Shares of Insmed Incorporated (INSM) plummeted 5.11% in pre-market trading on Thursday after the biopharmaceutical company reported a wider net loss for the fourth quarter of 2024 that missed analysts' expectations.
Insmed posted a net loss of $1.32 per diluted share for the quarter, wider than the loss of $1.28 per share in the year-ago period. Analysts polled by FactSet had forecast a loss of $1.17 per share.
While the company's revenue rose 24.8% year-over-year to $104.4 million, it narrowly missed the consensus estimate of $101.8 million. As of December 31, 2024, Insmed had cash, cash equivalents, and marketable securities totaling about $1.4 billion.
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