Earnings report: Insmed

Richmond area firms: Insmed Inc.

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

On a per-share basis, the loss in the third quarter was break-even compared with a 2-cent loss in the year-ago period.

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 advisers, 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."

Shares rose 4 cents, or 5.48 percent, to close at 77 cents.

-- Times-Dispatch