Insmed losses decrease for third quarter

Richmond biopharmaceutical company Insmed Inc. today reported that losses for the quarter ending Sept. 30 were $150,000, compared with a loss of $2.2 million in the same period a year earlier.

Revenue for the third quarter was $2.5 million, compared with $4.1 million for the corresponding period in 2008.

"We are continuing our strategic review of alternatives with the assistance of our financial advisors, RBC Capital Markets, and have reviewed a number of high-quality opportunities," said Dr. Melvin Sharoky, Insmed's chairman. "We remain focused on leveraging our strong balance sheet to grow our business and enhance shareholder value."