8-K
filed February 22, 2024, 6:59 PM ET
ticker INSM
CIK 0001104506
earnings
confidence high
sentiment neutral
materiality 0.75
Insmed Q4 net loss $186M; ARIKAYCE FY rev $305M (+24%), beats guidance; ASPEN data on track Q2 2024
INSMED Inc
2023-FY EPS reported
-$5.34
revenue$305,208,000
- Total revenue $83.7M in Q4 2023 (+41% YoY); full-year 2023 revenue $305.2M (+24% YoY), exceeding guidance.
- Net loss $186.1M in Q4 ($1.28/share) and $749.6M for FY2023 ($5.34/share); R&D spend $571M in FY2023.
- Cash, equivalents and marketable securities $780.4M as of Dec 31, 2023; new $500M ATM agreement with Leerink entered Feb 22, 2024.
- ARIKAYCE global revenue guidance for 2024 reiterated at $340M-$360M (15% YoY growth at midpoint).
- Topline data from Phase 3 ASPEN study (brensocatib) expected Q2 2024; Phase 2 TPIP PH-ILD data also expected Q2 2024 ahead of ASPEN.
Key facts
Extracted from this filing and checked against the source text.
Earnings Releases
SEC 8-K Item 2.02
confidence 0.7
INSMED Inc reported financial results for the fourth quarter and full year ended December 31, 2023.
- Period
- the fourth quarter and full year ended December 31, 2023
- Result
- reported results
Exact text from the filing
On February 22, 2024, Insmed Incorporated issued a press release regarding its financial results for the three months and fiscal year ended December 31, 2023.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
INSMED Inc entered into Sales Agreement with Leerink Partners LLC valued at up to $500,000,000 (effective 2024-02-22).
- Action
- entry
- Agreement
- atm program
- Counterparty
- Leerink Partners LLC
- Value
- up to $500,000,000
- Effective
- 2024-02-22
Exact text from the filing
On February 22, 2024, Insmed Incorporated (the “Company”) entered into a Sales Agreement (the “Agreement”) with Leerink Partners LLC, as agent (“Leerink”), under which the Company may offer and sell its common stock, par value $0.01 per share, from time to time having an aggregate offering price of up to $500,000,000 (the “Shares”) during the term of the Agreement through Leerink, acting as agent.
View on SEC.gov
Material Agreements
SEC 8-K Item 1.01/1.02
confidence 0.9
INSMED Inc terminated Prior Agreement with Leerink Partners LLC (effective 2024-02-22).
- Action
- termination
- Agreement
- atm program
- Counterparty
- Leerink Partners LLC
- Effective
- 2024-02-22
Exact text from the filing
On February 22, 2024, in connection with entry into the Agreement described under Item 1.01 above, the Company and Leerink mutually agreed to terminate the Prior Agreement, which termination became effective on February 22, 2024.
View on SEC.gov
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