SEC Comment Letter for INSMED Inc (INSM) (CIK 0001104506) (INSM) — Dec 21, 2020
INSMED Inc (INSM) (CIK 0001104506)
Date: Dec. 21, 2020 · CIK: 0001104506 · Accession: 0000000000-20-012253
AI Filing Summary & Sentiment
File numbers found in text: 000-30739
Letter
United States securities and exchange commission logo December 21, 2020 Sara Bonstein Chief Financial Officer INSMED Inc 700 US Highway 202/206 Bridgewater, NJ 08807 Re:INSMED Inc Form 10-K filed February 25, 2020 File No. 000-30739 Dear Ms. Bonstein: We have limited our review of your filing to the financial statements and related disclosures and have the following comment. In our comment, we may ask you to provide us with information so we may better understand your disclosure. Please respond to this comment within ten business days by providing the requested information or advise us as soon as possible when you will respond. If you do not believe our comment applies to your facts and circumstances, please tell us why in your response. After reviewing your response to this comment, we may have additional comments. Form 10-K for the fiscal year ended December 31, 2019 Financial Statements Consolidated Statements of Comprehensive Loss, page 77 1.Please note that since you report amortization of intangible assets outside of cost of product revenue, it is not appropriate to present a separate caption for gross margin. Refer to SAB Topic 11:B and revise your presentation to either reclassify the applicable amortization to cost of product revenues or remove the caption gross margin. In closing, we remind you that the company and its management are responsible for the accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or absence of action by the staff. You may contact Jeanne Baker at 202-551-3691or Terence O'Brien, Branch Chief at 202- 551-3355 with any questions.
FirstName LastNameSara Bonstein Comapany NameINSMED Inc December 21, 2020 Page 2 FirstName LastName Sara Bonstein INSMED Inc December 21, 2020 Page 2 Sincerely, Division of Corporation Finance Office of Life Sciences
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United States securities and exchange commission logo
December 21, 2020
Sara Bonstein
Chief Financial Officer
INSMED Inc
700 US Highway 202/206
Bridgewater, NJ 08807
Re:INSMED Inc
Form 10-K filed February 25, 2020
File No. 000-30739
Dear Ms. Bonstein:
We have limited our review of your filing to the financial statements and related
disclosures and have the following comment. In our comment, we may ask you to provide us
with information so we may better understand your disclosure.
Please respond to this comment within ten business days by providing the requested
information or advise us as soon as possible when you will respond. If you do not believe our
comment applies to your facts and circumstances, please tell us why in your response.
After reviewing your response to this comment, we may have additional comments.
Form 10-K for the fiscal year ended December 31, 2019
Financial Statements
Consolidated Statements of Comprehensive Loss, page 77
1.Please note that since you report amortization of intangible assets outside of cost of
product revenue, it is not appropriate to present a separate caption for gross margin. Refer
to SAB Topic 11:B and revise your presentation to either reclassify the applicable
amortization to cost of product revenues or remove the caption gross margin.
In closing, we remind you that the company and its management are responsible for the
accuracy and adequacy of their disclosures, notwithstanding any review, comments, action or
absence of action by the staff.
You may contact Jeanne Baker at 202-551-3691or Terence O'Brien, Branch Chief at 202-
551-3355 with any questions.
FirstName LastNameSara Bonstein
Comapany NameINSMED Inc
December 21, 2020 Page 2
FirstName LastName
Sara Bonstein
INSMED Inc
December 21, 2020
Page 2
Sincerely,
Division of Corporation Finance
Office of Life Sciences