Overview
- Brinsupri generated $144.6 million in net revenue in its first full quarter, topping internal expectations.
- Management guided 2026 Brinsupri sales to at least $1 billion, with total company revenue projected to more than double 2025.
- Payer access now covers over 90% of targeted lives, with 2026 gross‑to‑net expected in the mid‑20s to low‑30s as about 11,550 patients started therapy in 2025.
- Insmed ended 2025 with roughly $1.4 billion in cash, supporting its stated path to cash‑flow positivity without raising additional capital.
- Key near‑term milestones include ARIKAYCE’s Phase III ENCORE readout expected in March or April and the planned start of the PALM‑PAH Phase III for TPIP in the first half of 2026 following orphan designation.