Insmed (INSM) stock

Respiratory medicines , market cap $24B

Respiratory medicines

Worth $24B

Pre-market

$115.76

+1.18%

Close $114.41 +5.19%

As of 8:42 AM ET pre-market, delayed 15+ min · Live for Pro members

Quality Score

Below Average

In its industry

#31of 90

Pharma

Checks firing

3of 14

Trending down

From 52-week high

-46.2%

under its best in a year

INSM's Quality Score rose 2 points on Mon, Nov 9, to 5.

Follow INSM's trial news. Pro members can get an alert when Insmed files news, and see its trials, share raises, and its CEO's filings.

Get an alert when INSM files news on its trialsSee it live, free until tomorrow morning. No account. No card. Then keep going with a free account.

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Next2H 2026“…for the treatment of non-cystic fibrosis bronchiectasis (NCFB) in Japan in the second half of 2026…”Regulatory decision · SEC filing · Aug 6

Cash$1.1B, about 7 quarters at the last year's spendingOn Sep 30

Why is INSM up?

Up 23% from Oct 26 to Nov 6 while the S&P 500 fell 4%.

Insmed rose 23% from Oct 26 to Nov 6. 16 points of it came on Oct 29, the day of its results.

Sources: Price history, Nov 6, 2026; SEC filing, Oct 29, 2026

1 more reason, free with an account →2 more reasons why INSM rose 23% since Oct 26, from its filings, with the other side, the timeline, and its peers, for Pro members.

Why INSM still lags the market over a year

Down 38% over the year to Nov 6 while the S&P 500 rose 11%; up 23% since Oct 26.

4 reasons, from its filings, with the timeline and its peers, for Pro members.

Key facts on INSM

Key facts on INSM
Holding it back	Below its 200-day since September down 39% in a year
Latest filing	10-Q, Oct 29 Filed its quarterly report (10-Q) for the quarter to Sep 30, 2026

1 more reason behind INSM's 5, free with an account →3 more reasons behind INSM's 5, for Pro members.

INSM in the news

Thu Oct 29What Insmed (INSM) Said on Its Q3 Earnings Call Yahoo Finance and 3 more INSM closed +15.1% that day.

Outlet counts from the GDELT Project.

Big story

Leadership

Insmed filed an 8-K reporting a change of CFO

From the company's SEC filing

Get an alert on INSM's next big story →

What's next

Mon Nov 16: Jefferies 17th Annual London Global…Investor conference · date confirmed.

Expected to report Thu Feb 18, before the open

After its last 4 reports it closed +8.0% on average, higher 3 of 4 times.

1 more date ahead: the conference, for Pro members.

Cash$1.1B, about 7 quarters at the last year's spendingOn Sep 30

INSM catalysts

Coming up

7 more coming up and 21 past catalysts since 2018, with sizes and sources, for Pro members.

What's next for INSM, and how long its cash lasts

Next step the company has named

2H 2026“Insmed continues to anticipate a regulatory decision for brensocatib for the treatment of non-cystic fibrosis bronchiectasis (NCFB) in Japan in the second half of 2026.”Regulatory decision · SEC filing · Aug 6

What it means: a regulator’s decision on an application to sell the drug.

Lead program: Brensocatib · Healthy Volunteers · under FDA review
Its trial: Potential CYP3A Induction Effect of Brensocatib on the Pharmacokinetics of Midazolam in Healthy ParticipantsPhase 1 · Not yet recruiting · 26 people · main data estimated Nov 25, 2026 · NCT07859007

7 more trials, 1 with data due this year, 7 more milestones and 43 filings, for Pro members.

Cash runway Sep 30 balance sheet

About 7 quarters

$1.1B in cash and short-term investments, at its spending over the last year

What it means: how long the cash would last at the same pace, before any new money.

For Pro members: the cash used each quarter, and the math.

Dilution on the horizon

No shelf registration or at-the-market program on file in the last three years.

For Pro members: 3 raises and their amounts, and the share count against a year ago.

Insiders

Director David R Brennan sold 25,000 shares on Sep 9. 48 more insider trades this year.

From Form 4: open-market buys and sales only.

Get an alert when William Lewis buys or sells

For Pro members: every trade, and William Lewis’s 50 filings and quotes.

Get an alert when INSM files news on its trialsA free account. No card.

See every upcoming FDA date →

FDA dates in the next 60 days

Decision dates and advisory committee meetings the companies have announced in their filings, soonest first and small companies first.

DateStockDrug

In 13 daysFDA decisionIn 13 days · FDA decisionCAPRCapricor TherapeuticsDeramiocelCAPRCapricor Therapeutics · $500MDeramiocelFDA decision due (PDUFA)
In 13 daysFDA decisionIn 13 days · FDA decisionSVRASavaraMolgramostimSVRASavara · $900MMolgramostimFDA decision due (PDUFA)
In 43 daysFDA decisionIn 43 days · FDA decisionMLYSMineralys TherapeuticsLorundrostatMLYSMineralys Therapeutics · $1.3BLorundrostatFDA decision due (PDUFA)

14 more FDA dates and 103 trial data dates in the next 60 days, each on the FDA calendar. Pro members see whether each company's cash lasts past its date, with an optional alert before it. See all 151 dates, ranked →

Why INSM scores 5

Below Averagefor quality, not price, 3 of 14 chart checks firingWhat the Quality Score means

Well above its recent run. INSM scores 5 today, against a median of 1 over its last 20 recorded sessions.

+3Chart checks 3 of 14 firing right now, one point each
+3Growth sales up 240% on the year, gross margin up 7.9 pointsSales and margins against a year earlier: up to +3 for fast growth and widening margins, down to -2 when both shrink.

Long-term trend subtracts
Size adds
Cash flow subtracts-1 when free cash flow over the last four quarters is negative.
News adds

No effect today: Run-up, Profit, Dilution, Volatility, Persistence, and Insider trades.

What every line is worth, and the reason behind it, on INSM and every other stock.Get in free →

Price, score, chart checks, and the industry rank are from a snapshot taken at 8:42 AM ET, at least 15 minutes behind. How we rank stocks.

Tested. Our top-scored stocks returned 2.2x the average stock over the next month. Reconstructed after the fact; recorded live since Sep 9, 2026. How we tested it

Alert me when INSM's Quality Score turns up

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How INSM ranks in Pharma

INSM is #31 of 90 by Quality Score.

How INSM ranks in Pharma
Rank	Stock	Checks	Quality Score
1	ABBVAbbVie	8/14	24
2	LLYEli Lilly	5/14	18
3	CRONCronos	5/14	18
	HROWHarrow		Open for its score
	IDXXIdexx Laboratories		Open for its score
	INVAInnoviva		Open for its score
	IRDOpus Genetics		Open for its score
31	INSMInsmed	3/14	5

Free cash flow over four quarters: INSM -$628M, PTGX $131M, ALKS $222M.

When does INSM report earnings, and what happens after?

Expected to report Thu Feb 18, before the open (in 101 days).

What an earnings report is: every 3 months, a company tells everyone how much it sold and earned. We read the figures, the outlook, and how the stock moved after.

What INSM reported on Oct 29, 2026

The quarter

The figures are not read from the release yet.

The filing on EDGAR

Where the sales came from

INSM's results filing gives no sales by line in a table we read.

The outlook

The outlook the company gave, by period
Measure	Figure
Full year 2026
BRINSUPRI revenue	$1.35B to $1.40Braised

Figures as filed (SEC filing, Oct 29)

2 more outlook lines, for Pro members.

The numbers

Market value: $24B; today
Sales: $1.5B; up 240% on the year
Free cash flow: -$628M; last 12 months

Sales grew 30% a year over 5 years, fiscal 2020 to 2025.

Its share count grew 15% a year over 5 years.

3 more figures, for Pro members.

No analyst estimates on Breakaway: every figure here is filed.

The whole report on INSM: every line of its sales, every outlook beside the one it replaced, and the company's words, for Pro members.

Close after the report, last 3

-23.4%+33.9%+15.1%

May 7Aug 6Oct 29

Reported	When	Gap	Reaction	5 days
Oct 29, 2026Before open	Before open	+13.4%	+15.1%	+13.4%
Aug 6, 2026Before open	Before open	+29.5%	+33.9%	+33.6%
May 7, 2026Before open	Before open	-14.7%	-23.4%	-13.9%

INSM closed higher after 3 of its last 4 reports.

All 4 reports, and INSM's Quality Score going into each

INSM sales and profit by year

Sales and profit by year

Sales grew every year from 2018 to 2025, to $606M. It lost money in each of the eight years.

INSM has 3 of 14 chart checks firing

Trend1 of 5 shown

MA FAN 21 EMA W.EMA HH/HL 52W HI

Volume1 of 3 shown

VOL VDU U/D VOL

Tight range1 of 3 shown

ATR SQZ SQUEEZE NR7

Buying1 of 3 shown

OBV+CLOSE HI SPRING

The other 10 checks on INSM, and all 14 on every stock.Get in free →

INSM RSI on Nov 6: 60.9, above its 50-day, below its 200-day

Not scored

RSI 60.9, MACD above signal, above its 50-day, below its 200-day. Not scored.13 readings

The deep dive on INSM

What it does and how it makes money7 findingsAn operating loss of $1.25B in fiscal 2025, on $606M of sales.Annual report, filed Feb 19, 2026"European Patent Nos. 1962805 and 3067046, both of which expire approximately five months after the ‘759 patent (December 5, 2026 vs. July 19, 2026), also include claims related to ARIKAYCE and its use in treating NTM lung disease." (10-K for fiscal 2025)SEC filing · Feb 19, 2026
Where it stands4 findingsFor Pro members4 findings on where INSM stands: its cash, debt, and share count, for Pro members
What changed in its filings3 findingsA new heading in its "Risk Factors" this year: "Generic competition following the expiration or loss of exclusivity may significantly reduce our revenues." (10-K for fiscal 2025; not in fiscal 2024's)SEC filing · Feb 19, 2026, against the one of Feb 20, 2025One customer made up 31% of its revenue in fiscal 2025, up from 30% in fiscal 2024; another made up 26%, down from 34% in fiscal 2024.SEC filing · Feb 19, 2026
Who holds and trades it4 findingsFor Pro members4 findings on who holds and trades INSM, for Pro members
Against its closest peers3 peersFree cash flow over four quarters: INSM -$628M, PTGX $131M, ALKS $222M.

14 more findings on INSM, each with its source, for Pro members.

INSM share count over time

3% more shares than a year earlier.

Weighted shares, quarter to Sep 30, 2026, both from one filing

Shares of INSM outstanding, as filed
Shares outstanding	As of
219.4M	Oct 23, 2026
218.4M	Jul 31, 2026
216.8M	May 1, 2026
215.6M	Feb 13, 2026

Offerings, shelves, and splits of INSM, from its filings
From its filings	Filed
Registered shares for a later sale (S-3ASR)	May 15, 2026
Raised $750M in a sale of shares, about 3% of its market value	Jun 12, 2025
Raised $650M in a sale of shares, about 3% of its market value	May 30, 2024
Set up an at-the-market program for up to $500M of shares, about 2% of its market value	Feb 22, 2024

INSM insider trades

6 insiders sold $40.8M across 11 filings in the last 6 months. No open-⁠market buys on record. The newest:

SellDavid R. Brennan$3.1MDirectorat $124.00 on Sep 9, filed Sep 11

SellDavid R. BrennanDirector$3.1Mat $124.00 on Sep 9, filed Sep 11

All 11 insider filings on INSM from the last six months, for Pro members.

All INSM insider trades

INSM trades by Congress and the executive branch

6 trades disclosed in the last six months. The newest:

BuyDonald Trump$15K to $50KPresident (R)traded Jul 17, disclosed Sep 22(67 days later)

BuyDonald TrumpPresident (R)$15K to $50Ktraded Jul 17, disclosed Sep 22(67 days later)

All 6 trades on INSM disclosed by Congress and the executive branch, for Pro members.Get in free →

See what Congress is buying across the market

INSM's officers and directors

Officers and directors with a Form 4 in the last 12 months.

William LewisChair and CEO · 21 trades
William LewisChair and CEO · 1 trade
Sara BonsteinChief Financial Officer · 5 trades
Sara BonsteinChief Financial Officer · 1 trade
Martina FlammerChief Medical Officer · 17 trades
Michael Alexander SmithChief Legal Officer · 9 trades
Roger AdsettChief Operating Officer · 7 trades
Orlov S. Nicole SchaefferChief People Strategy Officer · 5 trades

11 more officers and directors file at INSM.

See insider trades by person

Which ETFs hold INSM?

In ETFs: INSM is under 0.1% of SCHG and under 0.1% of VTI, the most of the 24 funds Breakaway covers, by each fund's latest filing, Jun 30 to Aug 31, 2026.

About Insmed

Insmed Inc is a biopharmaceutical company. Its commercial portfolio and clinical pipeline are organized around three therapeutic areas: Respiratory, Immunology and Inflammation, and Neuro and Other Rare. The company's two commercial products, Arikayce and Brinsupri, are both part of the Respiratory therapeutic area. The firm's clinical-stage programs are TPIP, INS1148, brensocatib, and INS1201, focusing on different therapeutic areas. Additionally, Insmed's pre-clinical research programs encompass various technologies and modalities, including gene therapy, AI-driven protein engineering, protein manufacturing, RNA end-joining, and synthetic rescue. Geographically, the company generates maximum revenue from the United States from the sale of its commercial products.

1,664 employeesBridgewater, NJinsmed.com

What Insmed says it competes with

“The biotechnology and pharmaceutical industries are highly competitive.”

From its annual report, SEC filing · Feb 19, 2026

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What would turn INSM's score around: 6 things
8 more filings explained, a plain line each
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BreakawaySep 22Donald Trump bought INSM$15K to $50K, disclosed Sep 22

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See INSM's 14 chart checks

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Straight AnswersStraight Answers

As of Nov 9, 2026: INSM's Quality Score is 5 (Below Average), #31 of 90 in Pharma. Insiders sold $40.8M in the last 6 months (Form 4).

What does INSM's Quality Score say?

INSM scores 5 today, which Breakaway calls Below Average. It is #31 of 90 in Pharma by Quality Score, with 3 of 14 chart checks firing. Up 23% from Oct 26 to Nov 6 while the S&P 500 fell 4%. Cash lasts about 7 quarters at its spending (to Sep 30). Breakaway does not say whether to buy any stock: the score does not know your situation, and it is not a recommendation to buy or sell anything. Please do your own research.

What is INSM's Quality Score?

INSM scores 5 today, which Breakaway calls Below Average (0 to 5). That is #31 of 90 in Pharma by Quality Score. The score adds up the chart checks, the trend, the company's filed sales, its profits, the news, insider trades, and Congress trades. The section above lists the lines behind INSM's 5.

Are insiders buying INSM?

6 insiders sold $40.8M across 11 filings in the last 6 months. No open-⁠market buys on record. The newest is David R. Brennan, Director, who sold $3.1M on Sep 9. Every filing, with the scored weight, for Pro members.

Are the prices delayed?

Only on the public pages, which run at least 15 minutes behind. Pro members, and anyone on a guest pass, see real-time prices: the scanner refreshes every 15 seconds, and your watchlist every few seconds, pre-market and after hours included.