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August 4, 2014
10:34 EDTINSMInsmed EU update to provide near-term floor, says Piper Jaffray
Piper Jaffray attributes today's pullback in shares of Insmed to the company not immediately filing for U.S. approval of Arikayce in cystic fibrosis and nontuberculous mycobacteria. However, Piper believes the earlier than expected European filing will provide a near-term floor for shares. The firm also says the Phase 2 improvement in 6MWD in the Arikayce arm should "put to rest much of the debate over the drug's clinical utility." Piper reiterates an Overweight rating on Insmed with a $51 price target.
News For INSM From The Last 14 Days
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November 7, 2014
08:00 EDTINSMInsmed management to meet with Maxim
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November 6, 2014
07:38 EDTINSMInsmed reports Q3 EPS (54c), consensus (46c)
The Company plans to continue to fund further clinical development of ARIKAYCE, increase its investment in third-party manufacturing capacity, support efforts to obtain regulatory approvals and prepare for ARIKAYCE commercialization. As a result, Insmed estimates that its cash operating expenses for the fourth quarter of 2014 will be in the range of $22 million to $26 million. In addition, the Company expects to pay approximately $2 million related to the completion of the build out of its office and laboratory facilities in New Jersey. The Company expects current cash balances will be sufficient to fund operations into 2016.

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