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Insmed Incorporated (INSM) Stock: Price, Forecast & Analyst Target

Insmed Incorporated (INSM) — MoonshotScore 25/100 (Weak band), calculated Oct 4, 2026. Price $111.12 (+2.33%), as of the Oct 2, 2026 trading session; market cap $24.1B. Expected results Oct 29, 2026.

Educational signal · not a buy or sell recommendation · How to read this

Market value / cash and short-term investments: 20.77× (market value Oct 2, 2026; cash Jun 30, 2026) · expected results Oct 29, 2026

$111.12 +$2.53 (+2.33%) Market Cap $24.1B

Insmed Incorporated · INSM · NASDAQ · Healthcare · Biotechnology

Research dated 2026-09-12: Insmed is a commercial rare-lung-disease biopharma built around ARIKAYCE while expanding through BRINSUPRI and TPIP. What matters is whether rapidly rising commercial revenue can outrun launch and clinical investment before liquidity erodes.

Price as of Oct 2, 2026

Key Statistics

25 of 100

MoonshotScore v2 · Insmed (INSM)

Weak
Business Quality Thin (34)
Financial Safety Strained (28)
Valuation Full (40)
Growth Durability Flat (41)
Momentum Quiet (42)
Why this rating? Method, drivers & history

Bands for the MoonshotScore: Exceptional 80-100 · Strong 65-79 · Fair 45-64 · Weak below 45.

  • Business Quality — Is this a genuinely good business?
  • Financial Safety — Could this blow up on me?
  • Valuation — Am I paying a fair price?
  • Growth Durability — Is the growth real and likely to last?
  • Momentum — Is the market already moving on this?
The ten-second read ·

Weak quality and a strained balance sheet, though growth is only middling. Business Quality: Thin; Financial Safety: Strained; Valuation: Full; Growth Durability: Flat; Momentum: Quiet.

  • quarterly revenue $425M (Q2 FY2026, quarter ended Jun 2026)
  • EPS beat 2 of 8
  • Altman Z 6.86 · Piotroski F 4

Holding back: weak fundamentals, balance-sheet strain

What has the MoonshotScore done over time?

MoonshotScore snapshots recorded for INSM (29 recorded, newest six shown)
RecordedScoreBand
25Weak
25Weak
25Weak
25Weak
25Weak
25Weak

The score was 25 in the stored Oct 3, 2026 snapshot and remains 25 in the current publication computed Oct 4, 2026 (0).

Calculation uses the most recent completed US trading session. Live price changes do not update the score immediately.

Computed · Educational signal · not a buy or sell recommendation · How the MoonshotScore is computed →

Price & valuation

Dates shown where recorded
MeasureValueAs of
Latest provided price$111.12
Change on the day+2.33%
52-week range$90.39 – $212.75
Market capitalisation$24.1B
Price / earnings (trailing)244.75
Shares traded on the day4.14M
Beta (volatility vs the S&P 500)0.82

Price & events

Weekly closing price with reported quarters marked Weekly closing price from Sep 5, 2025 to Oct 2, 2026: low $94, high $208, latest $111. 4 reported quarters marked, 2 above and 2 below the recorded estimate. 1 other dated event marked. $208 $94 high $208 Oct 30, 2025 · Earnings results · reported below the recorded estimate · close $1901Feb 19, 2026 · Earnings results · reported below the recorded estimate · close $1652May 7, 2026 · Earnings results · reported above the recorded estimate · close $1013Aug 6, 2026 · Earnings call · management outlook · no recorded estimate to compare · close $1314Aug 6, 2026 · Earnings results · reported above the recorded estimate · close $1315 Sep 5, 2025 Oct 2, 2026 · $111 $145Sep 5, 2025$145Sep 19, 2025$157Oct 3, 2025$166Oct 17, 2025$190Oct 31, 2025$193Nov 14, 2025$208Nov 28, 2025$197Dec 12, 2025$178Dec 26, 2025$176Jan 9, 2026$156Jan 23, 2026$150Feb 6, 2026$165Feb 20, 2026$140Mar 6, 2026$136Mar 20, 2026$162Apr 2, 2026$144Apr 17, 2026$133May 1, 2026$109May 15, 2026$107May 29, 2026$98Jun 12, 2026$103Jun 26, 2026$116Jul 10, 2026$107Jul 24, 2026$131Aug 7, 2026$126Aug 21, 2026$126Sep 4, 2026$120Sep 18, 2026$111Oct 2, 2026

Triangles mark reported quarters on the line: pointing up is above the recorded estimate, down is below, a diamond means no estimate on file or a dated event that is not a results report. Numbers key to the dated list. Point at or tab to any week for its close.

Events behind the price

  • · Earnings results · below the recorded estimate
  • · Earnings results · below the recorded estimate
  • · Earnings results · above the recorded estimate
  • · Earnings call · management outlook
  • · Earnings results · above the recorded estimate

Results dates follow the earnings feed; call dates follow the transcript provider. Nearby dates do not establish that an event caused a price move.

Upcoming events

As of

  1. Next results dueProvider estimate

Management outlook

  • We now expect approximately 7,000 new patient starts per quarter for the remaining quarters in 2026, which is reflected in our updated revenue guidance.

    William Lewis · Statement from

  • Therefore, we expect gross to net for BRINSUPRI to remain within this updated guidance range for each of the remaining quarters in 2026.

    Sara Bonstein · Statement from

Statement dates identify the earnings call, not a deadline. Management expectations and provider estimates can change.

Read management statements

Council Score · weighted blend of 2 available disciplines

Council score for Insmed (INSM): Bearish Lean

34/100 · D

Some lenses disagree with the MoonshotScore. Compare their readings below; each uses a different method.

5-Factor Breakdown

Growth Durability Neutral
Momentum Neutral
Business Quality Weak
Financial Safety Weak
Valuation Neutral

Legends Council

6 lenses, 6 current

AI simulations built from the named investors' published principles. Not affiliated with, endorsed by, or the opinion of these individuals. How these lenses are built

Dalio-style lens (simulated) Ray Dalio Favorable read
Griffin-style lens (simulated) Ken Griffin Unfavorable read
Simons-style lens (simulated) Jim Simons Neutral read
Englander-style lens (simulated) Izzy Englander Neutral read
Klarman-style lens (simulated) Seth Klarman Unfavorable read
Moon AI lens (model) Unfavorable read

Read on: Oct 4, 2026

Munger's Mindset

Balance Sheet & Valuation · historical

Financial Health Neutral
Margin of Safety Fairly Valued
Profit Margin Weak
Revenue Growth Strong
Debt/Equity Weak
ROE Negative
Gross Margin Strong

Read on: Sep 9, 2026 · older than the 27 hours refresh window; not a current reading

How to read these bars and different assessments

Council is a separate blend of available disciplines; MoonshotScore above remains the five-pillar research rating.

Bars show each model's ordered assessment on its own scale, not a probability or a comparable investment return. The adjacent words give the assessment; more filled segments indicate a stronger model reading.

One of these lenses reads this company more favourably than the MoonshotScore does: Dalio-style lens. Each lens is a separate scoring function over its own inputs, so a disagreement is a difference of method rather than a correction — the page's answer stays the MoonshotScore above.

On Sep 9, 2026, the Munger lens read the price at that time as fairly valued against its own estimate of value.

Readings on this page are from Oct 5, 2026, except a card that shows its own read date.

Watch the INSM film — every key number, told as a short cinematic story

~2 min · open the film

1 · What is it?

What is Insmed (INSM), and what does it report?

Short answer · as of

Insmed is not a development-only biotechnology company. It markets ARIKAYCE as part of an antibacterial regimen for adults with MAC lung disease, while BRINSUPRI and the inhaled TPIP program broaden its exposure to bronchiectasis and other rare lung disorders.

Research dated 2026-09-12.

Insmed is not a development-only biotechnology company. It markets ARIKAYCE as part of an antibacterial regimen for adults with MAC lung disease, while BRINSUPRI and the inhaled TPIP program broaden its exposure to bronchiectasis and other rare lung disorders.

Revenue is reported within an aggregate segment rather than as separate product businesses. The headline income statement therefore measures the combined commercial operation, while research spending captures an unusually active pipeline alongside marketed therapies.

Sources (as of 2026-09-12): Sector / industry (provider taxonomy); Business description; Revenue by segment; Annual revenue and net result (USD millions); Quarterly income statement (USD thousands)

2 · Latest results

What do the latest results show for Insmed (INSM)?

Short answer · as of

The most recent reported quarter, Q2 FY2026, carried revenue of $425M.

Research dated 2026-09-12.

Revenue accelerated sharply and reached the high point of the reported quarterly series. Gross profit rose with it, the operating loss almost disappeared, and the net loss contracted dramatically; reported revenue and earnings also surpassed market estimates. Operating cash use improved but remained negative, so accounting progress has not yet become cash generation.

Management links the commercial outlook to BRINSUPRI patient starts and expects net realization from the product to remain within its updated range. At the same time, it plans heavier spending on the BRINSUPRI launch, TPIP clinical programs, consumer promotion, and commercial infrastructure in Japan, creating a direct test of whether adoption can scale faster than the supporting cost base.

Sources (as of 2026-09-12): Quarterly income statement (USD thousands); Annual revenue and net result (USD millions); Operating cash flow by quarter (USD millions); Reported versus estimated, last 8 quarters; Management outlook — dated call excerpts

Where is operating spending going?

Revenue alongside research and development, selling, general and administrative expenses, and the FMP standardized operating result.

Latest quarter · revenue
$425.49M Jun 30, 2026
Latest quarter · R&D
$210.03M Jun 30, 2026
Latest quarter · SG&A
$247.47M Jun 30, 2026
Latest quarter · FMP standardized operating result
−$1.55M Jun 30, 2026
Where is operating spending going? — FMP standardized evidence
Period endRevenueR&DSG&AFMP standardized operating result
Jun 30, 2026$425.49M$210.03M$247.47M−$1.55M
Mar 31, 2026$305.96M$209.49M$247.26M−$200.28M
Dec 31, 2025$263.84M$254.91M$212.48M−$249.71M
Sep 30, 2025$142.34M$186.41M$186.38M−$366.00M

USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow.

Did results meet expectations?

Reported earnings and revenue alongside the estimates recorded by the provider.

Latest report · revenue
$425.49M Aug 6, 2026
Latest report · revenue estimate
$395.50M Aug 6, 2026
Latest report · revenue vs estimate
Above estimate Aug 6, 2026
Latest report · EPS vs estimate
Above estimate Aug 6, 2026
Did results meet expectations? — reported evidence
Report dateRevenue · reportedRevenue · estimateEPS · reportedEPS · estimate
Aug 6, 2026$425.49M$395.50M−$0.0600−$0.6724
May 7, 2026$305.96M$300.81M−$0.7600−$0.9634
Feb 19, 2026$263.84M$231.25M−$1.5400−$1.0700
Oct 30, 2025$142.34M$115.45M−$1.7500−$1.3300

Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined.

Quarterly income statement — 4 quarters
Revenue, net income and earnings per share by quarter
PeriodRevenueNet incomeEPS
Q2 FY2026$425M-$13M-$0.06 (diluted)
Q1 FY2026$306M-$164M-$0.76 (diluted)
Q4 FY2025$264M-$328M-$1.54 (diluted)
Q3 FY2025$142M-$370M-$1.75 (diluted)
3 · Financial strengths and risks

What are the financial strengths and risks for Insmed (INSM)?

Short answer

Cash and short-term investments were $1.16B at the Jun 30, 2026 balance-sheet date. Operating cash flow was −$88.83M for the quarter ended Jun 30, 2026, meaning operations used cash. These figures do not establish a cash runway.

Research dated 2026-09-12.

Cash and short-term investments exceed total debt, and the liquidity ratios indicate substantial near-term coverage. The balance carries no separately classified long-term investments, so the readily available pool is the relevant funding base.

That cushion is being consumed. Operating cash flow has remained negative throughout the displayed series, cash finished below its opening level across the measured window, and the internally calculated runway is finite. Management believes current resources can carry the business through cash-flow positivity without another capital raise, but that claim depends on the recent earnings improvement persisting while launch and research spending expand.

Valuation adds execution pressure: net cash is small relative to market value, while sales and book multiples are elevated despite negative trailing profitability. The wide range of longer-horizon revenue estimates shows how sensitive the narrative remains to commercial uptake and pipeline delivery.

Sources (as of 2026-09-12): Cash, investments and debt; Cash and investment components; Cash and short-term investments over time (USD millions); Cash decline over the reported window; Cash runway cross-check (ours); Trailing twelve-month ratio set; Cash against market value; Analyst revenue and earnings estimates (average); Management outlook — dated call excerpts

Data-derived red flags

  • Inconsistent delivery — missed Wall Street EPS estimates in 6 of the last 8 reported quarters.
  • Rich valuation — a P/E of 244.75 runs well above the Healthcare sector’s ~21.10x, leaving little room for a miss.

How much cash does the business generate or use?

Quarterly operating cash flow shows cash generated or used by operations.

Latest quarter · operating cash flow
−$88.83M Jun 30, 2026
Previous quarter · operating cash flow
−$222.74M Mar 31, 2026
How much cash does the business generate or use? — reported evidence
Period endOperating cash flowCapital expenditure (reported)
Jun 30, 2026−$88.83M−$6.26M
Mar 31, 2026−$222.74M−$3.48M
Dec 31, 2025−$247.60M−$46.59M
Sep 30, 2025−$219.76M−$2.42M

Operating cash-flow bars share one scale and show magnitude; negative values mean cash used.

USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway.

4 · What to check next?

What should you watch next at Insmed (INSM)?

Short answer · as of

The next earnings report is expected on Oct 29, 2026.

Research dated 2026-09-12.

BRINSUPRI patient starts, realized revenue after concessions, and sequential revenue growth are the most direct commercial checks. The scheduled earnings release also provides a clear comparison against market expectations after recent results exceeded revenue and earnings estimates.

Cash use deserves equal attention. Watch whether operating cash outflow continues to narrow even as Insmed funds branded promotion, Japanese commercial infrastructure, and TPIP development; renewed deterioration would weaken management’s assertion that existing resources can bridge the company to cash generation.

Sources (as of 2026-09-12): Next earnings report; Reported versus estimated, last 8 quarters; Quarterly income statement (USD thousands); Operating cash flow by quarter (USD millions); Cash and short-term investments over time (USD millions); Management outlook — dated call excerpts

What management is planning

Management expectations, not completed milestones or guarantees. Selected verbatim excerpts; dates follow the transcript provider.

  1. We now expect approximately 7,000 new patient starts per quarter for the remaining quarters in 2026, which is reflected in our updated revenue guidance.

    William Lewis ·

  2. Therefore, we expect gross to net for BRINSUPRI to remain within this updated guidance range for each of the remaining quarters in 2026.

    Sara Bonstein ·

  3. While we continue to expect to increase revenue generation in the second half of the year, we simultaneously expect to invest more in important initiatives to drive future growth, including the Phase III programs for TPIP across 4 indications, the launch and branded direct-to-consumer advertising for BRINSUPRI and incremental investments in Japan to build out an appropriate sales force and other commercial infrastructure to support future launches of both BRINSUPRI and first-line ARIKAYCE.

    Sara Bonstein ·

  4. We continue to believe we are sufficiently resourced to fund our business through cash flow positivity next year without raising additional capital.

    William Lewis ·

5 · Peer comparison

How does Insmed compare with its peers?

Short answer

Insmed's score ranks 13th of 13 in the bounded comparison shown, against 12 same-model peers. These are company scores, not expected investment returns. The set lists named competitors first, then companies in the same data-provider industry classification closest in market value; that classification is the provider's, not our judgment of business similarity.

Research dated 2026-09-12.

Insmed sits between development-stage biotechnology and mature specialty pharmaceuticals. ARIKAYCE already gives it a commercial rare-lung-disease franchise, while BRINSUPRI commercialization and TPIP development preserve the clinical and launch risk normally associated with a pipeline company.

Its aggregate segment presentation also differs from businesses that disclose mature product franchises separately. Investors must judge the commercial transition through consolidated revenue, margins, spending, and cash use rather than clean product-level profit lines.

Sources (as of 2026-09-12): Business description; Revenue by segment; Annual revenue and net result (USD millions); Quarterly income statement (USD thousands); Trailing twelve-month ratio set; Management outlook — dated call excerpts

Peer set — price, market value and MoonshotScore
CompanyPriceMarket valueScore
Incyte Corporation (INCY) Same industry, near in market value$115.30 Oct 2, 2026$23.4B98 5-pillar Oct 4, 2026
Exelixis, Inc. (EXEL) Same industry, near in market value$58.39 Oct 2, 2026$14.7B98 5-pillar Oct 4, 2026
United Therapeutics Corporation (UTHR) Same industry, near in market value$541.70 Oct 2, 2026$23.0B97 5-pillar Oct 4, 2026
Bio-Techne Corporation (TECH) Same industry, near in market value$72.40 Oct 2, 2026$11.3B93 5-pillar Oct 4, 2026
Corcept Therapeutics Incorporated (CORT) Same industry, near in market value$116.23 Oct 2, 2026$12.6B91 5-pillar Oct 4, 2026
Neurocrine Biosciences, Inc. (NBIX) Same industry, near in market value$143.18 Oct 2, 2026$14.4B90 5-pillar Oct 4, 2026
Alnylam Pharmaceuticals, Inc. (ALNY) Same industry, near in market value$219.72 Oct 2, 2026$29.4B89 5-pillar Oct 4, 2026
Cardinal Health, Inc. (CAH) Named competitor$228.30 Oct 2, 2026$53.5B88 5-pillar Oct 4, 2026
Ascendis Pharma A/S (ASND) Same industry, near in market value$227.87 Oct 2, 2026$14.2B88 5-pillar Oct 4, 2026
Halozyme Therapeutics, Inc. (HALO) Same industry, near in market value$109.86 Oct 2, 2026$13.0B88 5-pillar Oct 4, 2026
Agilent Technologies, Inc. (A) Named competitor$167.77 Oct 2, 2026$47.4B84 5-pillar Oct 4, 2026
Haleon plc (HLN) Named competitor$8.80 Oct 2, 2026$38.8B78 5-pillar Oct 4, 2026
Insmed (INSM) — this page$111.12$24.1B25

Only 5-pillar scores are ranked together. Other models are not directly comparable. Price and score dates are shown separately; market-value dates are unavailable.

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The records behind this page

Analyst targets & estimates

What analysts have on file

Price target, low to high
$169.00 – $235.00
Consensus target
$197.00
Median target
$196.50

Consensus record · Captured .

Measured against a quoted price of $111.12 (as of Oct 2, 2026).

Insider activity

Form 4 records via FMP · Of the newest 100 records, those within the last 180 days, newest dated Sep 9, 2026

Transactions
96
Identified insiders
12
Purchases
0
Sales
48
Other transactions
48

Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.

Who holds the shares?

Institutional ownership reported through 13F filings.

Reporting holders
718 Period end Jun 30, 2026
Previous quarter · holders
710 Prior to period end Jun 30, 2026
Who holds the shares? — reported evidence
Holders in provider snapshotShares
Fmr LLC16,143,583
Blackrock, INC.15,807,984
Jpmorgan Chase & Co10,428,170
Vanguard Portfolio Management LLC10,407,962
Vanguard Capital Management LLC9,790,865

Quarterly filings lag the period end. Holder rows are names in the provider snapshot, not a verified ranking; individual filing dates are not supplied. Related managers may appear separately, so these positions are not summed. Holder snapshot as of Jun 30, 2026.

What has been published about Insmed (INSM)?

Read these with our analysis →

What Investors Ask About Insmed (INSM) — Healthcare

Research dated 2026-09-12; the answers below are from that research, and the full attribution is under Sources. The last 2 questions are answered from this page's own dated data, not from the research.

How does ARIKAYCE make Insmed different from a development-stage biotech?

ARIKAYCE gives Insmed an existing commercial business serving adults with MAC lung disease, so reported revenue reflects marketed therapy rather than only licensing or research activity. Pipeline execution still matters because BRINSUPRI and TPIP carry much of the expansion opportunity.

Sources (as of 2026-09-12): Business description; Revenue by segment; Annual revenue and net result (USD millions)

Why are BRINSUPRI patient starts important for Insmed?

Patient starts are management’s stated bridge between launch activity and higher revenue. Their value depends on sustained treatment demand and the net revenue retained after concessions.

Sources (as of 2026-09-12): Management outlook — dated call excerpts; Quarterly income statement (USD thousands); Reported versus estimated, last 8 quarters

What does TPIP spending mean for Insmed’s cash profile?

TPIP adds clinical investment while the company is still using cash in operations. Progress can expand Insmed’s rare-lung pipeline, but spending on those programs competes with BRINSUPRI commercialization for the same liquidity pool.

Sources (as of 2026-09-12): Business description; Operating cash flow by quarter (USD millions); Cash, investments and debt; Management outlook — dated call excerpts

Can Insmed fund BRINSUPRI commercialization without new capital?

Management believes existing resources can fund the business through cash-flow positivity without another raise, and liquid assets currently exceed debt. Continued negative operating cash flow and planned commercial investment make that conclusion dependent on revenue scaling and cash use improving together.

Sources (as of 2026-09-12): Cash, investments and debt; Cash runway cross-check (ours); Operating cash flow by quarter (USD millions); Cash and short-term investments over time (USD millions); Management outlook — dated call excerpts

What is the INSM stock price today?

The last price recorded on this page for Insmed Incorporated (INSM) is $111.12, as of the Oct 2, 2026 trading session (source: Financial Modeling Prep (FMP) · quote). It is a provider snapshot, not a live exchange feed, so check a brokerage quote before you trade.

What is the INSM price target?

The analyst consensus price target for Insmed Incorporated (INSM) is $197.00 (range $169.00 to $235.00, median $196.50), per FMP data captured Oct 4, 2026. Targets are analyst opinions and change often; they are not a Stock Expert AI forecast.

Disclaimer: This content is for informational purposes only and does not constitute investment advice. Always do your own research and consult a financial advisor.

Research written by Codex (gpt-5.6-sol) on 2026-09-12. AI-authored analysis; source dates are shown with each answer. Editorial oversight is systemic, not page-by-page. Editorially accountable: Sedat ANAK, Founder and Editor-in-Chief.

Sources (as of 2026-09-12): Legal name; Business description; Quarterly income statement (USD thousands); Operating cash flow by quarter (USD millions); Management outlook — dated call excerpts

Sources — records for every figure on this page (81 figures)

The 81 rows below are exactly the facts the evidence-backed sections of this page printed — the 10-second verdict, the MoonshotScore, price and market value, the five questions with their receipts, and the records behind this page. Known dates and sources are recorded on their own rows; an em dash or UNRECORDED tier preserves a stored observation without inventing either. The quarterly income statement is provider-standardized (FMP) under one row, and scale definitions — a 0-100 rating, the band ladder, the Piotroski 0–9 range — are fixed rather than measured. No number in those sections was generated by a model. The register does not cover quoted third-party headlines, the dated council readings, or the Frequently Asked Questions; each of those says where it came from where it stands.

"As of" is the date the value is true for where the source carries one — a quarter end, a filing date, a price close, the day the score was computed. A cached observation with no source date remains undated; the page publication date is not used as a substitute.

OFFICIAL — 2 facts from SEC filings and earnings calls

OFFICIAL facts used on this page
Fact IDFactValue as shownAs ofTierSource
prod.outlookManagement outlook — call excerptsWilliam Lewis (Aug 6, 2026): We now expect approximately 7,000 new patient starts per quarter for the remaining quarters in 2026, which is reflected in our updated revenue guidance. Sara Bonstein (Aug 6, 2026): Therefore, we expect gross to net for BRINSUPRI to remain within this updated guidance range for each of the remaining quarters in 2026. Sara Bonstein (Aug 6, 2026): While we continue to expect to increase revenue generation in the second half of the year, we simultaneously expect to invest more in important initiatives to drive future growth, including the Phase III programs for TPIP across 4 indications, the launch and branded direct-to-consumer advertising for BRINSUPRI and incremental investments in Japan to build out an appropriate sales force and other commercial infrastructure to support future launches of both BRINSUPRI and first-line ARIKAYCE. William Lewis (Aug 6, 2026): We continue to believe we are sufficiently resourced to fund our business through cash flow positivity next year without raising additional capital.OFFICIALCompany earnings call, transcript via Financial Modeling Prep (FMP) — Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording.
id.hqSEC filing business addressBridgewater, NJOFFICIALSEC EDGAR filer business address — The SEC filer business address. Our market-data provider separately lists "700 US Highway 202/206, Bridgewater, NJ, 08807, US".

FMP — 71 facts from Financial Modeling Prep endpoint families

FMP facts used on this page
Fact IDFactValue as shownAs ofTierSource
earn.nextNext earnings dateOct 29, 2026FMPFinancial Modeling Prep (FMP) earnings calendar — The date is our provider's estimate until the company confirms it.
px.lastLatest provided price$111.12FMPFinancial Modeling Prep (FMP) · quote — Dated to the US trading session the price belongs to, derived from the quote record's timestamp (weekend and pre-open reads roll back to the previous weekday; exchange holidays are not modelled). The record does not establish an exchange execution time. Retrieved 2026-10-04T21:04:44.297Z.
px.changeChange on the day+2.33%FMPFinancial Modeling Prep (FMP) · quote
px.mcapMarket capitalisation$24.1BFMPFinancial Modeling Prep (FMP) · quote — Date unknown Market cap record date: 2026-10-02. FMP quote timestamp: 2026-10-02T20:00:01.000Z. Captured from FMP at 2026-10-04T21:04:43.044Z. No share-count basis is inferred; this page preserves the reported amount instead of recalculating it from shares.
px.change_absChange on the day, in dollars+$2.53FMPFinancial Modeling Prep (FMP) · quote
fin.q_revenueRevenue, Q2 FY2026$425MFMPFinancial Modeling Prep (FMP) · income statement (quarterly)
px.pePrice / earnings (trailing)244.75FMPFinancial Modeling Prep (FMP) · quote
px.volumeShares traded on the day4.14MFMPFinancial Modeling Prep (FMP) · quote
px.betaBeta0.82FMPFinancial Modeling Prep (FMP) company profile
id.ceoChief executiveWilliam H. LewisFMPFinancial Modeling Prep (FMP) key executives (proxy-derived) — Titles and pay come from the company's proxy statement as our provider parsed it.
id.employeesEmployees1,664FMPFinancial Modeling Prep (FMP) employee count, from the company's filing
fin.annualRevenue and net result by fiscal year5 fiscal years, FY2021 through FY2025: FY2021 revenue $188.46M, net result −$434.65M; FY2022 revenue $245.36M, net result −$481.53M; FY2023 revenue $305.21M, net result −$749.57M; FY2024 revenue $363.71M, net result −$913.77M; FY2025 revenue $606.42M, net result −$1.28BFMPFinancial Modeling Prep (FMP), from the company's 10-K income statements
fin.rev_mixReported revenue segmentsReportable Segment $606.42MFMPFinancial Modeling Prep (FMP) revenue segmentation, from the company's 10-K
fin.gross_marginGross margin (trailing twelve months)83.3%FMPFinancial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero.
fin.q_table.depth.2026-06-30.revenue_kRevenue — period end 2026-06-30$425.49MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-06-30.rd_kR&D — period end 2026-06-30$210.03MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-06-30.sga_kSG&A — period end 2026-06-30$247.47MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-06-30.operating_result_kFMP standardized operating result — period end 2026-06-30−$1.55MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.revenue_kRevenue — period end 2026-03-31$305.96MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.rd_kR&D — period end 2026-03-31$209.49MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.sga_kSG&A — period end 2026-03-31$247.26MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2026-03-31.operating_result_kFMP standardized operating result — period end 2026-03-31−$200.28MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.revenue_kRevenue — period end 2025-12-31$263.84MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.rd_kR&D — period end 2025-12-31$254.91MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.sga_kSG&A — period end 2025-12-31$212.48MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-12-31.operating_result_kFMP standardized operating result — period end 2025-12-31−$249.71MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.revenue_kRevenue — period end 2025-09-30$142.34MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.rd_kR&D — period end 2025-09-30$186.41MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.sga_kSG&A — period end 2025-09-30$186.38MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
fin.q_table.depth.2025-09-30.operating_result_kFMP standardized operating result — period end 2025-09-30−$366.00MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements — Quarterly statement note
earn.history.depth.2026-08-06.revenue_actualRevenue · reported — report date 2026-08-06$425.49MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-08-06.revenue_estimatedRevenue · estimate — report date 2026-08-06$395.50MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-08-06.eps_actualEPS · reported — report date 2026-08-06−$0.0600Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-08-06.eps_estimatedEPS · estimate — report date 2026-08-06−$0.6724Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-05-07.revenue_actualRevenue · reported — report date 2026-05-07$305.96MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-05-07.revenue_estimatedRevenue · estimate — report date 2026-05-07$300.81MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-05-07.eps_actualEPS · reported — report date 2026-05-07−$0.7600Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-05-07.eps_estimatedEPS · estimate — report date 2026-05-07−$0.9634Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-02-19.revenue_actualRevenue · reported — report date 2026-02-19$263.84MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-02-19.revenue_estimatedRevenue · estimate — report date 2026-02-19$231.25MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-02-19.eps_actualEPS · reported — report date 2026-02-19−$1.5400Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2026-02-19.eps_estimatedEPS · estimate — report date 2026-02-19−$1.0700Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-10-30.revenue_actualRevenue · reported — report date 2025-10-30$142.34MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-10-30.revenue_estimatedRevenue · estimate — report date 2025-10-30$115.45MReport date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-10-30.eps_actualEPS · reported — report date 2025-10-30−$1.7500Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
earn.history.depth.2025-10-30.eps_estimatedEPS · estimate — report date 2025-10-30−$1.3300Report date · FMPFinancial Modeling Prep (FMP) earnings — Earnings-history note
fin.q_tableQuarterly income statement4 quarters through Q2 FY2026FMPFinancial Modeling Prep (FMP) · income statement (quarterly), as filed
fin.cash_investmentsCash and short-term investments$1.16BFMPFinancial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review.
fin.opcf_latestLatest-quarter operating cash flow−$88.83MFMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Period end: 2026-06-30. Negative operating cash flow means cash used. This figure is not a cash-runway estimate.
fin.long_term_investmentsLong-term investments (classification unverified)$0.00FMPFinancial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability.
fin.total_debtTotal debt$579.88MFMPFinancial Modeling Prep (FMP), from the company's balance sheet — Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability.
fin.price_to_bookPrice to book value31.88×FMPFinancial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm — A ratio our provider could not compute is absent rather than shown as zero.
fin.opcf.depth.2026-06-30.operating_cash_flow_mOperating cash flow — period end 2026-06-30−$88.83MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2026-03-31.operating_cash_flow_mOperating cash flow — period end 2026-03-31−$222.74MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2026-06-30.capex_mCapital expenditure (reported) — period end 2026-06-30−$6.26MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2026-03-31.capex_mCapital expenditure (reported) — period end 2026-03-31−$3.48MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-12-31.operating_cash_flow_mOperating cash flow — period end 2025-12-31−$247.60MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-12-31.capex_mCapital expenditure (reported) — period end 2025-12-31−$46.59MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-09-30.operating_cash_flow_mOperating cash flow — period end 2025-09-30−$219.76MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
fin.opcf.depth.2025-09-30.capex_mCapital expenditure (reported) — period end 2025-09-30−$2.42MPeriod end · FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements — Cash-flow note
earn.pt_rangeAnalyst price target, low to high$169.00 – $235.00FMPFinancial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied
earn.pt_consensusConsensus analyst price target$197.00FMPFinancial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied
earn.pt_medianMedian analyst price target$196.50FMPFinancial Modeling Prep (FMP) · price-target consensus — Captured Oct 4, 2026 · Coverage not supplied
own.insidersInsider transactions via FMP96 transactions · 0 purchases, 48 sales, 48 other transactions · 12 identified insiders · of the newest 100 records, those within the last 180 days, newest dated Sep 9, 2026FMPFinancial Modeling Prep (FMP), carrying Form 4 transaction records — Purchases and sales use the reported transaction category. Other transactions include awards, exercises, gifts, withholding and unclassified activity; an acquisition or disposition alone is not a purchase or sale. These records do not establish intent.
own.institutions.depth.holdersReporting holders718FMPFinancial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Period end Jun 30, 2026
own.institutions.depth.holders_previous_quarterPrevious quarter · holders710FMPFinancial Modeling Prep (FMP) institutional ownership summary, from 13F filings — 13F filings are quarterly and lag the quarter end by up to 45 days. Prior to period end Jun 30, 2026
own.top_holders.depth.holder_0.sharesFmr LLC — shares in provider snapshot16,143,583FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_1.sharesBlackrock, INC. — shares in provider snapshot15,807,984FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_2.sharesJpmorgan Chase & Co — shares in provider snapshot10,428,170FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_3.sharesVanguard Portfolio Management LLC — shares in provider snapshot10,407,962FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.
own.top_holders.depth.holder_4.sharesVanguard Capital Management LLC — shares in provider snapshot9,790,865FMPFinancial Modeling Prep (FMP) institutional holders, from 13F filings — Provider snapshot as of 2026-06-30; individual filing date not supplied.

UNRECORDED — 3 facts from stored observations whose source was not recorded

UNRECORDED facts used on this page
Fact IDFactValue as shownAs ofTierSource
earn.historyReported versus estimated, recent quartersEPS beat 2 of 8UNRECORDEDStored earnings-history observation — Captured 2026-10-04
fin.scoresDistress and quality screensAltman Z 6.86 · Piotroski F 4UNRECORDEDStored financial-scores observation — Captured 2026-10-04
px.range5252-week range$90.39 – $212.75UNRECORDEDStored company-profile observation — Captured 2026-10-04

COMPUTED — 3 facts from our arithmetic, formula restated

COMPUTED facts used on this page
Fact IDFactValue as shownAs ofTierSource
fin.mcap_to_cashMarket value per dollar of cash and short-term investments20.77×—COMPUTEDComputed on this page from the figures above — The market capitalisation printed on this page divided by cash and short-term investments of $1.16B at Jun 30, 2026. Long-term investments are excluded and remain unclassified. Restrictions on cash and short-term investments require separate review. Market cap record date: 2026-10-02. Balance-sheet reference date: 2026-06-30. The inputs do not establish a single common source date for this ratio.
earn.history.depth.2026-08-06.revenue_actual.comparisonLatest report · revenue vs estimateAbove estimateReport date · COMPUTEDComputed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported revenue ($425.49M) with the recorded estimate ($395.50M) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns.
earn.history.depth.2026-08-06.eps_actual.comparisonLatest report · EPS vs estimateAbove estimateReport date · COMPUTEDComputed from Financial Modeling Prep (FMP) earnings — Earnings-history note — Method: compare reported EPS (−$0.0600) with the recorded estimate (−$0.6724) at displayed precision. Equal displayed values are in line. This compares reported results with recorded estimates, not investment returns.

OURS — 2 facts from Stock Expert AI's own score and rank

OURS facts used on this page
Fact IDFactValue as shownAs ofTierSource
ours.moonshotMoonshotScore v225 of 100 · Weak · pillars 34 / 28 / 40 / 41 / 42OURSStock Expert AI MoonshotScore v2 engine
ours.moonshot_changeMoonshotScore movement25 (stored snapshot Oct 3, 2026) → 25 (current publication computed Oct 4, 2026) (0)OURSStock Expert AI current score publication and immutable score snapshots

Fact-family notes

  1. Quarterly statement note. Source series as of 2026-06-30. USD. The operating result is the FMP-standardized value supplied by FMP; it may differ from a filing’s GAAP loss from operations when the provider classifies separately presented items differently. It is not net income or cash flow. Applies to Fact IDs: fin.q_table.depth.2026-06-30.revenue_k, fin.q_table.depth.2026-06-30.rd_k, fin.q_table.depth.2026-06-30.sga_k, fin.q_table.depth.2026-06-30.operating_result_k, fin.q_table.depth.2026-03-31.revenue_k, fin.q_table.depth.2026-03-31.rd_k, fin.q_table.depth.2026-03-31.sga_k, fin.q_table.depth.2026-03-31.operating_result_k, fin.q_table.depth.2025-12-31.revenue_k, fin.q_table.depth.2025-12-31.rd_k, fin.q_table.depth.2025-12-31.sga_k, fin.q_table.depth.2025-12-31.operating_result_k, fin.q_table.depth.2025-09-30.revenue_k, fin.q_table.depth.2025-09-30.rd_k, fin.q_table.depth.2025-09-30.sga_k, fin.q_table.depth.2025-09-30.operating_result_k.
  2. Earnings-history note. Source series as of 2026-08-06. Dates are report dates, not fiscal period ends. Revenue is in USD; EPS is USD per share, rounded to four decimals. The earnings feed does not establish a basic, diluted or adjusted basis. Earnings-feed EPS may differ from statement EPS; the two series are not combined. Applies to Fact IDs: earn.history.depth.2026-08-06.revenue_actual, earn.history.depth.2026-08-06.revenue_estimated, earn.history.depth.2026-08-06.revenue_actual.comparison, earn.history.depth.2026-08-06.eps_actual.comparison, earn.history.depth.2026-08-06.eps_actual, earn.history.depth.2026-08-06.eps_estimated, earn.history.depth.2026-05-07.revenue_actual, earn.history.depth.2026-05-07.revenue_estimated, earn.history.depth.2026-05-07.eps_actual, earn.history.depth.2026-05-07.eps_estimated, earn.history.depth.2026-02-19.revenue_actual, earn.history.depth.2026-02-19.revenue_estimated, earn.history.depth.2026-02-19.eps_actual, earn.history.depth.2026-02-19.eps_estimated, earn.history.depth.2025-10-30.revenue_actual, earn.history.depth.2025-10-30.revenue_estimated, earn.history.depth.2025-10-30.eps_actual, earn.history.depth.2025-10-30.eps_estimated.
  3. Cash-flow note. Source series as of 2026-06-30. USD. Negative operating cash flow means cash used. Capital expenditure keeps the provider’s reported sign; it is not added here to estimate free cash flow or runway. Applies to Fact IDs: fin.opcf.depth.2026-06-30.operating_cash_flow_m, fin.opcf.depth.2026-03-31.operating_cash_flow_m, fin.opcf.depth.2026-06-30.capex_m, fin.opcf.depth.2026-03-31.capex_m, fin.opcf.depth.2025-12-31.operating_cash_flow_m, fin.opcf.depth.2025-12-31.capex_m, fin.opcf.depth.2025-09-30.operating_cash_flow_m, fin.opcf.depth.2025-09-30.capex_m.
Published
Research standards
Methodology · Editorial policy · Corrections

Sources used for research written 2026-09-12

Historical evidence preserved with this analysis. Current figures are listed separately above.

EvidenceCaptured valueSource dateSource typeSource
Legal name
INSMED Inc

Our market-data provider lists the name as "Insmed Incorporated"; the filer's own record is used here.

2026-02-19OFFICIALSEC EDGAR — 10-K filed 2026-02-19
Business description
Insmed Incorporated operates as a biopharmaceutical enterprise focused on creating and introducing medical solutions for individuals facing severe and uncommon health conditions. The company's marketed treatment, ARIKAYCE, is administered to adult patients suffering from Mycobacterium avium complex (MAC) lung disease, serving as a component of a broader antibacterial drug regimen. In its development pipeline, Insmed is advancing Brensocatib, an oral and reversible inhibitor targeting dipeptidyl peptidase 1, which is being investigated for its potential in treating bronchiectasis and other disorders mediated by neutrophils. Additionally, the firm is developing Treprostinil Palmitil Inhalation Powder, an inhaled version of the treprostinil palmitil prodrug, designed to address pulmonary arterial hypertension and various other rare lung ailments. Founded in 1988, Insmed Incorporated maintains its primary corporate offices in Bridgewater, New Jersey.
2026-09-12FMPFinancial Modeling Prep (FMP) company profile
Quarterly income statement (USD thousands)
Captured record · 8 entries
  • Quarter ended 2026-06-30 — EPS: -$0.06 per share, R&D: $210.03M, SG&A: $247.47M, EPS basic: -$0.06 per share, EPS basis: diluted, Revenue: $425.49M, EPS diluted: -$0.06 per share, Net result: -$13.24M, Gross profit: $358.27M, Operating result: -$1.55M
  • Quarter ended 2026-03-31 — EPS: -$0.76 per share, R&D: $209.49M, SG&A: $247.26M, EPS basic: -$0.76 per share, EPS basis: diluted, Revenue: $305.96M, EPS diluted: -$0.76 per share, Net result: -$163.56M, Gross profit: $256.46M, Operating result: -$200.28M
  • Quarter ended 2025-12-31 — EPS: -$1.54 per share, R&D: $254.91M, SG&A: $212.48M, EPS basic: -$1.54 per share, EPS basis: diluted, Revenue: $263.84M, EPS diluted: -$1.54 per share, Net result: -$328.49M, Gross profit: $219.62M, Operating result: -$249.71M
  • Quarter ended 2025-09-30 — EPS: -$1.75 per share, R&D: $186.41M, SG&A: $186.38M, EPS basic: -$1.75 per share, EPS basis: diluted, Revenue: $142.34M, EPS diluted: -$1.75 per share, Net result: -$370.02M, Gross profit: $112.98M, Operating result: -$366.00M
  • Quarter ended 2025-06-30 — EPS: -$1.7 per share, R&D: $177.19M, SG&A: $154.76M, EPS basic: -$1.7 per share, EPS basis: diluted, Revenue: $107.42M, EPS diluted: -$1.7 per share, Net result: -$321.69M, Gross profit: $79.34M, Operating result: -$312.88M
  • Quarter ended 2025-03-31 — EPS: -$1.42 per share, R&D: $152.58M, SG&A: $147.54M, EPS basic: -$1.42 per share, EPS basis: diluted, Revenue: $92.82M, EPS diluted: -$1.42 per share, Net result: -$256.58M, Gross profit: $71.55M, Operating result: -$248.14M
  • Quarter ended 2024-12-31 — EPS: -$1.32 per share, R&D: $179.73M, SG&A: $142.51M, EPS basic: -$1.32 per share, EPS basis: diluted, Revenue: $104.44M, EPS diluted: -$1.32 per share, Net result: -$235.55M, Gross profit: $78.29M, Operating result: -$230.41M
  • Quarter ended 2024-09-30 — EPS: -$1.27 per share, R&D: $150.81M, SG&A: $118.93M, EPS basic: -$1.27 per share, EPS basis: diluted, Revenue: $93.42M, EPS diluted: -$1.27 per share, Net result: -$220.52M, Gross profit: $72.25M, Operating result: -$213.43M
2026-06-30FMPFinancial Modeling Prep (FMP), from the company's 10-Q and 10-K income statements
Operating cash flow by quarter (USD millions)
Captured record · 8 entries
  • Quarter ended 2026-06-30 — Capital expenditure: -$6.26M, Operating cash flow: -$88.83M
  • Quarter ended 2026-03-31 — Capital expenditure: -$3.48M, Operating cash flow: -$222.74M
  • Quarter ended 2025-12-31 — Capital expenditure: -$46.59M, Operating cash flow: -$247.60M
  • Quarter ended 2025-09-30 — Capital expenditure: -$2.42M, Operating cash flow: -$219.76M
  • Quarter ended 2025-06-30 — Capital expenditure: -$3.48M, Operating cash flow: -$205.57M
  • Quarter ended 2025-03-31 — Capital expenditure: -$10.07M, Operating cash flow: -$262.09M
  • Quarter ended 2024-12-31 — Capital expenditure: -$6.77M, Operating cash flow: -$195.98M
  • Quarter ended 2024-09-30 — Capital expenditure: -$3.69M, Operating cash flow: -$180.92M
2026-06-30FMPFinancial Modeling Prep (FMP), from the company's 10-Q cash-flow statements
Management outlook — dated call excerpts
Captured record · 4 entries
  • Call of 2026-08-06 — Quote: We now expect approximately 7,000 new patient starts per quarter for the remaining quarters in 2026, which is reflected in our updated revenue guidance., Speaker: William Lewis
  • Call of 2026-08-06 — Quote: Therefore, we expect gross to net for BRINSUPRI to remain within this updated guidance range for each of the remaining quarters in 2026., Speaker: Sara Bonstein
  • Call of 2026-08-06 — Quote: While we continue to expect to increase revenue generation in the second half of the year, we simultaneously expect to invest more in important initiatives to drive future growth, including the Phase III programs for TPIP across 4 indications, the launch and branded direct-to-consumer advertising for BRINSUPRI and incremental investments in Japan to build out an appropriate sales force and other commercial infrastructure to support future launches of both BRINSUPRI and first-line ARIKAYCE., Speaker: Sara Bonstein
  • Call of 2026-08-06 — Quote: We continue to believe we are sufficiently resourced to fund our business through cash flow positivity next year without raising additional capital., Speaker: William Lewis

Selected verbatim statements from the latest available call, dated by the transcript provider. Management expectations, not completed milestones or guarantees. Relative dates retain the speaker's wording.

2026-08-06OFFICIALCompany earnings call, transcript via Financial Modeling Prep (FMP)
Sector / industry (provider taxonomy)
Healthcare / Biotechnology

The company's SEC filings classify it under SIC 2834 — Pharmaceutical Preparations.

2026-09-12FMPFinancial Modeling Prep (FMP) company profile
Revenue by segment
Reportable Segment: $606.42M
2025-12-31FMPFinancial Modeling Prep (FMP) revenue segmentation, from the company's 10-K
Annual revenue and net result (USD millions)
Captured record · 5 entries
  • FY2025 — R&D: $771.09M, Revenue: $606.42M, Period end: 2025-12-31, Net result: -$1.28B
  • FY2024 — R&D: $598.37M, Revenue: $363.71M, Period end: 2024-12-31, Net result: -$913.77M
  • FY2023 — R&D: $571.01M, Revenue: $305.21M, Period end: 2023-12-31, Net result: -$749.57M
  • FY2022 — R&D: $397.52M, Revenue: $245.36M, Period end: 2022-12-31, Net result: -$481.53M
  • FY2021 — R&D: $272.74M, Revenue: $188.46M, Period end: 2021-12-31, Net result: -$434.65M
2025-12-31FMPFinancial Modeling Prep (FMP), from the company's 10-K income statements
Reported versus estimated, last 8 quarters
Captured record · 8 entries
  • Reported 2026-08-06 — EPS actual: -$0.06 per share, EPS estimated: -$0.6724 per share, Revenue actual: $425.49M, Revenue estimated: $395.50M
  • Reported 2026-05-07 — EPS actual: -$0.76 per share, EPS estimated: -$0.96338 per share, Revenue actual: $305.96M, Revenue estimated: $300.81M
  • Reported 2026-02-19 — EPS actual: -$1.54 per share, EPS estimated: -$1.07 per share, Revenue actual: $263.84M, Revenue estimated: $231.25M
  • Reported 2025-10-30 — EPS actual: -$1.75 per share, EPS estimated: -$1.33 per share, Revenue actual: $142.34M, Revenue estimated: $115.45M
  • Reported 2025-08-07 — EPS actual: -$1.7 per share, EPS estimated: -$1.3 per share, Revenue actual: $107.42M, Revenue estimated: $104.13M
  • Reported 2025-05-08 — EPS actual: -$1.42 per share, EPS estimated: -$1.34 per share, Revenue actual: $92.82M, Revenue estimated: $91.47M
  • Reported 2025-02-20 — EPS actual: -$1.32 per share, EPS estimated: -$1.17 per share, Revenue actual: $104.44M, Revenue estimated: $102.08M
  • Reported 2024-10-31 — EPS actual: -$1.27 per share, EPS estimated: -$1.2 per share, Revenue actual: $93.42M, Revenue estimated: $93.36M
2026-08-06FMPFinancial Modeling Prep (FMP) earnings
Cash, investments and debt
Total debt: $579.88M; Liquidity basis: cash and short-term investments; Total liabilities: $1.35B; Cash and short-term investments: $1.16B; Cash and investments: $1.16B; Long-term investments: $0; Long-term investments classification: unclassified

Long-term investments are shown separately; their marketability is not established by the provider field. The cash and short-term investment balance does not establish unrestricted availability.

2026-06-30FMPFinancial Modeling Prep (FMP), from the company's balance sheet
Cash and investment components
Total basis: cash short and long-term investments; Total: $1.16B; Cash and short-term investments: $1.16B; Long-term investments: $0; Long-term investments classification: unclassified

Sums the balance sheet's cash and short-term investments with its long-term investments.; The long-term investment field does not establish marketability; the sum is not a measure of available liquidity.; These provider fields do not establish investment access restrictions or explain differences from third-party cash figures.

2026-06-30COMPUTEDComputed from the balance sheet
Cash and short-term investments over time (USD millions)
Captured record · 8 entries
  • 2026-06-30 — Amount: $1.16B, Cash basis: cash and short-term investments
  • 2026-03-31 — Amount: $1.22B, Cash basis: cash and short-term investments
  • 2025-12-31 — Amount: $1.43B, Cash basis: cash and short-term investments
  • 2025-09-30 — Amount: $1.68B, Cash basis: cash and short-term investments
  • 2025-06-30 — Amount: $1.86B, Cash basis: cash and short-term investments
  • 2025-03-31 — Amount: $1.20B, Cash basis: cash and short-term investments
  • 2024-12-31 — Amount: $1.43B, Cash basis: cash and short-term investments
  • 2024-09-30 — Amount: $1.47B, Cash basis: cash and short-term investments
2026-06-30FMPFinancial Modeling Prep (FMP), from the company's quarterly balance sheets
Cash decline over the reported window
To: 2026-06-30; From: 2024-09-30; Periods: 7; Cash basis: cash and short-term investments; Closing balance: $1.16B; Decline: $307.60M; Opening balance: $1.47B; Average change per period: $43.90M

Change in cash, cash equivalents and short-term investments between the 2024-09-30 and 2026-06-30 balance sheets.; This is a balance change, not operating burn: financing and investing move it too.; Averaged over 7 reporting periods of unequal length.

2026-06-30COMPUTEDComputed from reported balances
Cash runway cross-check (ours)
Years: 1.4; Method: cash and short-term investments of $1160.3M at 2026-06-30 divided by the annualized rate at which operations and capital spending used cash ($853.1M per year); Reaches: 2027-11; Cash basis: cash and short-term investments; Cash: $1.16B; Annualized cash use: $853.10M

Rate taken from operating cash flow less capital expenditure over the 8 most recent reported quarters, annualized.; Measured from operations, not from the change in the cash balance — a company that raised money during the window would otherwise appear to be burning less than it is.; Assumes that rate continues unchanged: it ignores announced cost reductions, financing already arranged and any change in spending.; Assumes the reported cash and short-term investments are realizable for funding operations; restrictions and timing of access are not established by these provider fields. Long-term investments are excluded.; It is a cross-check, not a forecast, and the company's own statement about its runway outranks it.

2026-06-30COMPUTEDComputed from reported cash flow; assumptions stated
Trailing twelve-month ratio set
Quick ratio: 3.4; Current ratio: 3.72; Debt to equity: 0.77; Net margin: -76.9%; Gross margin: 83.3%; Operating margin: -71.9%; Return on assets: -41.6%; Return on equity: -111.3%

Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. A ratio our provider could not compute is absent rather than shown as zero.

2026-09-12FMPFinancial Modeling Prep (FMP) key-metrics-ttm + ratios-ttm
Cash against market value
As of: 2026-06-30; Cash basis: cash and short-term investments; Net cash: $580.40M; Total debt: $579.90M; Cash and investments: $1.16B

Price-based multiples captured at research time are not repeated here; the page shows each once, from current figures with their own dates. Cash is the latest reported cash and short-term investment balance; long-term investments are excluded. Market capitalization is the latest provider value.; The reported balance does not establish unrestricted availability or liquidation value.; The two are measured on different dates — the balance sheet is a quarter-end, the market cap is a recent close.; Debt is total debt as reported, including operating lease liabilities where the filer includes them.

2026-06-30COMPUTEDComputed from the balance sheet and the latest market capitalization
Analyst revenue and earnings estimates (average)
Captured record · 4 entries
  • FY2027 — EPS average: $0.91 per share, Revenue average: $2.89B, Revenue low: $2.53B, Revenue high: $3.25B, Analysts (revenue): 15
  • FY2028 — EPS average: $3.64 per share, Revenue average: $3.89B, Revenue low: $3.28B, Revenue high: $4.78B, Analysts (revenue): 19
  • FY2029 — EPS average: $7.29 per share, Revenue average: $5.07B, Revenue low: $4.51B, Revenue high: $5.73B, Analysts (revenue): 9
  • FY2030 — EPS average: $10.83 per share, Revenue average: $6.38B, Revenue low: $5.68B, Revenue high: $7.21B, Analysts (revenue): 15
2026-09-12FMPFinancial Modeling Prep (FMP) analyst estimates
Next earnings report
Date: 2026-10-29; EPS estimate: -$0.37 per share; Revenue estimate: $501.23M

The date is our provider's estimate until the company confirms it.

2026-09-12FMPFinancial Modeling Prep (FMP) earnings calendar
Data Sources & Methodology
Figures come from Financial Modeling Prep (FMP). If FMP has no figure for a ticker, a price or fundamental may come from a Yahoo Finance fallback, or a price from an Alpaca fallback. SEC EDGAR is used only for filing links and company identity details (legal name, address), never for figures. AI analysis by Stock Expert AI proprietary algorithms. Technical indicators via industry-standard calculations. Last updated: .
Data Provenance
Sources: Financial Modeling Prep (FMP) — Primary · Yahoo Finance — Fallback · Alpaca — Tertiary
Last fetched:
Cache TTL: Quote 5min · Profile 7d · Financials 7d · Insider 48h
How we use AI: Numbers are pulled directly from FMP & Yahoo Finance — our AI writes the analysis, it never edits the figures.
Data provided as-is for educational purposes. Not financial advice. Methodology

Data provided for informational purposes only.