Insmed ( NASDAQ: INSM ) has priced an underwritten public offering of 12.62M shares of its common stock at a price to the public of $51.50/share .
The gross proceeds to Insmed from the offering are expected to be ~$650M. In addition, Insmed has granted the underwriters a 30-day option to purchase up to an additional 1.89M shares of common stock.
Insmed intends to use the net proceeds to fund continued R&D of brensocatib as well as pre-commercial and, if approved, commercialization activities related to brensocatib, activities related to the further commercialization and development of ARIKAYCE ® , further research and development of treprostinil palmitil inhalation powder and any of the Company's other research product candidates, and for other general corporate purposes, including business expansion activities. The offering is expected to close on May 31, 2024. More on Insmed Insmed Strikes Gold With Phase 3 Bronchiectasis Win (Rating Upgrade) Insmed, Inc.
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