Insmed dips after $750 mln stock sale

Insmed

12/06/2025 12:43

** Insmed's INSM.O shares down 1.1% at $96.94 premarket after biopharma firm's overnight follow-on priced

    ** Bridgewater, New Jersey-based Insmed late Weds announced ~7.8 mln shares at $96 for $750 mln gross proceeds

    ** Offering size boosted from $650 mln, priced at 2% discount to last sale

    ** Goldman Sachs, Leerink, BofA, Jefferies and JP Morgan are jt bookrunners

    ** On Tues, INSM shares soared 29% after co said its inhaled drug, treprostinil palmitil, reduced blood pressure in the lungs and improved exercise capacity in patients in mid-stage study

    ** The shares added another 7.8% on Weds, closing at a more than two-decade high

    ** Co plans to use net offering proceeds for continued R&D and development of its product candidates, per the SEC filing

    ** With ~182 mln shares outstanding, INSM has ~$17.8 bln market cap

    ** Through Weds close, stock up 42% YTD

    ** All 18 analysts are bullish on INSM including 5 "strong buy" ratings and median PT of $110 up from $98 a month ago, according to most recent LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))