Insmed Announces $650M Common Stock Offering

By Greg Peters • Friday, June 13 15:37 • Permanent Link

Insmed Incorporated (NASDAQ: INSM), a global biopharmaceutical company, has announced its intention to offer and sell $650 million of shares of its common stock in an underwritten public offering. Additionally, Insmed intends to grant the underwriters a 30-day option to purchase up to an additional $97.5 million of shares of common stock. The offering is subject to market and other conditions.

Goldman Sachs & Co. LLC and Leerink Partners are acting as joint book-running managers for the offering.

Insmed's public offering of common stock is being made pursuant to its shelf registration statement on Form S-3 (file no. 333-272088) that was previously filed with the Securities and Exchange Commission (SEC) and became automatically effective on May 19, 2023.

Insmed is a people-first global biopharmaceutical company striving to deliver first and best-in-class therapies to transform the lives of patients facing serious diseases. The company is advancing a diverse portfolio of approved and mid to late-stage investigational medicines as well as cutting-edge drug discovery focused on serving patient communities where the need is greatest.

Insmed's most advanced programs are in pulmonary and inflammatory conditions, including a therapy approved in the United States, Europe, and Japan to treat a chronic, debilitating lung disease. The company’s early-stage programs encompass a wide range of technologies and modalities, including gene therapy, AI-driven protein engineering, protein manufacturing, RNA end-joining, and synthetic rescue.

Insmed is headquartered in Bridgewater, New Jersey, and has offices and research locations throughout the United States, Europe, and Japan.

The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. As a result of these announcements, the company's shares have moved -1.12% on the market, and are now trading at a price of $96.88. If you want to know more, read the company's complete 8-K report here.

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