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Sep 30, 2023
Insmed Q3 2023 Earnings Report
Insmed's Q3 2023 earnings were released, highlighted by strong ARIKAYCE revenue and pipeline advancements.
Key Takeaways
Insmed reported a total revenue of $79.1 million for Q3 2023, a 17% increase compared to Q3 2022. The growth was primarily driven by ARIKAYCE sales in the U.S. and Japan. The company is progressing its pipeline, including brensocatib and TPIP.
Total revenue reached $79.1 million, reflecting 17% growth year-over-year.
ARIKAYCE sales in the U.S. and Japan grew by 20% and 11%, respectively.
The company is reiterating its full-year 2023 ARIKAYCE revenue guidance of $295 million to $305 million.
Topline data from the Phase 3 ASPEN trial of brensocatib is expected in the second quarter of 2024.
Insmed
Insmed
Forward Guidance
Insmed is reiterating its sales guidance for full-year 2023 global revenues for ARIKAYCE in the 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, which is expected to be completed in the second quarter of 2024, and commercial launch readiness activities, as well as the Phase 2 trial in patients with CRSsNP, which is nearing randomization.
- Advancement of the clinical trial program for ARIKAYCE (ARISE and ENCORE), which is intended to satisfy the post-marketing requirement for full approval of its current indication and potentially support label expansion to include all patients with a MAC lung infection.
- Advancement of its Phase 2 clinical development programs for TPIP.
- Development of its early-stage research platforms.