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Dec 31, 2023
Insmed Q4 2023 Earnings Report
Insmed reported strong Q4 2023 financial results, marked by arikace revenue growth and pipeline advancement.
Key Takeaways
Insmed reported Q4 2023 total revenue of $83.7 million, a 41% increase compared to Q4 2022. The company's net loss for the quarter was $186.1 million, or $1.28 per share. Insmed ended the year with $780.4 million in cash, cash equivalents, and marketable securities.
Total revenue for the fourth quarter ended December 31, 2023, was $83.7 million, reflecting 41% growth compared to total revenue of $59.3 million for the fourth quarter of 2022.
Insmed reported a net loss of $186.1 million, or $1.28 per share, compared to a net loss of $160.1 million, or $1.21 per share, for the fourth-quarter 2022.
As of December 31, 2023, Insmed had cash, cash equivalents, and marketable securities totaling $780.4 million.
Insmed is reiterating its sales guidance for full-year 2024 global ARIKAYCE revenues in the range of $340 million to $360 million, representing 15% year-over-year growth at the midpoint compared to 2023.
Insmed
Insmed
Forward Guidance
Insmed is reiterating its sales guidance for full-year 2024 global ARIKAYCE revenues in the range of $340 million to $360 million, representing 15% year-over-year growth at the midpoint compared to 2023.
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, the ongoing Phase 2 trial in patients with CRSsNP, and the Phase 2 program in HS to be initiated in the second half of the year if the ASPEN result is positive.
- Advancement of the clinical trial program for ARIKAYCE, 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 programs.