---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-24-008937"
form_type: "8-K"
ticker: "INSM"
cik: "0001104506"
company_name: "INSMED Inc"
filed_at: "2024-02-22T23:59:59+00:00"
generated_at: "2026-06-05T18:19:07.057406+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Insmed Q4 net loss $186M; ARIKAYCE FY rev $305M (+24%), beats guidance; ASPEN data on track Q2 2024

## Summary
- 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.

## SEC filing metadata
- accession: 0001140361-24-008937
- form_type: 8-K
- ticker: INSM
- cik: 0001104506
- company_name: INSMED Inc
- filed_at: 2024-02-22T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 1.01, 1.02, 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1104506/000114036124008937/0001140361-24-008937-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1104506/000114036124008937/ef20022087_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-24-008937
- JSON: https://secwatch.observer/filing/0001140361-24-008937.json
- Plain text: https://secwatch.observer/filing/0001140361-24-008937.txt

## Key facts
- Earnings Releases
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1104506/000114036124008937/0001140361-24-008937-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1104506/000114036124008937/0001140361-24-008937-index.htm
- Material Agreements
  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
  source text: 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.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1104506/000114036124008937/0001140361-24-008937-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.