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Insmed | 8-K: Insmed Reports Third-Quarter 2024 Financial Results and Provides Business Update

SEC ·  Oct 31, 2024 19:05

Summary by Moomoo AI

Insmed reported Q3 2024 financial results, with ARIKAYCE global revenue growing 18% YoY to $93.4M. The company remains on track to file an NDA for brensocatib in bronchiectasis in Q4 2024, with potential U.S. launch in mid-2025. Insmed has fully deployed its expanded U.S. sales force, focusing on bronchiectasis awareness and ARIKAYCE growth.The company ended Q3 with ~$1.5B in cash and equivalents. It renegotiated its term loan with Pharmakon, resulting in lower capital costs and an additional $150M to be received in Q4. Insmed reiterated its 2024 global ARIKAYCE revenue guidance of $340-360M, representing double-digit YoY growth.Key clinical updates include nearing full enrollment for ENCORE and PAH studies, with topline results for the latter expected in H2 2025. Insmed plans to initiate a Phase 3 study of TPIP in PH-ILD in H2 2025 and is advancing over 30 pre-clinical programs.
Insmed reported Q3 2024 financial results, with ARIKAYCE global revenue growing 18% YoY to $93.4M. The company remains on track to file an NDA for brensocatib in bronchiectasis in Q4 2024, with potential U.S. launch in mid-2025. Insmed has fully deployed its expanded U.S. sales force, focusing on bronchiectasis awareness and ARIKAYCE growth.The company ended Q3 with ~$1.5B in cash and equivalents. It renegotiated its term loan with Pharmakon, resulting in lower capital costs and an additional $150M to be received in Q4. Insmed reiterated its 2024 global ARIKAYCE revenue guidance of $340-360M, representing double-digit YoY growth.Key clinical updates include nearing full enrollment for ENCORE and PAH studies, with topline results for the latter expected in H2 2025. Insmed plans to initiate a Phase 3 study of TPIP in PH-ILD in H2 2025 and is advancing over 30 pre-clinical programs.
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