Summary by Moomoo AI
Insmed reported Q3 2024 financial results, with ARIKAYCE net sales increasing 18.2% year-over-year to $93.4 million. US sales grew 12.9% to $66.9 million, while Japan sales rose 30.9% to $21.0 million. Total revenue reached $93.4 million, up from $79.1 million in Q3 2023.R&D expenses increased 38.2% to $150.8 million, driven by higher manufacturing costs and compensation expenses. SG&A expenses rose 31.2% to $118.9 million due to increased headcount and commercial readiness activities for brensocatib. The company reported a net loss for the quarter.Insmed highlighted positive topline results from the ASPEN Phase 3 trial of brensocatib in bronchiectasis, with plans to file an NDA in Q4 2024. The company raised $713.2 million through a public offering in May 2024 and $371.3 million via its ATM program. As of September 30, Insmed had $461.5 million in cash and $1.0 billion in marketable securities, providing runway for continued R&D and commercial activities.
