SEC Threatens Inspire With Civil Action

Law360, New York (October 23, 2006, 12:00 AM EDT) -- Inspire Pharmaceuticals Inc. disclosed Monday that it may face charges from the Securities and Exchange Commission over a Phase 3 clinical trial for its dry-eye product candidate, Prolacria.

The Durham, N.C.-based biopharmaceutical company said it received a Wells Notice last Thursday, which means the SEC has preliminarily decided to recommend an enforcement action.

However, the notice does give Inspire time to respond to the SEC in an attempt to resolve the matter, which resulted from a previously disclosed investigation. Inspire has said it and its officers...
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