Core Insights - Insmed has experienced a landmark year with a first FDA approval for a disease and strong launch data in pulmonary arterial hypertension (PAH) [1] - The next 18 months are expected to be even more eventful with successful trial readouts and new product approvals [2] Company Developments - The ASPEN trial readout was successful, leading to the approval of brensocatib for bronchiectasis treatment [2] - The company is focusing on three key programs: ARIKAYCE, which is approved for refractory MAC lung disease, and is expected to expand its market opportunity significantly from 30,000 patients to over 250,000 with the upcoming ENCORE trial readout [2]