Most of us longs who have done our DD, I believe, understand ML's expertise and background. While some folks believe that we will not hear any important news until year end or early 2014, I for one think that a major pharma or two are seriously watching and doing their own DD, and that a surpise offer cannot be ruled out. Some here would like to watch Insmed go the distance, but the reality is that Insmed has an IP platform that is desirable. And that Mr. Lewis knows the end game better than most.
For me the most likely unexpected development is an out-licensing deal.
Lewis hinted a while back that they were in discussions. With safety and efficacy now established there are lots of other drugs out there currently administered via injection to treat pulmonary conditions which would deliver an entirely new level of safety and efficacy if delivered via inhaled loposomes.
Insmed will not be looking to do it all themselves.
"But this technology does have broader application, and there are certainly some other areas where we're seeing opportunities. And I would say, at this stage, we're quietly pursuing those. It would be important for people just from a capital use point of view to understand that should we continue to see progress in those areas, it would be our intention to partner those development efforts ..."
Note the "should we continue to see progress" rather than "should we see progress".