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INSM - Insmed - Deel 14

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quote:

crackedtooth schreef:

[quote=GhosTWolF]
If the opt-in is exercised by Tercica, Insmed would be reimbursed 50% of its incurred development costs for the indication and further development costs would be shared 50:50. Upon subsequent commercialization, Insmed and Tercica will split profits 50:50 after accounting for relevant expenses including sales-based tiered royalties of 6%-15% to Genentech.

If the opt-in is exercised by Genentech, Insmed would be reimbursed 50% of its incurred development costs for the indication. Subsequent development costs and profits will be split 50:50, but no royalty will be owed to Tercica.

Het is wel duidelijk dat alles via TRCA gespeeld gaat worden, zodat beiden (DNA en TRCA) hier voordeel uit halen. (royalties)
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yep alleen heeft trca niet de centjes om veel opt in te doen
:p

Met een investeerder als genentech is dat snel verholpen ---> win-win
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Houdt u maar stevig vast. Dadelijk gaan we weer van alles beleven. Spanning en sensatie met Innie. Nieuwe ronde, nieuwe kansen.
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The Company is presently conducting ongoing clinical research in patients with HIV associated Adipose Redistribution Syndrome (HARS) and Myotonic Muscular Dystrophy (MMD). The clinical trial for HARS is ongoing at the University of California, San Francisco while the MMD clinical trial is ongoing at the University of Rochester. Initial data from both trials is expected to be released in Q2 2007

Dus de fase 2 nieuws komt volgend kwartaal.
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7-Mar-2007

Costs Associated with Exit or Disposal Activities, Change in Directors or Principal Of

Item 2.05. Costs Associated with Exit or Disposal Activities.
On February 21, 2007, the Board of Directors of Insmed Incorporated (the "Company") committed to a business restructuring plan following the Company's announcement of the Settlement, Development and License Agreement with Tercica, Inc. and Genentech, Inc, which laid out the terms for settlement of all of the outstanding litigation between the parties and includes an agreement that the Company will withdraw IPLEX from the short stature market. The restructure will eliminate the Company's commercial department and downsize the Company's manufacturing facility located Boulder, Colorado resulting in an immediate reduction of approximately 34% of the Company's current workforce of 150. Employees who are affected by the restructuring have received notification of the plan and will be provided with severance payments. The Company expects to complete the restructuring plan by March 9, 2007 and that the restructure will allow its current cash reserves to fund operations into the fourth quarter of 2007. As of December 31, 2006 the Company had $24.1 million of cash on hand.

As a result of the restructuring plan, the Company estimates that it will incur a one-time restructuring charge in March 2007 of approximately $1.7 million for severance payments. The Company estimates that the $1.7 million represents the total amount of restructuring charge to be incurred including future cash expenditures. The charges that the Company expects to incur in relation to the restructuring plan are subject to a number of assumptions, and actual results may materially differ. The Company may also incur other material charges not currently contemplated due to events that may occur as a result of, or associated with, the restructuring plan.

Item 5.02 Departure of Directors or Principal Officers
As a result of the restructure, on March 7, 2007, the Company announced that Mr. Philip J. Young, Executive Vice President and Chief Business Officer will be leaving the company effective immediately.

Item 9.01. Financial Statements and Exhibits
d) Exhibits.

ludwig mack
0
quote:

crackedtooth schreef:

7-Mar-2007

Costs Associated with Exit or Disposal Activities, Change in Directors or Principal Of

Item 2.05. Costs Associated with Exit or Disposal Activities.
On February 21, 2007, the Board of Directors of Insmed Incorporated (the "Company") committed to a business restructuring plan following the Company's announcement of the Settlement, Development and License Agreement with Tercica, Inc. and Genentech, Inc, which laid out the terms for settlement of all of the outstanding litigation between the parties and includes an agreement that the Company will withdraw IPLEX from the short stature market. The restructure will eliminate the Company's commercial department and downsize the Company's manufacturing facility located Boulder, Colorado resulting in an immediate reduction of approximately 34% of the Company's current workforce of 150. Employees who are affected by the restructuring have received notification of the plan and will be provided with severance payments. The Company expects to complete the restructuring plan by March 9, 2007 and that the restructure will allow its current cash reserves to fund operations into the fourth quarter of 2007. As of December 31, 2006 the Company had $24.1 million of cash on hand.

As a result of the restructuring plan, the Company estimates that it will incur a one-time restructuring charge in March 2007 of approximately $1.7 million for severance payments. The Company estimates that the $1.7 million represents the total amount of restructuring charge to be incurred including future cash expenditures. The charges that the Company expects to incur in relation to the restructuring plan are subject to a number of assumptions, and actual results may materially differ. The Company may also incur other material charges not currently contemplated due to events that may occur as a result of, or associated with, the restructuring plan.

Item 5.02 Departure of Directors or Principal Officers
As a result of the restructure, on March 7, 2007, the Company announced that Mr. Philip J. Young, Executive Vice President and Chief Business Officer will be leaving the company effective immediately.

Item 9.01. Financial Statements and Exhibits
d) Exhibits.

dat was te verwachten, snelle ingreep, insm zit niet stil !
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clinical research fase 2 ?
The clinical trial for HAR

quote:

M.A.D.W. schreef:

The Company is presently conducting ongoing clinical research in patients with HIV associated Adipose Redistribution Syndrome (HARS) and Myotonic Muscular Dystrophy (MMD). The clinical trial for HARS is ongoing at the University of California, San Francisco while the MMD clinical trial is ongoing at the University of Rochester. Initial data from both trials is expected to be released in Q2 2007

Dus de fase 2 nieuws komt volgend kwartaal.
ludwig mack
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quote:

beur schreef:

Houdt u maar stevig vast. Dadelijk gaan we weer van alles beleven. Spanning en sensatie met Innie. Nieuwe ronde, nieuwe kansen.
volgens mij blijft het rustig en zit je in het verkeerde draadje :)
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quote:

ludwig mack schreef:

[quote=beur]
Houdt u maar stevig vast. Dadelijk gaan we weer van alles beleven. Spanning en sensatie met Innie. Nieuwe ronde, nieuwe kansen.
[/quote]

volgens mij blijft het rustig en zit je in het verkeerde draadje :)
Nee Ludwig, dadelijk gaat Insmed vertellen over het herstructureringsplan en we zullen zien wat dit voor de koers op levert!
ludwig mack
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quote:

beur schreef:

[quote=ludwig mack]
[quote=beur]
Houdt u maar stevig vast. Dadelijk gaan we weer van alles beleven. Spanning en sensatie met Innie. Nieuwe ronde, nieuwe kansen.
[/quote]

volgens mij blijft het rustig en zit je in het verkeerde draadje :)
[/quote]
Nee Ludwig, dadelijk gaat Insmed vertellen over het herstructureringsplan en we zullen zien wat dit voor de koers op levert!
mijn opmerking was niet bedoeld om er op in te gaan.
gr
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quote:

sethonno schreef:

beur rot toch op.
ha daar is de altijd opgewekte Seth weer. Ik bedoel het positief Setje.Het kan alle kanten op.
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Insmed Announces Restructure, Settlement Ending IPLEX(TM) Patent Dispute
Restructure Improves Financial Position and Allows Company to Focus on Clinical Development for HIV-Related Condition and Myotonic Muscular Dystrophy
RICHMOND, Va., Mar 07, 2007 (BUSINESS WIRE) -- Insmed Inc., (NASDAQ: INSM) announced today that it has restructured its operations as a result of the litigation settlement with Tercica Inc. (NASDAQ: TRCA) and Genentech Inc. (NYSE: DNA), which was announced yesterday, ending all litigation between the parties.

In its restructuring, Insmed's sales and marketing group will be eliminated and production at Insmed's manufacturing site in Boulder, Colorado will be scaled back, to reflect the reduced drug product requirement. The Company anticipates that the current workforce of 150 will be reduced by approximately 34% as a result of the restructure. The projected savings are expected to extend the Company's current cash reserves and allow the Company to fund its operations into the fourth quarter of 2007. As of December 31, 2006 Insmed had $24.1 million of cash on hand.

Geoffrey Allan Ph. D., President, CEO and Chairman of Insmed, commented: "With the lawsuit behind us we can now focus all our efforts on developing IPLEX for the promising indications we have already identified, and with the License and Development agreement with Tercica and Genentech in place we believe we are well positioned for success." Dr. Allan added that, "The end of litigation removes a cloud from the Company's future and the consequent restructuring allows for an improved financial position."

The Company is presently conducting ongoing clinical research in patients with HIV associated Adipose Redistribution Syndrome (HARS) and Myotonic Muscular Dystrophy (MMD). The clinical trial for HARS is ongoing at the University of California, San Francisco while the MMD clinical trial is ongoing at the University of Rochester. Initial data from both trials is expected to be released in Q2 2007.

Conference Call Today

The Company will host a conference call on Wednesday, March 7 at 11:00 a.m. (ET) to provide an update on the litigation with Genentech and Tercica, and other business details.

Among participants on the call will be Geoffrey Allan, president and CEO of Insmed and Kevin Tully, Executive Vice President and CFO.

Interested investors can listen to the call over the internet from Insmed's investor relations website at www.insmed.com or by dialing (888) 802-2225 (domestic) or (913) 312-1268 (international).

About Insmed

Insmed Inc. is a biopharmaceutical company focused on the development and commercialization of drug candidates for the treatment of metabolic diseases and endocrine disorders with unmet medical needs. For more information about Insmed or details about the Insmed-Tercica-Genentech settlement, please visit www.insmed.com.

About IPLEX

Insmed's leading product, IPLEX(TM), a complex of recombinant human IGF-I and its binding protein IGFBP-3, was approved as an orphan drug by the United States Food and Drug Administration in December 2005. The drug is being investigated for various indications with unmet medical needs, including Myotonic Muscular Dystrophy and HIV associated Adipose Redistribution Syndrome (HARS).
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