Insmed Incorporated reported its fourth‑quarter and full‑year 2025 financial results, posting total product revenue of $606.4 million, a 67 % increase from $363.7 million in 2024. The company’s flagship therapy, ARIKAYCE, generated $433.8 million, while the newly launched BRINSUPRI contributed $172.7 million.
Earnings per share for the quarter fell to $‑1.54, missing the consensus estimate of $‑1.17. The miss was driven by a 42 % year‑over‑year rise in research and development expenses to $254.9 million and a 49 % increase in selling, general and administrative costs to $212.5 million, reflecting intensified investment in the BRINSUPRI launch and pipeline development.
ARIKAYCE continued to expand its commercial footprint, with sales growth accelerated by strong demand in Europe and Japan, while BRINSUPRI’s launch in the United States delivered a robust $172.7 million in revenue, underscoring the product’s rapid market penetration. "Our U.S. commercial launch of BRINSUPRI continues to exceed our expectations, and we are proud to provide this medicine to patients who previously had no approved treatment for their disease," said CEO Will Lewis.
Management reiterated its confidence in the dual‑product platform, stating, "Today, we are pleased to announce revenue guidance for BRINSUPRI of at least $1 billion in 2026," and "we anticipate total company revenue in 2026 to be more than double the revenue we produced in 2025." The company also reaffirmed a 2026 revenue range of $450 million to $470 million for ARIKAYCE.
Investors responded favorably to the results, citing the strong BRINSUPRI launch and the optimistic 2026 guidance as key drivers of confidence in the company’s growth trajectory.
The company reported approximately $1.4 billion in cash, cash equivalents, and marketable securities, providing a solid financial foundation to support ongoing commercial expansion and pipeline investment.
The content on EveryTicker is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.