Insmed Incorporated Terminates Sales Agreement with Leerink Partners LLC

Insmed Incorporated (NASDAQ:INSM), a Virginia-based biopharmaceutical company, announced in a recent SEC filing that it has terminated a Sales Agreement entered into with Leerink Partners LLC on February 22, 2024.

The Sales Agreement allowed Insmed to offer and sell its common stock through Leerink, with an aggregate offering price of up to $500,000,000 during the term of the Agreement. However, as of November 18, 2024, the Company has decided to terminate this Agreement, with immediate effect.

Since the end of September 2024, no shares of common stock have been issued or sold under the Agreement. Importantly, Insmed confirmed that there are no termination penalties associated with the discontinuation of the Agreement.

A copy of the Agreement was initially filed as Exhibit 10.1 to the Company’s Current Report on Form 8-K submitted to the SEC on February 22, 2024. It is worth noting that the foregoing summary of the Agreement does not encompass all details, and interested parties are encouraged to refer to the full text of the Agreement contained in the prior Form 8-K filing.

The termination of this Sales Agreement marks a strategic decision by Insmed Incorporated as it evaluates its financial and capital-raising strategies moving forward.

As per the requirements of the Securities Exchange Act of 1934, this report has been duly signed by Michael A. Smith, the Chief Legal Officer and Corporate Secretary on behalf of Insmed Incorporated.

This announcement signifies an important development for Insmed and reflects the company’s ongoing efforts to optimize its financial operations and partnerships in the biopharmaceutical industry.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Insmed’s 8K filing here.

About Insmed

Insmed Incorporated is a global biopharmaceutical company on a mission to transform the lives of patients with serious and rare diseases. Insmed’s first commercial product is ARIKAYCE® (amikacin liposome inhalation suspension), which is approved in the United States for the treatment of Mycobacterium avium complex (MAC) lung disease as part of a combination antibacterial drug regimen for adult patients with limited or no alternative treatment options.