Insmed, Inc. - INSM STOCK NEWS

Insmed Incorporated (Nasdaq: INSM) presented positive late-breaking subgroup data from the Phase 3 ASPEN study of brensocatib in patients with non-cystic fibrosis bronchiectasis at the CHEST 2024 Annual Meeting. The subgroup analyses showed consistent positive impact on the rate of exacerbations across most prespecified subgroups, aligning with the overall trial results. Notably, brensocatib 25 mg demonstrated a reduced decline in lung function (FEV1) at Week 52 versus placebo for all prespecified subgroups.

The drug was well-tolerated, with common adverse events including COVID-19, nasopharyngitis, cough, and headache. Insmed plans to file a New Drug Application with the FDA in Q4 2024, aiming for a U.S. launch in mid-2025 and European and Japanese launches in H1 2026. If approved, brensocatib would be the first approved treatment for bronchiectasis and the first approved DPP1 inhibitor.

Insmed Incorporated (Nasdaq: INSM) has announced the granting of inducement awards to 52 new employees in accordance with NASDAQ Listing Rule 5635(c)(4). The awards, approved by Insmed's Compensation Committee, were made as a material inducement to each employee's entry into employment with the Company.

On October 1, 2024, the new employees received options to purchase an aggregate of 106,160 shares of Insmed common stock at an exercise price of $72.88 per share, which was the closing trading price on the Nasdaq Global Select Market on the date of grant. The options have a 10-year term and a four-year vesting schedule, with 25% vesting on the first anniversary and 12.5% vesting every six months thereafter through the fourth anniversary, subject to continued service with Insmed.

Insmed Incorporated (Nasdaq: INSM) has announced the granting of inducement awards to 60 new employees, approved by the company's Compensation Committee in accordance with NASDAQ Listing Rule 5635(c)(4). On September 3, 2024, the employees received options to purchase a total of 137,140 shares of Insmed common stock at an exercise price of $73.31 per share, which was the closing trading price on the Nasdaq Global Select Market on the grant date.

The options have a 10-year term and a four-year vesting schedule. 25% of the shares will vest on the first anniversary of the grant date, followed by 12.5% vesting every six months thereafter until the fourth anniversary, subject to the employee's continued service with Insmed.

Insmed reported Q2 2024 financial results with ARIKAYCE total revenue of $90.3 million, reflecting 17% growth over Q2 2023. The company reiterated its 2024 global ARIKAYCE revenue guidance of $340-$360 million. Key highlights include:

1. U.S. launch readiness for Brensocatib in Bronchiectasis on track with NDA submission expected in Q4 2024.

2. Primary endpoint for ENCORE study of ARIKAYCE agreed upon with FDA.

3. Positive topline data from Phase 3 ASPEN study of Brensocatib reported in May 2024.

4. Q2 2024 net loss of $300.6 million, or $1.94 per share.

5. Cash and cash equivalents of $1,246.8 million as of June 30, 2024.

Insmed (Nasdaq: INSM) announced inducement grants for 97 new employees on August 2, 2024. The grants, approved under NASDAQ Listing Rule 5635(c)(4), include options to purchase a total of 133,130 shares at $75.33 per share, the closing price on the grant date, August 1, 2024.

The options have a 10-year term and follow a four-year vesting schedule: 25% vests after the first year, and 12.5% every six months thereafter, contingent on continued employment.

Insmed Incorporated (Nasdaq: INSM), a global biopharmaceutical company focused on rare diseases, has announced its upcoming second-quarter 2024 financial results conference call. The call is scheduled for Thursday, August 8, 2024, at 8:00 a.m. ET. Investors and interested parties can participate by dialing (888) 210-2654 (U.S.) or (646) 960-0278 (international) with access code 7862189. The call will also be webcast live on the company's website.

A replay of the conference call will be available until September 7, 2024, and a webcast recording will be archived for 90 days on Insmed's website. This event provides an opportunity for stakeholders to gain insights into Insmed's financial performance and receive updates on the company's business activities.

Insmed, a global biopharmaceutical company, announced inducement grants to 18 new employees under NASDAQ Listing Rule 5635(c)(4). The grants, approved by Insmed's Compensation Committee, include options to purchase 38,110 shares of Insmed common stock at an exercise price of $66.34 per share. These options, granted on July 1, 2024, have a 10-year term and a four-year vesting schedule. Specifically, 25% of the shares will vest on the first anniversary of the grant date, with 12.5% vesting every six months thereafter, conditional upon the employees' continued service. This move aligns with Insmed's mission to transform the lives of patients with serious and rare diseases by attracting and retaining top talent.

Insmed announced additional positive results from the ASPEN study on brensocatib at the 7th World Bronchiectasis Conference. The study assessed efficacy, safety, and tolerability of brensocatib in non-cystic fibrosis bronchiectasis. Key findings include a 21.1% risk reduction in pulmonary exacerbations for the 10 mg group and 19.4% for the 25 mg group, compared to placebo. The 25 mg dose also showed significantly less decline in lung function (FEV1) and forced vital capacity (FVC). Both doses improved Quality of Life scores, with nominally significant improvements in the 25 mg group. Brensocatib demonstrated a favorable safety profile, with common adverse events including COVID-19 and nasopharyngitis. Insmed plans to file a New Drug Application with the FDA in Q4 2024, with a potential U.S. launch in mid-2025, followed by Europe and Japan in 2026.

Insmed announced the redemption of all $225 million in outstanding 1.75% Convertible Senior Notes due 2025. The redemption date is set for August 9, 2024, and the redemption price will be 100% of the principal amount plus accrued interest, totaling approximately $1,001.17 per $1,000 principal. Interest on the Notes will cease to accrue after this date. Holders may convert their Notes into shares of Insmed common stock at a rate of 25.5384 shares per $1,000 principal until August 8, 2024. This conversion could result in up to 5,746,140 shares being issued if all Notes are converted.