Insmed (NASDAQ: INSM) reported Q3 EPS of ($0.54), $0.08 worse than the analyst estimate of ($0.46).

As of September 30, 2014, Insmed had cash and cash equivalents of $167.3 million and working capital of $149.6 million, both of which reflect an underwritten public offering in August, which generated $108.0 million of net proceeds to the Company.

“We are pleased with the recent regulatory clarity for our NTM program in both Europe and the U.S. We continue to advance our regulatory filing and our preparations for commercialization in Europe, while simultaneously moving forward with our global phase 3 study in NTM patients who failed prior standard-of-care treatment. We expect to initiate this global NTM study in early 2015 and to complete enrollment within one year. We anticipate having preliminary top-line clinical results in mid-2016. We were also pleased to introduce INS-1009 for the novel treatment of PAH, as it expands our pipeline and underscores our commitment to new treatments for orphan lung diseases,” said Will Lewis, President and Chief Executive Officer of Insmed.

For earnings history and earnings-related data on Insmed (INSM) click here.