Inspire Pharmaceuticals reported that fourth-quarter income surged on stronger sales of drug to provide eye diseases.
The Durham-based companys income rose to $29.6 million, up 57 percent from a year earlier.
Inspire continues to lose money, and doesnt design to be essential until 2012. But the net loss of $2.6 million for the fourth entertain was an alleviation from the net loss of $9.7 million a year earlier. And the formula kick Wall Street expectations.
Inspire, that not long ago declared drug industry maestro Adrian Adams as the new CEO, expects income this year to pass $100 million for the initial time. The association is contrast multiform new products, together with a diagnosis for cystic fibrosis.
Sales of the pinkeye diagnosis Azasite rose 67 percent during the fourth entertain to $12.1 million.
"Inspire is singly positioned with a concentration on the ophthalmic and pulmonary featured item markets," Adams said, in a rebuilt statement. "We have an glorious height to move the Company brazen to profitability, together with double-digit income growth, a clever monetary on all sides and a earnest portfolio of late-stage compounds."
Inspire shares rose 35 cents to close at $6.62 on Wednesday.
Adams and alternative association officials will plead the ultimate formula at 10 a.m. today, online here.
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