Insmed Incorporated (NASDAQ:INSM) saw its shares surge about 8% on Friday morning after reporting strong preliminary revenue figures for 2025, driven by a successful market debut for BRINSUPRI and ARIKAYCE sales that came in ahead of expectations.
The company said unaudited revenue from BRINSUPRI (brensocatib) totalled roughly $144.6 million in its first full quarter of commercial availability, while full-year 2025 sales reached about $172.7 million. ARIKAYCE (amikacin liposome inhalation suspension) exceeded management’s guidance, generating unaudited global revenue of approximately $433.8 million for the year, representing 19% growth year on year.
Taken together, Insmed’s preliminary unaudited revenue for 2025 amounted to $606.4 million, up 67% from 2024 and well above the consensus estimate of $522 million. Looking ahead, the company forecasts global ARIKAYCE revenue of between $450 million and $470 million in 2026.
“2025 was a landmark year for the patients we serve, our company, and our people, during which we demonstrated what’s possible when breakthrough science meets steadfast execution,” said Will Lewis, Chair and Chief Executive Officer of Insmed.
Momentum from the BRINSUPRI launch remained strong, with around 4,000 healthcare professionals having prescribed the therapy by the end of 2025. Approximately 9,000 new patients began treatment during the fourth quarter alone.
Insmed also provided updates on its clinical development pipeline. Topline results from the Phase 3 ENCORE study of ARIKAYCE are now expected in March or April 2026, while data from the Phase 2b CEDAR study evaluating brensocatib in hidradenitis suppurativa are anticipated in the second quarter of 2026.
In addition, the company said it initiated its Phase 3 PALM-ILD study of TPIP in pulmonary hypertension associated with interstitial lung disease during the fourth quarter of 2025, with further Phase 3 trials planned to begin in 2026.