Inspire Pharmaceuticals, Inc. (NASDAQ:ISPH) has announced that it has received approval for its non qualified stock option and restricted stock unit grants to the company’s President and CEO, Adrian Adams. The grants were approved pursuant to the NASDAQ Marketplace Rule 5635(c)(4). The company granted Mr. Adams the Options to purchase 350,000 shares of the company’s common stock on February 22, 2010. The Options granted to Mr. Adams have an exercise price of $6.35, the company’s common stock closing price on the NASDAQ Global Market on the day of the grant. The company has also agreed to grant Mr. Adams 650,000 RSUs as soon as practicable after the registration of common stock shares underlying the RSUs.
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Inspire Pharmaceuticals, Inc. (Inspire) biopharmaceutical company focused on researching, developing and commercializing prescription pharmaceutical products for ophthalmic and pulmonary diseases. The Company’s portfolio of products and product candidates include Elestat, Restasis, AzaSite, Prolacria and Denufosol tetrasodium. The advanced compounds in its clinical pipeline are Prolacria for dry eye and denufosol tetrasodium for cystic fibrosis, which are both in Phase III development and AzaSite for blepharitis, which is beginning Phase II development.
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