Insmed Reports Q2 2026 Revenues of $425.5M, Raises BRINSUPRI Guidance and Peak Sales Estimates

Insmed reported second-quarter 2026 total company revenues of $425.5 million, with BRINSUPRI (brensocatib) revenues of $309.2 million, reflecting 49% growth over the first quarter of 2026, and ARIKAYCE (amikacin liposome inhalation suspension) revenues of $116.3 million, an 8% increase over the second quarter of 2025. The company raised its 2026 BRINSUPRI revenue guidance to $1.25 billion to $1.40 billion and reiterated its 2026 ARIKAYCE revenue guidance of $450 million to $470 million.

The U.S. BRINSUPRI launch continues to be met with significant enthusiasm and demand from patients and physicians. Insmed continues to anticipate a regulatory decision for brensocatib for the treatment of non-cystic fibrosis bronchiectasis (NCFB) in Japan in the second half of 2026. In November 2025, the European Commission approved BRINSUPRI for NCFB in patients 12 years of age and older with two or more exacerbations in the prior 12 months, and in February 2026, the U.K. Medicines and Healthcare products Regulatory Agency granted marketing authorization for the same population. In June 2026, the European Multi-centre Bronchiectasis Audit and Research Collaboration (EMBARC) announced a collaboration with Insmed to conduct a three-year open-label interventional study evaluating the disease modification potential of 25 mg brensocatib in bronchiectasis.

ARIKAYCE global revenue grew 8% in the second quarter of 2026 compared with the second quarter of 2025. In March 2026, Insmed reported positive topline results from the Phase 3b ENCORE study of ARIKAYCE in patients with Mycobacterium avium complex (MAC) lung disease, which met its primary and all multiplicity-controlled secondary culture conversion endpoints. In July 2026, the company submitted a supplemental new drug application to the U.S. Food and Drug Administration for ARIKAYCE in newly diagnosed patients with MAC lung disease, and it plans to review the Phase 3b ENCORE data with Japan's Pharmaceuticals and Medical Devices Agency in the second half of 2026 to support potential label expansion.

In July 2026, Insmed reported positive 12-month data from the open-label extension study of TPIP (treprostinil palmitil inhalation powder) in patients with pulmonary arterial hypertension (PAH). The company continues to enroll patients in the Phase 3 PALM-ILD trial of TPIP in pulmonary hypertension associated with interstitial lung disease and is actively enrolling in the Phase 3 PALM-PAH trial, initiated in April 2026. Insmed anticipates initiating a Phase 3 study of TPIP in progressive pulmonary fibrosis in the second half of 2026 and a Phase 3 study in idiopathic pulmonary fibrosis in the first half of 2027. In January 2026, the FDA granted orphan drug designation to treprostinil palmitil for PAH.

Insmed continues to advance a Phase 2 development program for INS1148, initially targeting progressive pulmonary fibrosis and idiopathic pulmonary fibrosis, and is exploring other diseases where inhibition of the inflammatory functions of Stem Cell Factor 248 may be beneficial. In July 2026, the FDA cleared the investigational new drug filing for INS1033, Insmed's second dipeptidyl peptidase 1 inhibitor, for patients with rheumatoid arthritis.

The company raised its peak revenue estimate for its three lead programs to more than $14 billion total, consisting of more than $7 billion for BRINSUPRI, more than $6 billion for TPIP, and more than $1 billion for ARIKAYCE. For full-year 2025, Insmed reported total revenues of $606.4 million, including BRINSUPRI revenues of $172.7 million and ARIKAYCE revenues of $433.8 million, and ended 2025 with approximately $1.4 billion in cash, cash equivalents, and marketable securities. In June 2026, Insmed granted inducement awards to 103 new employees under its 2025 Inducement Plan, consisting of 97,091 restricted stock units and options to purchase an aggregate 12,850 shares at an exercise price of $106.91 per share.