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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 total revenue of $93.4M, an 18% YoY increase, with ARIKAYCE showing double-digit growth across all regions. U.S. sales reached $66.9M, Japan $21.0M, and Europe $5.6M. The company ended Q3 with $1.5B in cash and equivalents.The company secured an additional $150M term loan from Pharmakon Advisors, extending maturity to 2029 at a reduced fixed interest rate. Insmed remains on track to file NDA for brensocatib in bronchiectasis in Q4 2024, with potential U.S. launch in mid-2025. The expanded U.S. sales force of 120 specialists has been fully deployed.For full-year 2024, Insmed reiterates global ARIKAYCE revenue guidance of $340-360M, representing 15% YoY growth at midpoint. Q3 net loss was $220.5M ($1.27 per share) compared to $158.9M ($1.11 per share) in Q3 2023, primarily due to increased R&D and SG&A expenses for launch preparations.
Insmed reported Q3 2024 total revenue of $93.4M, an 18% YoY increase, with ARIKAYCE showing double-digit growth across all regions. U.S. sales reached $66.9M, Japan $21.0M, and Europe $5.6M. The company ended Q3 with $1.5B in cash and equivalents.The company secured an additional $150M term loan from Pharmakon Advisors, extending maturity to 2029 at a reduced fixed interest rate. Insmed remains on track to file NDA for brensocatib in bronchiectasis in Q4 2024, with potential U.S. launch in mid-2025. The expanded U.S. sales force of 120 specialists has been fully deployed.For full-year 2024, Insmed reiterates global ARIKAYCE revenue guidance of $340-360M, representing 15% YoY growth at midpoint. Q3 net loss was $220.5M ($1.27 per share) compared to $158.9M ($1.11 per share) in Q3 2023, primarily due to increased R&D and SG&A expenses for launch preparations.
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