Insmed: 3Q Earnings Snapshot
BRIDGEWATER, N.J. (AP) _ Insmed Inc. (INSM) on Wednesday reported a loss of $60.7 million in its third quarter.
The Bridgewater, New Jersey-based company said it had a loss of 68 cents per share.
The results fell short of Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was for a loss of 66 cents per share.
The biopharmaceutical developing inhaled treatments for patients battling rare lung diseases posted revenue of $38.9 million in the period, which beat Street forecasts. Three analysts surveyed by Zacks expected $34.7 million.
Insmed shares have increased 28% since the beginning of the year. The stock has climbed 10% in the last 12 months.