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SEC investigates Inspire

Executive Summary

Securities & Exchange Commission opens a formal investigation into trading of Inspire Pharmaceuticals' stock around the time unsuccessful Phase III trial results were released in February for diquafosol for the treatment of dry eye, the firm says Sept. 7. On Feb. 8, one day prior to the announcement that the trial had not met its primary endpoint of improvement in corneal clearing, Inspire's stock closed at $15.90. It opened Feb. 9 at $9.50. The firm held a conference call that day at 8:30 a.m. EST to discuss the results. Inspire and one director have been subpoenaed...

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