Inspire Announces Public Offering of Common Stock

Inspire Pharmaceuticals, Inc. (NASDAQ: ISPH) announced today its intention, subject to market and other conditions, to offer $80 million of its common stock in a registered public offering pursuant to its existing shelf registration statement. Inspire also intends to grant to the underwriter of the offering an option to purchase additional shares of common stock to cover over-allotments, if any. Inspire plans to use the proceeds from the common stock offering for general corporate purposes. Deutsche Bank Securities Inc. is acting as sole underwriter of the offering.

Inspire has filed a registration statement, as well as a prospectus supplement and an accompanying prospectus, with the Securities and Exchange Commission (SEC) for the offering to which this communication relates. The prospectus supplement and accompanying prospectus relating to the offering may be obtained, when available, by sending a request to Deutsche Bank Securities Inc., Attn: Prospectus Department, 100 Plaza One, Jersey City, NJ 07311, Telephone number: +1-800-503-4611, Email: prospectusrequest@list.db.com.

This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sales of these securities in any jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such jurisdiction.

Forward-Looking Statements

The forward-looking statements in this news release relating to management's expectations and beliefs are based on preliminary information and management assumptions. These statements are based upon the current beliefs and expectations of Inspire’s management and are subject to significant risks and uncertainties. Specifically, no assurances can be made with respect to: Inspire’s successful completion of the proposed offering on the anticipated terms or at all; the underwriter's exercise of its over-allotment option; and Inspire’s use of the proceeds of the offering. Such forward-looking statements are subject to a wide range of risks and uncertainties that could cause results to differ in material respects, including those relating to product development, revenue, expense and earnings expectations, intellectual property rights, competitive products, results and timing of clinical trials, success of marketing efforts, the need for additional research and testing, delays in manufacturing, funding, and the timing and content of decisions made by regulatory authorities, including the U.S. Food and Drug Administration. Further information regarding factors that could affect Inspire's results is included in Inspire's filings with the SEC. Inspire undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances after the date hereof.