Insmed (INSM) Investor presentation summary

Strategic focus and therapeutic areas

• Pursues first- and best-in-class therapies across respiratory, immunology & inflammation, and neuro/rare diseases, with a robust pipeline spanning all development phases.

• Key assets include BRINSUPRI (brensocatib) for bronchiectasis and hidradenitis suppurativa, ARIKAYCE for MAC lung disease, and TPIP for pulmonary hypertension indications.

• Pipeline includes gene therapies and antisense oligonucleotides for rare neuromuscular diseases.

Commercial performance and financial outlook

• BRINSUPRI achieved FDA approval for NCFB and generated ~$144.6M in U.S. net revenues in Q4 2025, on track for a leading specialty respiratory launch.

• ARIKAYCE posted $433.8M in FY2025 worldwide sales, with strong double-digit growth in both U.S. and international markets.

• 2026 revenue guidance: BRINSUPRI at least $1B (mid-20% to low-30% gross-to-net), ARIKAYCE $450M–$470M (low-20% to mid-20% gross-to-net).

Clinical and regulatory catalysts

• Multiple late-stage readouts and regulatory filings expected in the next 18+ months, including ARIKAYCE label expansion, CEDAR Ph2 in HS, and several TPIP Phase 3 initiations.

• Plans to file sNDA for ARIKAYCE label expansion in MACLD in 2H 2026 and seek traditional approval.

• Phase 2b CEDAR trial in hidradenitis suppurativa fully enrolled, topline data expected Q2 2026.