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Insmed Announces Financial Results for Third Quarter and Nine-Months Ended September 30, 2012
Date:11/7/2012

MONMOUTH JUNCTION, N.J., Nov. 7, 2012 /PRNewswire/ -- Insmed Incorporated (Nasdaq CM: INSM), a biopharmaceutical company dedicated to the development of innovative inhaled pharmaceuticals for the treatment of serious lung infections, today reported results for the third quarter and nine-months ended September 30, 2012.

Key Recent Highlights

  • Appointed Will Lewis, Co-Founder and former President and Chief Financial Officer of Aegerion Pharmaceuticals, Inc. (NASDAQ: AEGR), to the position of President and Chief Executive Officer, and Andrew Drechsler, former Chief Financial Officer of VaxInnate Corporation, to the position of Chief Financial Officer
  • Significantly enhanced financial position through $25.7 million registered direct offering of common stock and $20 million loan agreement with Hercules Technology Growth Capital
  • Granted second composition of matter patent for ARIKACE® by U.S. Patent and Trademark Office, providing exclusivity for ARIKACE through mid-August 2028
  • Phase 3 study (CLEAR-108) of ARIKACE in patients with cystic fibrosis who have Pseudomonas aeruginosa lung infections continues to enroll and remains on schedule for top-line results in mid-2013
  • Phase 2 trial (TARGET-NTM) of ARIKACE in patients with non-tuberculous mycobacteria lung infections continues to enroll and remains on schedule for top-line results by end of 2013
  • "The significant progress and strategic changes made by Insmed in the third quarter have positioned us at the threshold of several significant potential value-creating milestones," said Will Lewis, President and CEO of Insmed. "With another $25.7 million in capital added and the expected reporting of late-stage clinical data next year, we have quickly aligned the Company for the successful commercial launch of ARIKACE in the U.S. and Europe, following receipt of the required regulatory approvals."

    Financial ResultsQuarter Ended September 30
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    SOURCE Insmed Incorporated
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