Insmed Inc. reported third‑quarter 2025 product revenue of $142.3 million, up 22% from $93.4 million in the same period last year. ARIKAYCE sales totaled $114.3 million, while BRINSUPRI generated $28.1 million, marking the first commercial revenue for the new drug.
The company posted a net loss of $370 million for the quarter, translating to a net loss per share of $1.75. Operating expenses rose to $508 million, driven by $186.4 million in research and development and $186.4 million in selling, general and administrative costs, reflecting investments in the BRINSUPRI launch and expansion of its commercial footprint.
Insmed raised its 2025 ARIKAYCE revenue guidance to $420 million–$430 million, reflecting continued double‑digit growth expectations. The company also confirmed that BRINSUPRI will be available in the U.S. in the third quarter of 2025, positioning the drug for a full launch in the coming months.
Compared with Q3 2024, product revenue increased by $48.9 million, while the net loss widened from $220.5 million to $370 million, and the net loss per share grew from $1.27 to $1.75. The increase in operating expenses is largely attributable to higher SG&A costs from professional fees, compensation, and benefits associated with headcount expansion for commercial readiness, and to R&D costs related to clinical development and manufacturing.
Insmed’s cash position stood at approximately $1.7 billion as of September 30, 2025, providing a strong financial foundation to support ongoing R&D and commercialization initiatives.
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