Summary by Moomoo AI
Insmed reported Q2 2024 total revenue of $90.3M, up 17% YoY, with ARIKAYCE sales showing double-digit growth across all regions - US ($63.8M, +11%), Japan ($21.1M, +35%), and Europe ($5.4M, +37%). The company maintains its 2024 global ARIKAYCE revenue guidance of $340-360M.Following positive Phase 3 ASPEN study results for brensocatib in bronchiectasis patients, Insmed plans to file an NDA in Q4 2024, targeting a US launch in mid-2025. The company completed a public offering raising $713.2M net proceeds and converted 99.9% of its $225M convertible notes due 2025.Q2 net loss widened to $300.6M ($1.94/share) from $244.8M ($1.78/share) YoY, primarily due to a $103.7M non-cash expense from changes in fair value of deferred and contingent consideration liabilities. The company ended Q2 with $1.25B in cash and cash equivalents, positioning it for upcoming commercial launches and pipeline advancement.
