Insmed Q4 2023 Earnings Report
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.