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Insmed reveals pricing of previously announced public offering; raises USD 650 million
AI Drug Discovery
May 30, 2024
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AI Drug Discovery

AI Drug Discovery

May 30, 2024

Insmed reveals pricing of previously announced public offering; raises USD 650 million

Funding

  • Global biopharmaceutical firm Insmed Incorporated has announced a public offering of 12.6 million of its common shares at USD 51.50 per share to raise approximately USD 650 million. The company has also announced a subsequent 30-day option granted to purchase up to an additional 1.9 million shares of common stock. The offering is expected to close on May 31, 2024.

  • The proceeds were earmarked to fuel the company’s R&D efforts, including the development and commercialization of ARIKAYCE (an anti-bacterial medication) and brensocatib (a small-molecule oral inhibitor). The funds will also be used for other general corporate and business expansion activities.

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