Loading...
•
Mar 31, 2023
Insmed Q1 2023 Earnings Report
Insmed reported a strong first quarter in 2023 with revenue growth and advancements in clinical development pipeline.
Key Takeaways
Insmed Incorporated reported financial results for the first quarter ended March 31, 2023. Total revenue was $65.2 million, a 23% increase year-over-year. The company had a net loss of $159.8 million, or $1.17 per share.
Total revenue for Q1 2023 was $65.2 million, a 23% increase year-over-year.
ARIKAYCE global revenue grew 23% compared to Q1 2022.
Enrollment was completed in the Phase 3 ASPEN trial of brensocatib.
The company reaffirms full-year 2023 guidance for global ARIKAYCE revenues between $285 million and $300 million.
Insmed
Insmed
Forward Guidance
Insmed expects full-year 2023 global revenues for ARIKAYCE to be between $285 million and $300 million and anticipates that over 80% of total expenditures will be on its mid-to-late stage and commercial programs.
Positive Outlook
- Commercialization and expansion of ARIKAYCE globally.
- Advancement of brensocatib, including the Phase 3 ASPEN study.
- Development across additional neutrophil-mediated diseases.
- Advancement of the clinical trial program for ARIKAYCE (ARISE and ENCORE).
- Development of its early-stage research platforms.
Challenges Ahead
- Failure to obtain regulatory approvals for ARIKAYCE outside the U.S., Europe or Japan.
- Failure to successfully commercialize ARIKAYCE.
- Business or economic disruptions due to catastrophes or other events.
- Risk that brensocatib or TPIP does not prove to be effective or safe for patients.
- Uncertainties in the degree of market acceptance of ARIKAYCE.