Insmed has announced that it raised ~$25.6 million in net proceeds through the sale of additional shares after a public offering earlier this year netted approximately $235.5 million. The underwriters of that offering had a 30-day option to purchase up to 1,042,307 additional shares of common stock from the company and up to 400,000 shares of common stock from CEO William Lewis.
The company said that it would use the proceeds for continued commercialization of Arikayce amikacin liposome inhalation suspension (ALIS), which was approved by the FDA in September 2018 for the treatment of nontuberculous mycobacterial (NTM) lung disease caused by Mycobacterium avium complex (MAC) in a limited population of patients. The funds could also be used for other purposes, including additional clinical trials of Arikayce and further development of INS1009 inhaled treprostinil for the treatment of pulmonary arterial hypertension (PAH).
Read the Insmed press release.
