Stock Track | Insmed Plunges After Q3 Earnings Miss and Lackluster Outlook

Stock Track

Oct 31, 2024

Shares of Insmed Incorporated (INSM) plummeted over 6% in pre-market trading on Thursday, after the biopharmaceutical company reported weaker-than-expected earnings for the third quarter of 2024 and provided a disappointing outlook.

For Q3, Insmed posted a loss of $1.27 per share, missing analysts' consensus estimate of $1.21 per share. The company's revenue of $93.4 million beat expectations of $93.3 million, driven by sales of its flagship drug Arikayce for the treatment of a rare lung disease.

However, Insmed reiterated its full-year 2024 guidance for global Arikayce revenues of $340 million to $360 million, which fell short of analysts' projections. The company also announced a new $150 million senior secured term loan tranche, raising concerns about its financial position and cash burn.

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The company's revenue of $93.4 million beat expectations of $93.3 million, driven by sales of its flagship drug Arikayce for the treatment of a rare lung disease.</p>\n\n<p>However, Insmed reiterated its full-year 2024 guidance for global Arikayce revenues of $340 million to $360 million, which fell short of analysts' projections. The company also announced a new $150 million senior secured term loan tranche, raising concerns about its financial position and cash burn.</p>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"INSM","symbol_name":"Insmed","start_time":0,"source_url":"","article_id":"1102776328","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1102776328","pubTimestamp":1730375303,"columns":[],"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Insmed Incorporated  plummeted over 6% in pre-market trading on Thursday, after the biopharmaceutical company reported weaker-than-expected earnings for the third quarter of 2024 and provided a disappointing outlook.For Q3, Insmed posted a loss of $1.27 per share, missing analysts' consensus estimate of $1.21 per share. 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