Insmed first-quarter loss widens on a YOY basis
Source: IRIS | 04 May, 2017, 02.14PM
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 Insmed Incorporated (INSM) saw its loss widen to $37.41 million, or $0.60 a share for the quarter ended Mar. 31, 2017. In the previous year period, the company reported a loss of $33.53 million, or $0.54 a share. The company has not recorded any revenues for the current as well as previous quarter. Operating loss for the quarter was $35.97 million, compared with an operating loss of $33.07 million in the previous year period. “We remain focused on the execution of the phase 3 CONVERT study of LAI in NTM lung disease and on nonclinical activities for INS1007 as a treatment for non-CF bronchiectasis in preparation for the planned initiation of a phase 2 dose-ranging study,” said Will Lewis, president and chief executive officer of Insmed. “As we advance toward our top-line results for the CONVERT study in the second half of 2017, we are also making progress in our regulatory and pre-commercial plans to support LAI. We continue to be committed to a disciplined use of capital while carrying out these important clinical, pre-commercial and operational activities.” Working capital drops significantly
Insmed Incorporated has witnessed a decline in the working capital over the last year. It stood at $108.35 million as at Mar. 31, 2017, down 53.49 percent or $124.59 million from $232.95 million on Mar. 31, 2016. Current ratio was at 5.66 as on Mar. 31, 2017, down from 10.12 on Mar. 31, 2016.
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