# Insmed Inc. (INSM)

**Exchange:** NASDAQ  
**Sector:** Healthcare  
**Market cap:** $18.29B  
**Price:** $91.88 (-7.23%)

> Insmed Inc. is a global biopharmaceutical company focused on developing and commercializing therapies for patients with serious and rare diseases. The company concentrates its activities across three key therapeutic areas: respiratory, immunology and inflammation, and neuro and other rare conditions. Insmed’s commercial portfolio is anchored by Arikayce and Brinsupri, both targeting respiratory disorders and serving patients with limited existing treatment options. Beyond its marketed products, the company maintains a diversified clinical pipeline that includes programs such as TPIP, INS1148, brensocatib, and INS1201, which address a range of complex inflammatory and rare disease pathways. Insmed also invests in pre-clinical research using advanced technologies, including gene therapy, AI-driven protein engineering, RNA end-joining, synthetic rescue approaches, and modern protein manufacturing platforms. Headquartered in Bridgewater, New Jersey, and founded in 1988, Insmed plays a specialized role in the healthcare sector by addressing high-need patient populations and supplying therapies primarily to the United States and other key global markets.

## Income Statement (Annual, USD)

| Fiscal Year | Revenue | Gross Profit | Operating Income | Net Income | EPS (dil.) |
| --- | --- | --- | --- | --- | --- |
| 2025 | $606M | $483M | -$1.25B | -$1.28B | — |
| 2024 | $364M | $278M | -$878M | -$914M | — |
| 2023 | $305M | $240M | -$710M | -$750M | — |
| 2022 | $245M | $190M | -$457M | -$482M | — |
| 2021 | $188M | $144M | -$375M | -$435M | — |
| 2020 | $164M | $125M | -$265M | -$294M | — |
| 2019 | $136M | $112M | -$235M | -$254M | — |
| 2018 | $10M | $7M | -$307M | -$324M | — |
| 2017 | — | — | -$189M | -$193M | — |
| 2016 | — | — | -$173M | -$176M | — |
| 2015 | — | — | -$117M | -$118M | — |
| 2013 | $12M | — | -$55M | -$56M | — |
| 2012 | — | — | -$42M | -$41M | — |
| 2011 | $4M | — | -$62M | -$60M | — |
| 2010 | $7M | — | -$8M | -$6M | — |

## Balance Sheet (Annual, USD)

| Fiscal Year | Total Assets | Total Liabilities | Equity | Cash | Long-term Debt |
| --- | --- | --- | --- | --- | --- |
| 2025 | $2.26B | $1.53B | $739M | $510M | $547M |
| 2024 | $2.03B | $1.74B | $285M | $555M | $1.12B |
| 2023 | $1.33B | $1.66B | -$332M | $482M | $1.18B |
| 2022 | $1.66B | $1.57B | $88M | $1.07B | $1.15B |
| 2021 | $1.24B | $833M | $410M | $717M | $800M |
| 2020 | $796M | $520M | $276M | $533M | $450M |
| 2019 | $742M | $481M | $262M | $487M | $450M |
| 2018 | $605M | $396M | $208M | $495M | $450M |
| 2017 | $462M | $101M | $361M | $381M | $55M |
| 2016 | $238M | $83M | $154M | $163M | $55M |
| 2015 | $357M | $45M | $312M | $283M | $25M |
| 2013 | $176M | $33M | $143M | $114M | $20M |
| 2012 | $154M | $33M | $121M | $91M | $20M |
| 2011 | $140M | $6M | $134M | $15M | — |
| 2010 | $196M | $3M | $193M | $11M | — |

## Cash Flow (Annual, USD)

| Fiscal Year | Operating Cash Flow | CapEx | Free Cash Flow |
| --- | --- | --- | --- |
| 2025 | -$935M | $33M | -$968M |
| 2024 | -$684M | $22M | -$706M |
| 2023 | -$536M | $13M | -$550M |
| 2022 | -$400M | $10M | -$410M |
| 2021 | -$363M | $7M | -$371M |
| 2020 | -$219M | $6M | -$226M |
| 2019 | -$251M | $42M | -$293M |
| 2018 | -$258M | $13M | -$271M |
| 2017 | -$160M | $3M | -$163M |
| 2016 | -$147M | $4M | -$151M |
| 2015 | -$101M | $3M | -$104M |
| 2012 | -$31M | $290,000 | -$31M |
| 2011 | -$30M | $979,000 | -$31M |
| 2010 | -$8M | — | -$8M |
| 2009 | -$11M | — | -$11M |

Source: [CompaniesByCap](https://companiesbycap.com/company/INSM)