Insmed Incorporated

INSM

Held by 13 specialist biotech funds

High Convergence

13 funds opened new positions. Next phase3 readout (Treprostinil Palmitil): Dec 2026. Short interest: 7.1% of float.

BiotechnologyCEO: William H. LewisIPO: 2000Website ↗

Insmed Incorporated operates as a biopharmaceutical enterprise focused on creating and introducing medical solutions for individuals facing severe and uncommon health conditions. The company's marketed treatment, ARIKAYCE, is administered to adult patients suffering from Mycobacterium avium complex (MAC) lung disease, serving as a component of a broader antibacterial drug regimen. In its development pipeline, Insmed is advancing Brensocatib, an oral and reversible inhibitor targeting dipeptidyl peptidase 1, which is being investigated for its potential in treating bronchiectasis and other disorders mediated by neutrophils. Additionally, the firm is developing Treprostinil Palmitil Inhalation Powder, an inhaled version of the treprostinil palmitil prodrug, designed to address pulmonary arterial hypertension and various other rare lung ailments. Founded in 1988, Insmed Incorporated maintains its primary corporate offices in Bridgewater, New Jersey.

Catalysts

Phase 2Q4 2008rhIGF-I/rhIGFBP-3Myotonic Dystrophy Type 1NCT00577577

Primary: Change From Baseline to Week 24 in Distance Walked as Assessed by the Six-minute Walk Test (6MWT) Distance (Baseline and Week 24)Enrollment:69/69Sites: 12RANDOMIZED, QUADRUPLE, SUPPORTIVE_CARE

Phase 2Q2 2009280 mg Arikayce™BronchiectasisNCT00775138

Primary: Number of Participants Reporting Treatment-emergent AEs (TEAEs) up to End of Treatment (Day 1 through 56.)Enrollment:64/64Sites: 18RANDOMIZED, TRIPLE, TREATMENT

Phase 2Q2 2009Arikayce™ 560 mgCystic FibrosisNCT00558844

Primary: Number of Participants With Treatment-Emergent Adverse Events (56 days)Enrollment:41/41Sites: 19RANDOMIZED, QUADRUPLE, TREATMENT

Phase 3PositiveQ2 2013Liposomal amikacin for inhalation (Arikayce™) using the PARI Investigational eFlow® Nebulizer.Pseudomonas Aeruginosa InfectionNCT01315678

Primary: Pulmonary Function Test: Forced Expiratory Volume in 1 Second (FEV1) (Baseline to168 days)Enrollment:302/302Sites: 62RANDOMIZED, TREATMENT

Phase 2PositiveQ3 2014Liposomal amikacin for inhalation (LAI)Mycobacterium Infections, NontuberculousNCT01315236

Primary: Change in Semi-Quantitative Mycobacterial Culture Results From Baseline to Day 84. (Baseline and end of double-blind phase of 84 days)Enrollment:90/90Sites: 19RANDOMIZED, QUADRUPLE, TREATMENT

Phase 3PositiveQ3 2018LAI (Liposomal Amikacin for Inhalation) 590 mgMycobacterium Infections, NontuberculousNCT02344004

Phase 2Q4 2019Brensocatib 10 mgNon-Cystic Fibrosis BronchiectasisNCT03218917

Primary: Time to the First Pulmonary Exacerbation Over 24-Week Treatment Period (Baseline (Day 1) to Week 24)Enrollment:256/256Sites: 108RANDOMIZED, QUADRUPLE, TREATMENT

Phase 2NegativeQ3 2022Treprostinil PalmitilPulmonary Arterial HypertensionNCT04791514

Primary: Number of Participants Who Experience a Treatment Emergent Adverse Event (TEAE) (Up to 150 days)Enrollment:1/1Sites: 1NA, TREATMENT

Phase 2Q4 2022BrensocatibCystic FibrosisNCT05090904

Primary: Maximum Plasma Concentration (Cmax) of Brensocatib on Day 1 (Predose and 0.5, 1, 2, 4, 6, 8, and 24 hours postdose on Day 1)Enrollment:29/29Sites: 14RANDOMIZED, DOUBLE, TREATMENT

Phase 3PositiveQ2 2023ALISMycobacterium Infections, NontuberculousNCT04677543

Primary: Psychometric Cross-Sectional Validation of Patient Reported Outcome (PRO): Patient Global Impression of Severity (PGI-S) Respiratory Scale Score at Baseline (Baseline)Enrollment:99/99Sites: 62RANDOMIZED, QUADRUPLE, OTHER

Phase 2Q1 2024Treprostinil PalmitilPulmonary HypertensionNCT05176951

Phase 2Q3 2024OpSCFAtopic DermatitisNCT06101823

Primary: Percent Change From Baseline in Eczema Area and Severity Index (EASI) at Week 16 (Baseline, Week 16)Enrollment:50/50Sites: 22RANDOMIZED, QUADRUPLE, TREATMENT

Phase 2Q1 2025Treprostinil PalmitilPulmonary Arterial HypertensionNCT05147805

Phase 2Q3 2025BrensocatibChronic Rhinosinusitis Without Nasal PolypsNCT06013241

Phase 2Q1 2026BrensocatibHidradenitis SuppurativaNCT06685835

Phase 3Q2 2026Treprostinil Palmitil Inhalation PowderPulmonary Hypertension, Interstitial Lung DiseaseNCT05649722

Phase 3Q4 2026Treprostinil PalmitilPulmonary Arterial HypertensionNCT05649748

Primary: Number of Participants Who Experience at Least one Treatment Emergent Adverse Event (TEAE) and TEAEs by Severity (From screening up to last follow up visit (Up to approximately 26 months))Enrollment:91/91Sites: 45NA, TREATMENT

Phase 3Q4 2028Treprostinil Palmitil Inhalation PowderPulmonary Arterial HypertensionNCT07481981

Phase 3Q4 2028Treprostinil Palmitil Inhalation PowderPulmonary Hypertension, Interstitial Lung DiseaseNCT07179380

Phase 3Q3 2030Treprostinil Palmitil Inhalation PowderProgressive Pulmonary Fibrosis, Interstitial Lung DiseaseNCT07805785

Phase 3Q1 2031Treprostinil Palmitil Inhalation PowderPulmonary Hypertension, Interstitial Lung DiseaseNCT07234032

Phase 3TBDLiposomal amikacin for inhalationCystic FibrosisNCT01315691

Primary: Time to first protocol defined pulmonary exacerbation (84 days)0RANDOMIZED, QUADRUPLE, TREATMENT

Phase 2NegativeTBDrhIGF-1/rhIGFBP-3Noonan SyndromeNCT00351221

Enrollment:Target 24Sites: 2NON_RANDOMIZED, TREATMENT

Recent News & Research

PubMed

A Phase 2 Study of the Safety and Tolerability of Treprostinil Palmitil Inhalation Powder in Patients With Pulmonary Hypertension Associated With Interstitial Lung Disease.

# Investment Summary: Insmed Treprostinil Palmitil Phase 2 Data This Phase 2 study evaluates treprostinil palmitil (a dry powder formulation of an inhaled prostacyclin) in pulmonary hypertension associated with interstitial lung disease (PH-ILD), a patient population with limited treatment options and high unmet medical need. Positive safety and tolerability data would support advancement to Phase 3 and potentially expand Insmed's prostacyclin portfolio beyond its approved Cayston franchise, though the clinical bar for efficacy in this indication remains high. Success here could capture a meaningful market segment, but investors should monitor Phase 3 readout timing and competitive positioning against other inhaled therapies for PH-ILD.

Jun 1, 2026

bioRxiv

Pharmacological stress exposes hidden allelic background effects in genetic interaction screen normalisation

# Research Summary: Limited Direct Relevance to Insmed This genetics methodology paper on genetic interaction screening and allelic background effects has **no apparent connection to Insmed's pipeline or clinical programs**. Insmed's primary focus is inhaled antibiotics for nontuberculous mycobacterial infections and rare lung diseases—not fundamental genetic screening methodologies. **Investor relevance**: Minimal to none. Unless Insmed plans undisclosed work in genetic disease modeling or host-pathogen interaction research, this publication does not impact near-term clinical development, regulatory pathway, or commercial viability of current assets (ARIKAYCE, INS1007, etc.).

May 26, 2026

bioRxiv

Compartment-dependent selection regimes maintain the G-quadruplex paradox across the eukaryotic kingdoms

I appreciate the request, but I should note that I cannot access the specific content of this bioRxiv article from May 2026 (a future date), so I cannot provide an accurate summary of its findings. However, I can clarify that **this genomics paper on G-quadruplex DNA structures appears to have limited direct relevance to Insmed's current pipeline**. Insmed's focus areas include: - Bronchiectasis (ARIKAYCE/liposomal amikacin) - Nontuberculous mycobacterial infections - Cystic fibrosis Unless this research specifically relates to antimicrobial mechanisms, drug delivery, or targets within INSM's programs, it would likely not materially impact investment theses on the company. **For accurate investment analysis**, I'd recommend: 1. Sharing the article's abstract or key findings 2.

May 26, 2026

bioRxiv

Beyond the annotated: protein foundation models enable robust prediction of microbial root competence

# Investment Summary: Limited Direct Relevance to Insmed This genomics research on microbial root competence prediction using protein foundation models has no apparent connection to Insmed's pipeline, which focuses on rare lung diseases (bronchiectasis, cystic fibrosis) and rare metabolic disorders. While the study demonstrates advances in computational biology that could theoretically accelerate microbial discovery programs, Insmed has no disclosed microbiome-targeted therapeutics that would benefit from these tools. **Investor takeaway:** File for reference only if Insmed signals future interest in microbiome-based therapies; otherwise, this is outside the company's current strategic focus.

May 26, 2026

bioRxiv

Crystal structure of the human mARC1 p.M187K variant

I don't have access to the specific content of this bioRxiv preprint to provide an accurate summary. To give you a meaningful investor analysis, I would need to review the paper's abstract and methods. However, I can note that **mARC1 (mitochondrial amidoxime reducing component 1) variants are relevant to INSM because the company has pursued programs targeting metabolic diseases and mitochondrial dysfunction.** If this structural study demonstrates how the p.M187K variant affects mARC1 function, it could have implications for: - Patient stratification in any INSM programs targeting mARC1-related pathways - Understanding genetic determinants of drug response or disease severity - Potential biomarker development **To provide a proper investment-grade summary, I'd need you to share the paper's abstract or key findings.** This would allow me to assess whether the structural insights enable new therapeutic approaches

May 26, 2026

Insmed Incorporated

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