Insmed Inc SEC Filings

T. Rowe Price Associates, Inc. reports beneficial ownership of 11,230,934 shares of Insmed Inc. common stock, representing 5.9% of the class. The filing shows sole voting power over 10,918,453 shares and sole dispositive power over 11,188,173 shares, with no shared voting or dispositive powers. The firm states these shares are held in the ordinary course of business and were not acquired to change or influence control of the issuer. The disclosure identifies T. Rowe Price as an investment adviser and clarifies there is no group affiliation noted. This is a material institutional ownership disclosure but does not, by itself, indicate an intent to exert control.

Insmed, Inc. (INSM) reported a Form 144 notice showing an insider intends to sell 13,600 common shares through Morgan Stanley Smith Barney LLC, with an aggregate market value of $1,654,338.00 and an approximate sale date of 08/13/2025. The shares were acquired in two restricted-stock vesting events: 5,942 shares on 05/15/2019 and 7,658 shares on 05/12/2021, both listed as consideration for services rendered. The filing also discloses a prior sale by the same person of 25,000 shares on 06/10/2025 for gross proceeds of $2,180,846.00.

The notice states the filer represents they have no undisclosed material adverse information about the issuer. Outstanding shares are shown as 211,374,786, which provides context for the scale of these transactions versus total shares outstanding.

Form 144 filed for Insmed, Inc. (INSM) reports a proposed sale of 10,000 shares of common stock through Merrill Lynch in Orlando, to be executed on or about 08/12/2025 on NASDAQ with an aggregate market value of $1,215,350. The filing lists total shares outstanding of 211,374,786, which makes the proposed block a very small fraction of the company's capitalization.

The securities to be sold were acquired via stock option transactions reported on 05/18/2018 (6,702 shares) and 05/16/2019 (6,066 shares). Several identifying fields in the filing appear blank or unspecified, and the form includes the standard representation that the seller does not possess undisclosed material adverse information.

Insmed announced FDA approval of BRINSUPRI (brensocatib) 10 mg and 25 mg tablets, an oral once-daily treatment for non-cystic fibrosis bronchiectasis in adults and children 12 years and older. The company attached a press release and an approval presentation as Exhibits 99.1 and 99.2 and will host a conference call with a live webcast to discuss the approval. The filing notes the Item 7.01 materials are not deemed "filed" for purposes of Section 18. The report does not include financial results, revenue guidance, launch timing, or other commercial details.

Insmed (INSM) Q2 2025 10-Q highlights

• Net sales up 19% to $107.4 m; six-month sales rose 21% to $200.2 m, driven by ARIKAYCE growth in Japan (+45%) and continued U.S. demand.
• Spending accelerated. R&D jumped 21% YoY to $177.2 m and SG&A 45% to $154.8 m. Total operating expenses were $420.3 m, lifting the operating loss to $312.9 m (-8% YoY).
• Wider bottom-line loss. Net loss reached $321.7 m (-$1.70/sh) versus $300.6 m (-$1.94/sh) a year ago; six-month loss deepened to $578.3 m.
• Balance-sheet reset. All $575 m 0.75% 2028 converts were converted/redemed in Q2, cutting long-term debt nearly 51% to $538.5 m (term loans only) and adding 17.9 m shares. Shareholders’ equity rose to $1.25 b from $0.29 b.
• Liquidity bolstered. Cash & cash equivalents soared to $1.28 b (vs. $0.56 b YE-24) after $823.5 m equity raise and $146 m draw of Tranche B term loan; total liquidity (cash+securities) $1.86 b.
• Cash burn rising. Operating cash outflow was -$468 m for H1 vs. -$307 m prior-year.
• Contingent consideration liability climbed to $246 m (+46% YTD) on Motus/AlgaeneX milestones.

Company says cash on hand funds operations for ≥12 months while it advances brensocatib Phase 3, TPIP, INS1201 and expands ARIKAYCE indications. No forward guidance provided.