Insmed revenue jumps 230% on brensocatib growth
Total company revenues reached $306.0 million for the first quarter of 2026
Insmed (INSM), the biopharmaceutical company, reported total revenues of $306.0 million for the first quarter of 2026, a 230% increase compared to the $92.8 million recorded in the first quarter of 2025.
The result followed a period of rapid scaling for the company's product portfolio, though the quarter was marked by a strategic pivot in its development pipeline. The company narrowed its net loss to $163.6 million for the period, an improvement from the $256.6 million net loss reported in the same quarter a year prior.
Growth was driven primarily by BRINSUPRI (brensocatib), which generated $207.9 million in revenues for the first quarter. This represented a 44% increase over the fourth quarter of 2025. ARIKAYCE revenues rose 6% year-over-year to $98.1 million.
Clinical milestones for ARIKAYCE included the Phase 3b ENCORE study in MAC lung disease, which met its primary endpoint for Respiratory Symptom Score and all multiplicity-controlled secondary culture conversion endpoints in March 2026.
In its TPIP pipeline, the company reported sustained improvement at Month 12 in the OLE study. The TPIP Continued group saw a mean 6MWD improvement of +55.7 meters, while the Placebo Crossed group saw an improvement of +54.1 meters. Both groups showed an approximately 60% reduction in NT-proBNP concentration. Additionally, approximately 65% of patients in the study achieved Refined Low Risk status by Month 12.
Safety data through Month 12 for the TPIP OLE study showed treatment-emergent adverse events occurred in 89.0% of patients, with serious events in 18.7% and severe events in 16.5%. Four deaths occurred, none of which the company considered related to TPIP. Based on Phase 2b results from June 2025, Insmed initiated the Phase 3 PALM-PAH study of TPIP in April 2026.
The company discontinued its development program for brensocatib in hidradenitis suppurativa in April 2026 after the Phase 2b CEDAR study failed to meet primary or secondary efficacy endpoints.
Insmed reiterated its full-year 2026 revenue guidance in May 2026, projecting at least $1 billion for BRINSUPRI and between $450 million and $470 million for ARIKAYCE.