2012, he said.