Inspire Pharmaceuticals filed plans to raise as much as $150 million by selling common stock, debt or other securities on Wall Street.
The so-called shelf registration submitted with the Securities and Exchange Commission today, allows the publicly traded company to sell new securities as needed.
Inspire disclosed that it could use the money raised for a variety of purposes, including repaying debt, capital expenditures and acquisitions.
Inspire sells drugs to treat various eye diseases and also is testing an experimental treatment for cystic fibrosis with the hopes of expanding into the market for pulmonary medicines.
The company's board recruited drug industry veteran Adrian Adams as its new CEO earlier this year.