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Jun 30, 2023
Insmed Q2 2023 Earnings Report
Insmed's Q2 2023 earnings were released, featuring the strongest ARIKAYCE sales quarter since launch, driven by growth in the U.S. and Japan. The company raised its full-year revenue guidance for ARIKAYCE and is progressing its pipeline programs.
Key Takeaways
Insmed reported Q2 2023 financial results, highlighted by total revenue of $77.2 million, an 18% increase compared to Q2 2022. The growth was primarily driven by ARIKAYCE sales, which reached their highest level since launch. The company raised its full-year 2023 revenue guidance for ARIKAYCE to $295 million to $305 million. Insmed reported a net loss of $244.8 million, or $1.78 per share.
Total revenue for Q2 2023 was $77.2 million, reflecting 18% growth compared to Q2 2022.
ARIKAYCE net sales were $57.7 million in the U.S., $15.6 million in Japan, and $4.0 million in Europe and rest of world.
The company anticipates sharing topline efficacy and safety data from the ARISE study in September of 2023.
Insmed is raising its sales guidance for full-year 2023 global revenues for ARIKAYCE to a range of $295 million to $305 million.
Insmed
Insmed
Insmed Revenue by Segment
Revenue by Segment
ARIKAYCE U.S. Revenue
CapyFin.comARIKAYCE Japan Revenue
CapyFin.comARIKAYCE Europe & RoW Revenue
CapyFin.com Forward Guidance
Insmed raised its sales guidance for full-year 2023 global revenues for ARIKAYCE to a range of $295 million to $305 million.
Positive Outlook
- Commercialization and expansion of ARIKAYCE globally.
- Advancement of brensocatib, including the Phase 3 ASPEN study in patients with bronchiectasis and commercial launch readiness activities, as well as initiation of the Phase 2 trial in patients with CRSsNP.
- Advancement of the clinical trial program for ARIKAYCE (ARISE and ENCORE).
- Advancement of its Phase 2 clinical development programs for TPIP.
- Development of its early-stage research platforms.
Challenges Ahead
- Failure to obtain regulatory approvals for ARIKAYCE outside the U.S., Europe or Japan, or for the Company’s product candidates in the U.S., Europe, Japan or other markets.
- Failure to successfully commercialize ARIKAYCE, the Company's only approved product, in the U.S., Europe or Japan.
- Risk that brensocatib or TPIP does not prove to be effective or safe for patients in ongoing and future clinical studies.
- Uncertainties in the degree of market acceptance of ARIKAYCE by physicians, patients, third-party payors and others in the healthcare community.
- The Company’s inability to obtain full approval of ARIKAYCE from the U.S. Food and Drug Administration.
Revenue & Expenses
Visualization of income flow from segment revenue to net income