BRIDGEWATER, N.J. (AP) _ Insmed Inc. (INSM) on Tuesday reported a loss of $74.2 million in its first quarter.
On a per-share basis, the Bridgewater, New Jersey-based company said it had a loss of 96 cents. Losses, adjusted for amortization costs, were 94 cents per share.
The results met Wall Street expectations. The average estimate of five analysts surveyed by Zacks Investment Research was also for a loss of 94 cents per share.
The biopharmaceutical developing inhaled treatments for patients battling rare lung diseases posted revenue of $21.9 million in the period, which also matched Street forecasts.
Insmed shares have more than doubled since the beginning of the year. The stock has risen 26% in the last 12 months.
This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on INSM at https://www.zacks.com/ap/INSM