Insmed (INSM) saw its loss widen to $37.76 million, or $0.61 a share for the quarter ended Sep. 30, 2016. In the previous year period, the company reported a loss of $30.96 million, or $0.50 a share.     

The company has not recorded any revenues for the current as well as previous quarter.    

Operating loss for the quarter was $37.15 million, compared with an operating loss of $30.24 million in the previous year period.

"Recent months have been marked by strong progress across all aspects of our business," said Will Lewis, president and chief executive officer of Insmed. "We are pleased to report that the enrollment phase of the CONVERT study is now complete, which positions us for top-line data next year. There is a significant need for new treatments for patients with refractory NTM lung disease and we look forward to advancing the development of ARIKAYCE. With respect to our earlier-stage pipeline, we are encouraged by the high-level of inbound physician interest in our clinical program for INS1007 in non-CF bronchiectasis. Physicians are eagerly awaiting new treatment options for this debilitating disorder and we believe INS1007 has the potential to achieve disease modification by impeding tissue destruction, inflammation, and mucus hypersecretion through the inhibition of DPP1."

Debt increases substantially 
Insmed has witnessed an increase in total debt over the last one year. It stood at $34.68 million as on Sep. 30, 2016, up 37.32 percent or $9.42 million from $25.26 million on Sep. 30, 2015. Long-term debt stood at $34.68 million as on Sep. 30, 2016. Total debt was 12.54 percent of total assets as on Sep. 30, 2016, compared with 6.55 percent on Sep. 30, 2015. Debt to equity ratio was at 0.16 as on Sep. 30, 2016, up from 0.07 as on Sep. 30, 2015.