Insmed Incorporated is offering 8.9 million shares of common stock at $11.25 per share, with expected net proceeds of $94 million to go toward continued development of Arikayce liposomal amikacin for inhalation. The company recently announced that it plans to file an MAA for Arikayce for the treatment of refractory nontuberculous mycobacteria (NTM) lung infections and for P. aeruginosa lung infections in cystic fibrosis patients in 2014 and that it is moving ahead with Phase 3 trial of Arikayce for NTM infections.
In addition to clinical development costs, the funding will also be used for regulatory and commercialization activities, “general corporate purposes,” and “to invest in increased third-party manufacturing capacity in anticipation of possible commercial launch of Arikayce in Europe and the United States,” the company said.
Read the Insmed press release.
