J.P. Morgan Keeps Inspire Pharmaceuticals Rating
J.P. Morgan keeps neutral on Inspire Pharmaceuticals (ISPH ).
Analyst Maged Shenouda says although there were trends toward efficacy for INS327217, he anticipated a high risk. He says he's not surprised that study didn't meet its primary objective, and says he would be surprised if Inspire continues to develop the drug.
Shenouda thinks Inspire should focus on more promising partnerships, such as its program with Allergan for dry-eye, which he estimates will generate about $390 million in peak sales in 2006.