Insmed: 2Q Earnings Snapshot
BRIDGEWATER, N.J. (AP) _ Insmed Inc. (INSM) on Thursday reported a loss of $66.5 million in its second quarter.
The Bridgewater, New Jersey-based company said it had a loss of 81 cents per share.
The results surpassed Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 85 cents per share.
The biopharmaceutical developing inhaled treatments for patients battling rare lung diseases posted revenue of $30 million in the period, also exceeding Street forecasts. Three analysts surveyed by Zacks expected $24.9 million.
Insmed shares have increased 67% since the beginning of the year. The stock has dropped 12% in the last 12 months.