Insmed (INSM)
NASDAQ:INSM
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Earnings Data
Report Date
Jul 30, 2026TBA (Confirmed)
Period Ending
2026 (Q2)Consensus EPS Forecast
-0.8Last Year’s EPS
-1.7Same Quarter Last Year
Strong Buy
Based on 18 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple strong commercial and clinical achievements: notably the BRINSUPRI launch with 44% sequential growth, high payer approvals (~90%), strong patient support enrollment (>80%), improved refill/continuation metrics, positive ARIKAYCE Phase IIIb ENCORE results suggesting a substantially larger addressable market, and ongoing TPIP Phase III progress. Financially the company has a solid cash position (~$1.2B) and reiterated guidance, with an expected path to cash flow positivity in 2027. Offsetting items include the completion of the early 'ready-and-waiting' demand tail (requiring organic uptake going forward), international launch uncertainty due to MFN, potential future payer policy tightening, higher near-term operating spend, and some ambiguity around discontinuation drivers. Overall, the positives—particularly the standout launch metrics, clinical wins, and balance sheet strength—appear to outweigh the risks and uncertainties discussed on the call.Company Guidance
BRINSUPRI Strong Sequential Launch Growth
BRINSUPRI delivered 44% sequential growth in Q1 off an already strong prior-quarter baseline; the company noted $350M in combined revenue in the first two full quarters (Q4/2025 + Q1/2026) and reiterated full-year 2026 BRINSUPRI guidance of at least $1.0B.
High Payer Approval and Fast Authorization
Approval rate for patients processed through specialty pharmacies has been nearly 90% since launch, with time to payer approval under one week for the majority of patients—well ahead of internal benchmarks.
Strong Patient Engagement and Adherence Metrics
More than 80% of BRINSUPRI patients enrolled in the inLighten patient support program; refill cadence is nearly every 30 days versus an industry benchmark of ~37 days, and continuation rates are tracking slightly above 6-month statin benchmarks (~70%).
Expanding Prescriber Base
Cumulative prescribers exceeded 5,000 by the end of Q1, representing over 25% of U.S. pulmonologists; >20% of BRINSUPRI prescribers have written prescriptions for at least 5 patients, and many low-volume prescribers are increasing their prescribing depth.
ARIKAYCE Phase IIIb ENCORE Positive Results
ENCORE met its patient-reported respiratory symptom score primary endpoint (statistically significant) and showed earlier, greater and durable culture conversion (>80% conversion with earlier treatment vs ~30% in prior refractory CONVERT study), with better tolerability and lower discontinuation in the earlier-treatment population.
TPIP Late-Stage Progress
Opened first site in the Phase III PALM PAH study; PALM-ILD has randomized patients across 7 countries; 4 Phase III TPIP trials underway/planned (PAH, PH-ILD, PPF, IPF). Open-label extension (PAH) showed ~25% of participants uptitrated above 640 mcg and 7 of 91 reached the 1,280 mcg dose; OLE data expected in Q3 2026.
Solid Financial Position and Path to Cash Flow Positivity
Cash, cash equivalents and marketable securities were approximately $1.2B at quarter-end; underlying cash burn for the quarter was in the recent historical range, and the company expects to achieve sustainable cash flow positivity in 2027 without needing additional capital (assuming no expansion of expense base via BD).
Improved Gross Margin Profile
Cost of product revenues in Q1 was $47.4M, representing 15.5% of revenues—a lower percentage than historical performance attributed to BRINSUPRI's positive contribution to gross margin.
INSM Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
INSM Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
May 07, 2026 | $137.09 | $105.00 | -23.41% |
Feb 19, 2026 | $151.11 | $161.00 | +6.54% |
Oct 30, 2025 | $166.95 | $194.22 | +16.33% |
Aug 07, 2025 | $111.26 | $109.30 | -1.76% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Insmed (INSM) report earnings?
Insmed (INSM) is schdueled to report earning on Jul 30, 2026, TBA (Confirmed).
What is Insmed (INSM) earnings time?
Insmed (INSM) earnings time is at Jul 30, 2026, TBA (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is INSM EPS forecast?
INSM EPS forecast for the fiscal quarter 2026 (Q2) is -0.8.