India, Aug. 6 -- Insmed Incorporated (INSM), a biopharmaceutical company, on Thursday reported a significantly narrower second-quarter loss, driven by a sharp increase in product revenue. The company also raised its full-year revenue outlook for Brinsupri, its treatment for bronchiectasis. Insmed shares rose nearly 22% in pre-market trading.
Net loss narrowed to $13.24 million, or $0.06 per share, from $321.69 million, or $1.70 per share, a year earlier.
The company recorded a $99.76 million gain from the change in fair value of contingent consideration liabilities, compared with a $59 million expense a year earlier.
Operating loss declined to $1.55 million from $312.88 million loss in the prior-year quarter.
Net product revenues nearly...