Insmed Commences 10 Mln Share Offering

(RTTNews) - Biopharmaceuticals company Insmed Incorp (INSM) on Monday said it has commenced an underwritten public offering of 10 million shares of its common stock, with the entire quantum of shares to be sold by the company.

Insmed plans to use the proceeds from the offering for a range of uses including to fund further clinical development of Arikayce to treat patients with nontuberculous mycobacteria lung disease and for cystic fibrosis patients with Pseudomonas aeruginosa lung infections.

Insmed expects to grant the underwriters a 30-day option to purchase up to an aggregate of 1.5 million additional shares at the offering price.