Insmed Incorporated Announces Proposed Public Offering Of Common Stock
BRIDGEWATER, N.J.--(BUSINESS WIRE)--Insmed Incorporated (Nasdaq:INSM) announced today that it has commenced an underwritten public offering of $80 million of its common stock. All of the shares of common stock in the offering are to be sold by Insmed.
Insmed intends to use the net proceeds from this offering to fund further clinical development of ARIKAYCE™, or liposomal amikacin for inhalation, to treat nontuberculous mycobacteria (NTM) lung disease patients and Pseudomonas aeruginosa lung infections in cystic fibrosis (CF) patients, to fund its efforts to obtain regulatory approvals and commercialize ARIKAYCE for NTM patients and Pseudomonas aeruginosa in CF patients, to invest in increased third-party manufacturing capacity in anticipation of possible commercial launch of ARIKAYCE in Europe and the United States, and the balance to fund working capital, capital expenditures, general research and development, and other general corporate purposes, which may include the acquisition or in-license of additional compounds, product candidates, technology or businesses.
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