3SOF

Michael,

Just wondering if you had any thoughts on the action with INSM.  Closed at 1.91 today.  I know that you had mentioned setting up a stop loss.  There is lots of talk in regards to the lawsuit with TRCA on the Yahoo msg. board(not always the best place to get your facts).  I expect things to turn around as we approach the June launch of Iplex.  I appreciate your feedback.

Alien   

Quote from: alien41 on March 27, 2006, 04:25:18 PM
Michael,

Just wondering if you had any thoughts on the action with INSM.  Closed at 1.91 today.  I know that you had mentioned setting up a stop loss.  There is lots of talk in regards to the lawsuit with TRCA on the Yahoo msg. board(not always the best place to get your facts).  I expect things to turn around as we approach the June launch of Iplex.  I appreciate your feedback.

Alien   

Hi Alien,

Technically today was very disappointing. The stock ended close to the low of the day and it seems like we have entered a downtrend. INSM need to show some strength fast.

Concerning the lawsuit this is old news. In the CC INSM made it clear that they believe that they have a very strong case and that they will launch iPlex despite TRCA's lawsuit. Any ruling from the court is first expected by the end of the year giving the stock ample time to recover. It is however clear that the market has a more negative view on this issue at present so we will put a stop on INSM at 1.85. This will give the stock room to recover from this speculation but also limit our loss if the stock capitulates.

Was INSM sold?  Etrade is showing the low today is 1.83

Michael,

Thanks for the quick reply.  Sold today @ 1.87. On to the next trade.

Alien

Sorry I'm a contrarian this time.
I sold on friday at 2.04 and bought again today at 1.86

I believe shortly it may fill the gap at ~2,50 if we hear good news in the next few days

jorgegr

INSM sold at 1.85 in accordance with the trading plan

Quote from: jorgegr on March 28, 2006, 11:00:17 AM
Sorry I'm a contrarian this time.
I sold on friday at 2.04 and bought again today at 1.86

I believe shortly it may fill the gap at ~2,50 if we hear good news in the next few days

jorgegr

I hope you are right Jorge. I for sure think that INSM should trade above 2.50. Unfortunately it seems like the market disagree for now.

I found the following on the Yahoo INSM message board:  I ran across someone mentioning a court case TRCA vs INSM regarding the exclusive orphan rights that TRCA says INSM is violating. Someone mentioned an April courtdate - does anyone know about this here?  Is that why the price has dropped?

I sold at 2.05 but I want back in....

Thomas Keuer
Senior Vice President of Insmed Therapeutic Proteins, CC March 2, 2006
_____________________________________
Greetings to everyone from Boulder, Colorado. What I want to do is give a brief update and overview of our manufacturing program for iPlex. As I'm sure all of you know by now, Insmed acquired a bio-pharmaceutical manufacturing facility in Bolder from Baxter Healthcare in the spring of 2004, which we now call Insmed Therapeutic Proteins or ITP. This strategic acquisition was made primarily to provide Insmed with direct control over the manufacturing of drug substance to ensure adequate supply for clinical trials and commercial launch. By the fourth quarter of 2004, we have staffed up, re-commissioned the facility and we're successfully manufacturing iPlex under GMC conditions in support of our clinical trial program.

Our ability to rapidly staff up and produce clinical and commercial product is a testimony to the quality of the employees we've been able to hire at ITP. In order to run at maximum capacity, we've instituted a 24/7 operation dedicated to the manufacture of iPlex. We currently have over 60 employees and that number will grow to nearly 100 by year-end. In order to make all this function smoothly, we've hired a very experienced management team that's proven itself over many years in specialty biopharmaceutical manufacturing. Currently the ITP management team has over 10 years of direct experience on average in our Boulder facility and over 15 years xperience on average in the biopharmaceutical industry.

In 2005 our team was able to continue enhancing the production capability from ITP. Also in the summer of 2005, we were inspected by the FDA as part of the NDA approval process and were subsequently approved as a commercial manufacturing site for iPlex drug substance. This was clearly a very significant milestone for Insmed and the Boulder site. Over the past few months we've been actively manufacturing iPlex drug substance to support our upcoming product launch in Q2 of this year.

Additionally we began work on the development of an approved shelf stable nonfrozen formulation, which we expect to have completed by the end of this year. In addition to supporting Launch, our other major objectives for 2006 and beyond will be to continue to enhance our manufacturing capacity to meet the anticipated annual increases in market demand. This will be achieved through the same type of success planning and execution that's allowed us to make such tremendous progress in a short period of time since we acquired the facility.

We believe that as a result of the successful implementation of these plans, the ITP facility will have adequate capacity to meet an annual market demand for its several hundred million dollars.In summary, we believe that the strategic acquisition of ITP has proven to be a very good decision and that now we've established Insmed as a fully integrated company with complete control over the manufacturing supply. I'm also very proud of the fact that the Insmed manufacturing team has exceeded our primary objectives to date and I look forward to the opportunities that lie ahead for us in the manufacturing program to support the growth of iPlex as a commercial franchise.
_____________________________________

Quiet period will be over on the 31st according to edgar, gonna hold to see what happens after that. Hopefully they come out with some awesome news. If not--I hate it when that happens. I still think there is a lot of potential here, hopefully the market will too.

 INSM: CE Unterberg Starts @ Buy; Sets Tgt @ $3; Analyst Notes
Tuesday , April 11, 2006 09:08 ET

Issuer: Insmed Incorporated (NasdaqNM: INSM)
Analyst Firm:  C.E. Unterberg Towbin Co.
Ratings Action: INITIATE
Current Rating: Buy
Target Price Action: INITIATE
Target Price: $3.00
Analyst Comments: The firm expects the IPLEX launch to begin in Q2 and they think sales could reach $200M in 2010.

pffff....
it's really time to go upstairs...

other indications:


CEUT note
by: rstor1 (46/M/NY)  04/11/06 10:03 am
Msg: 85522 of 85533

Insmed, Inc. (INSM5,6,7,8,9 $1.69) - Buy



Growing Potential – Initiating with Buy Rating



Initiating coverage of Insmed with a Buy rating.



Insmed's lead product, IPLEX, was approved in December 2005, for the treatment of severe primary IGF deficiency. Though it has not launched yet, we expect launch to begin in 2Q:06. We believe it will soon lead the IGF-1 market over its competitor Tercica's Increlex (which was launched in January 2006) given its favorable safety profile as well as added convenience. We believe the initial worldwide sales for IPLEX and Increlex growth hormone revenue may represent a combined opportunity of roughly $10-15MM in 2006 growing to $200MM in 2010.



We highlight Insmed's pursuit of an indication for HIV lipodystrophy. We estimate the number of patients with HIV lipodystrophy could be as high as 800,000. Insmed holds a key advantage over its competitors in that IPLEX can safely be used in the nearly 50% of HIV lipodystrophy patients who are insulin resistant. IPLEX would step easily into this role to fulfill the unmet need for these patients. Though this program is in the early stages and we would not expect to see an FDA filing until 2009, we would point to this as the key driver for the name as a long-term buy and hold story.



We believe INSM's shares are best suited for investors seeking private equity type returns with the stomach necessary to deal with nearer-term volatility as litigation matters are worked through. Furthermore, a longer-term time perspective permits investors to look past the somewhat limited initial market opportunity for IPLEX, and ahead to significantly larger potential market opportunities, including those beyond short stature.



We arrive at our 12-month price target for INSM of $3.00 by averaging valuation ranges arrived at both under a multiple of revenue and multiple of earnings perspective. Our target represents potential upside of more than 75% to INSM's current levels.



Upcoming events for INSM include an Unfair Business Practices Judgement Hearing on April 15 and a Markman hearing on May 19. Historically, Markman hearings have been used to assess a judge's bias in a particular patent case and to review procedural issues. In this case, the judge, Judge Claudia Wilkens, has not tried many patent cases. We note that this is more a formality for Insmed and would not assign it much weight as a catalyst.



The major risk for Insmed stems from the patient litigation with Tercica and Genentech. In December 2004, Tercica and Genentech began to file a series of complaints against Insmed. A negative decision could have a major impact on Insmed as it could potentially eliminate its only commercialized product. However, we add that the risk of this outcome is not as likely as a monetary settlement. Additional risks for Insmed include the successful launch of IPLEX as well as the company's inability to differentiate IPLEX from TRCA's Increlex. There is also risk in the inability to successfully develop and commercialize other pipeline products. For greater discussion of risks, see the body of our report as well as the company's reports filed with the SEC.

Andrew Fein
Equity Research -- Biotechnology

Mike (1Reilly),

Thanks for the heads up on INSM.

I'd say that the Unterberg analyst made a good call, technically.  After going well beyond the Ascending Triangle target, INSM has come back to the 1.63-1.64 breakout.  The April 7 low was 1.65.

"Former resistance provided support."

The low "should be" in now.  It could tag the 200DMA, currently at 1.573 and rising about one-third of a point per day, but I personally wouldn't want it if the stock went below that.

On the upside, 2.09-2.10 was support, and the 50DMA, which has rolled over to the downside, is at about 2.14, and falling.  I would expect some resistance there.

Melf
Thanks for the TA. I picked at this at 1.76 and plan to add if I see more volume. I think the early volume might have been a blessing but want some volume now to confirm upside bias.
Mike

Hi guys...
Great post for all indications...here it is :

http://www.investorshub.com/boards/board.asp?board_id=1433

Some buying interest coming in at 11:00AM.  There were a couple of 30,000 share blocks at 1.87 and 1.88.  We need some more, but that's a start.

Applauds to jlong, Oliver, Doyle and Mike (1reilly) for you posts on INSM.  Thanks.

Melf
With this action today I'll be very surprised if this doesn't test 2.10 - 2.12 level. Top of my Bollinger band around 2.20. Market and 3 day weekend may put a lid on this but I liked what I saw on the bid side today.
Mike