Insmed Inc Stock Price, News & Analysis

Insmed announced additional positive results from the ASPEN study on brensocatib at the 7th World Bronchiectasis Conference. The study assessed efficacy, safety, and tolerability of brensocatib in non-cystic fibrosis bronchiectasis. Key findings include a 21.1% risk reduction in pulmonary exacerbations for the 10 mg group and 19.4% for the 25 mg group, compared to placebo. The 25 mg dose also showed significantly less decline in lung function (FEV1) and forced vital capacity (FVC). Both doses improved Quality of Life scores, with nominally significant improvements in the 25 mg group. Brensocatib demonstrated a favorable safety profile, with common adverse events including COVID-19 and nasopharyngitis. Insmed plans to file a New Drug Application with the FDA in Q4 2024, with a potential U.S. launch in mid-2025, followed by Europe and Japan in 2026.

Insmed announced the redemption of all $225 million in outstanding 1.75% Convertible Senior Notes due 2025. The redemption date is set for August 9, 2024, and the redemption price will be 100% of the principal amount plus accrued interest, totaling approximately $1,001.17 per $1,000 principal. Interest on the Notes will cease to accrue after this date. Holders may convert their Notes into shares of Insmed common stock at a rate of 25.5384 shares per $1,000 principal until August 8, 2024. This conversion could result in up to 5,746,140 shares being issued if all Notes are converted.

Insmed, a global biopharmaceutical company, announced the granting of inducement awards to 15 new employees under NASDAQ Listing Rule 5635(c)(4). Approved by Insmed's Compensation Committee, the awards serve as a material inducement for their employment. On June 3, 2024, the employees received options to purchase 49,340 shares of Insmed common stock at $55.94 per share, the closing price on the grant date. The options have a 10-year term and a four-year vesting schedule, with 25% vesting after one year and 12.5% every six months thereafter, contingent on continued employment.

Insmed, a global biopharmaceutical company, will present at the Goldman Sachs 45th Annual Global Healthcare Conference on June 10, 2024, in Miami. Management will engage in a fireside chat at 10:00 a.m. ET, which will be webcast live. The webcast will be accessible via Insmed's investor relations website and will remain archived for 30 days post-event.

Insmed will host a commercial webinar on June 4, 2024, at 8:00 a.m. ET to discuss the market outlook for its key programs: ARIKAYCE®, brensocatib, and TPIP. Shareholders and interested parties can join the conference call by dialing (800) 715-9871 (U.S.) or (646) 307-1963 (international) with access code 7504027. The call will also be webcast on Insmed's website and a replay will be available until July 4, 2024. The archived webcast will be accessible for 90 days in the Investor Relations section on the company’s site.

Insmed announced the pricing of a public offering of 12,621,359 shares of common stock at $51.50 per share, targeting $650 million in gross proceeds. An additional 1,893,203 shares are available to underwriters within a 30-day option. The funds will support research and development, commercialization of brensocatib, and other corporate purposes. Closing is expected on May 31, 2024, subject to customary conditions. Goldman Sachs, Leerink Partners, and J.P. Morgan lead the offering.

Insmed (Nasdaq: INSM), a biopharmaceutical company, has announced a proposed public offering of $500 million worth of its common stock. The company intends to provide underwriters with a 30-day option to purchase up to an additional 15% of the shares. All shares will be sold by Insmed, with Goldman Sachs & Co. and Leerink Partners acting as joint book-running managers. The offering is dependent on market conditions and other factors, and there is no assurance of its completion or terms. The public offering will be made through Insmed's shelf registration statement filed with the SEC, which became effective on May 19, 2023. Preliminary prospectus supplements will be available on the SEC's website in due course.

Insmed announced positive topline results from the ASPEN Phase 3 study of brensocatib in patients with non-cystic fibrosis bronchiectasis. The study met its primary endpoint, showing statistically significant reductions in pulmonary exacerbations (PEs) for both dosage strengths versus placebo. Secondary endpoints also showed significant improvements. Brensocatib was well-tolerated, and Insmed plans to file a New Drug Application with the FDA in Q4 2024, aiming for a mid-2025 U.S. launch. If approved, brensocatib would be the first treatment for bronchiectasis and the first dipeptidyl peptidase 1 (DPP1) inhibitor. Detailed results will be presented at an upcoming medical meeting.

Study findings included a 21.1% reduction in annualized rate of PEs for the 10 mg dose and 19.4% for the 25 mg dose. Secondary outcomes included an 18.7% and 17.5% prolongation in time to first PE for the respective doses. Brensocatib also showed improvements in forced expiratory volume and quality of life scores. The study engaged over 460 sites globally. Insmed will host an investor call on May 28, 2024, to discuss the results.

Insmed will host an investor call on May 28, 2024, at 8:00 am ET to discuss the topline results from the Phase 3 ASPEN study of brensocatib in patients with non-cystic fibrosis bronchiectasis. The company will release the results at 6:30 am ET, prior to the call. The ASPEN study is a global, randomized, double-blind, placebo-controlled trial evaluating the efficacy, safety, and tolerability of brensocatib. The conference call can be accessed via phone or webcast, with a replay available until June 27, 2024.