INSM Stock Jumps on 2025 Preliminary Sales, 2026 Goals Announced

Core Insights - Insmed's shares increased by over 3% following the announcement of preliminary sales figures for FY25, which exceeded expectations and included future milestones for 2026 [1] Financial Performance - Insmed reported preliminary revenues of $606.4 million for FY25, surpassing the Zacks Consensus Estimate of $509.5 million, with sales driven entirely by Arikayce and Brinsupri [2] - Arikayce sales were approximately $433.8 million for FY25, reflecting a 19% year-over-year increase and exceeding prior guidance of $420-$430 million [4] - Brinsupri sales reached $172.7 million for FY25, with $144.6 million generated in Q4, marking a strong uptake for a drug launched in August [5] Stock Performance - Investor sentiment is optimistic regarding Brinsupri's sales potential, with some analysts suggesting it could achieve blockbuster status if growth continues [6] - Insmed's stock has increased by 155% over the past year, significantly outperforming the industry average growth of 20% [6] 2026 Expectations and Pipeline Developments - For 2026, Insmed anticipates Arikayce sales between $450 million and $470 million, indicating a projected 6% growth year-over-year [8] - The company has completed patient enrollment for the phase III ENCORE study evaluating Arikayce for newly infected MAC lung disease patients, with top-line data expected in March or April [9] - Brinsupri is also being evaluated in the phase IIb CEDAR study for hidradenitis suppurativa, with data expected in Q2 2026 [10] - Insmed is advancing its investigational treprostinil palmitil inhalation powder (TPIP) with multiple late-stage studies planned for 2026 across various indications [11] - The company is progressing with its gene therapy candidates, INS2101 for Duchenne muscular dystrophy and INS1202 for ALS, with clinical studies anticipated soon [12]