Insmed Raises Brinsupri and Arikayce Sales Forecasts as Third-Quarter Revenue Hits $524 Million

Insmed raised the low end of its 2026 sales forecasts for both of its marketed drugs on Thursday after third-quarter revenue nearly quadrupled to $524.4 million, driven by the U.S. launch of its bronchiectasis treatment Brinsupri, according to its earnings release filed with an 8-K.

Total revenue rose 268% from $142.3 million a year earlier. Brinsupri brought in $400.1 million, up 29% from the second quarter, while Arikayce, now in its ninth year on the market, grew 9% to $124.4 million.

"BRINSUPRI's U.S. launch continues to exceed expectations," Chair and CEO Will Lewis said in the release.

Guidance floor moves up

Insmed now expects 2026 Brinsupri revenue of $1.35 billion to $1.4 billion, up from a previous range of $1.25 billion to $1.4 billion. It raised its Arikayce forecast to $460 million to $470 million from $450 million to $470 million.

The company reiterated that it expects peak annual revenue of more than $7 billion for Brinsupri, more than $6 billion for its pipeline drug TPIP and more than $1 billion for Arikayce.

Loss narrows as spending rises

Insmed's net loss shrank to $100.3 million, or $0.46 a share, from $370.0 million, or $1.75 a share, a year earlier.

Spending climbed alongside the launch. Research and development expenses rose to $270.0 million from $186.4 million, mainly on TPIP manufacturing and clinical work and higher headcount. Selling, general and administrative expenses increased to $253.0 million from $186.4 million, driven by Brinsupri commercial activities.

Cost of product revenues as a share of sales fell because Brinsupri has lower manufacturing costs than Arikayce, the company said. Insmed ended September with about $1.1 billion in cash, cash equivalents and marketable securities.

Where the sales came from

Nearly all Brinsupri sales came from the U.S., at $398.1 million, with $2.0 million internationally. Arikayce growth was led by international markets, where revenue rose 21% to $48.9 million; U.S. Arikayce sales rose 2% to $75.5 million.

In October, Insmed launched Brinsupri tablets in Japan after the country's health ministry approved them in August for non-cystic fibrosis bronchiectasis in adults and patients 12 and older.

Regulatory and pipeline markers

The FDA accepted Insmed's supplemental application for Arikayce in Mycobacterium avium complex lung disease as part of a combination regimen, granting Priority Review with a target action date of Jan. 28, 2027.

TPIP is now in three Phase 3 studies, in PH-ILD, pulmonary arterial hypertension and progressive pulmonary fibrosis, with a fourth in idiopathic pulmonary fibrosis expected to start in the first half of 2027. Insmed also added former Sanofi CEO Paul Hudson and Verily Health CFO Utpal Koppikar to its board in October.

By the numbers

• $524.4 million: third-quarter total revenue, up 268%
• $400.1 million: Brinsupri revenue, up 29% from the second quarter
• $124.4 million: Arikayce revenue, up 9%
• $0.46: net loss per share, versus $1.75 a year ago
• $1.35 billion to $1.4 billion: raised 2026 Brinsupri revenue guidance

Sources

1. Insmed Form 8-K with third-quarter 2026 earnings release (Exhibit 99.1), filed Oct. 29, 2026 (accession 0001140361-26-041097)

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