Key Developments: Insmed Inc (INSM.OQ)

INSM.OQ on NASDAQ Stock Exchange Capital Market

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Latest Key Developments (Source: Significant Developments)

Insmed Inc Announces Closing Of Public Offering And Exercise Of Option To Purchase Additional Shares
Monday, 22 Jul 2013 10:57am EDT 

Insmed Inc announced that the closing of a $71.8 million underwritten public offering of 6,900,000 shares of common stock, including 900,000 shares of common stock which were issued pursuant to the exercise of the underwriters' option to purchase additional shares, at a price of $10.40 per share to the public. The net proceeds to Insmed from this offering were approximately $67.0 million, after deducting underwriting discounts and commissions and other estimated offering expenses payable by Insmed. Leerink Swann LLC acted as sole book-running manager for the offering. Lazard Capital Markets LLC and Canaccord Genuity Inc. acted as co-managers of the offering.  Full Article

Insmed Inc Announces Pricing Of Public Offering Of Common Stock
Wednesday, 17 Jul 2013 08:00am EDT 

Insmed Inc announced that it priced an offering of 6.0 million shares of its common stock at a price of $10.40 per share in a registered underwritten public offering for gross proceeds totaling $62.4 million. All of the shares in the offering are being sold by Insmed. Net proceeds to Insmed from this offering are expected to be approximately $58 million, after deducting underwriting discounts and commissions, and other estimated offering expenses payable by Insmed. The offering is expected to close on or about July 22, 2013. Insmed expects to use the proceeds from the sale of the common stock to fund further clinical development of its lead product candidate, ARIKACE, to fund its efforts to obtain regulatory approvals and commercialize ARIKACE, for general research and development, to invest in third-party manufacturers and the supply chain in order to establish redundancy and commercial supply capability in advance of the launch of ARIKACE in Europe and the United States, to fund working capital and capital expenditures and for other general corporate purposes, which may include the acquisition or in-license of additional compounds, product candidates, technology or businesses. Leerink Swann LLC is acting as sole book-running manager for the offering. Lazard Capital Markets LLC and Canaccord Genuity Inc. are acting as co-managers of the offering.  Full Article

Insmed Inc Announces Proposed Public Offering Of Common Stock
Monday, 15 Jul 2013 04:07pm EDT 

Insmed Inc announced that it is offering $60 million of its common stock in a proposed underwritten public offering. All of the shares in the offering will be sold by Insmed. Insmed expects to use the proceeds from the sale of the common stock to fund further clinical development of its lead product candidate, ARIKACE, to fund its efforts to obtain regulatory approvals and commercialize ARIKACE, for general research and development, to invest in third-party manufacturers and the supply chain in order to establish redundancy and commercial supply capability in advance of the launch of ARIKACE in Europe and the United States, to fund working capital and capital expenditures and for other general corporate purposes, which may include the acquisition or in-license of additional compounds, product candidates, technology or businesses. Leerink Swann LLC is acting as sole book-running manager for the offering. Lazard Capital Markets LLC and Canaccord Genuity Inc. are acting as co-managers of the offering. Insmed expects to grant the underwriters a 30-day option to purchase additional shares of common stock at the offering price, representing 15% of the offering amount, to cover over-allotments, if any. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.  Full Article

Insmed Inc's ARIKACE Meets Primary Endpoint Of Non-Inferiority To TOBI In Phase 3 Clinical Trial In Europe And Canada To Treat Pseudomonas Aeruginosa In Cystic Fibrosis Patients
Monday, 1 Jul 2013 07:00am EDT 

Insmed Inc announced positive developments in both of its clinical development programs for ARIKACE, or liposomal amikacin for inhalation (LAI). The Company reports that its Phase 3 study of once-daily ARIKACE to treat Pseudomonas aeruginosa (Pa) in cystic fibrosis (CF) patients conducted at 70 sites in Europe and Canada met its primary endpoint of non-inferiority compared with twice-daily TOBI (tobramycin inhalation solution) for relative change in forced expiratory volume in one second (FEV1), measured at the end of the third treatment cycle (24 weeks) as compared to baseline. The Company also announces that the U.S. Food and Drug Administration (FDA) designated ARIKACE as a Qualified Infectious Disease Product (QIDP) for the treatment of Non-Tuberculous Mycobacteria (NTM) lung infections. Additionally, the FDA granted Fast Track designation to ARIKACE for the treatment of NTM.  Full Article

Insmed Inc Appoints New CFO-Form 8-K
Wednesday, 7 Nov 2012 12:26pm EST 

Insmed Inc reported in its Form 8-K that it has appointed Will Lewis, to the position of President and Chief Executive Officer (CEO), and Andrew Drechsler, to the position of Chief Financial Officer (CFO).  Full Article

Insmed Inc Announces Pricing Of Approximately $26 Million Direct Public Offering
Friday, 28 Sep 2012 08:23am EDT 

Insmed Inc announced that it has priced a direct public offering of approximately 6.3 million shares of Common Stock to certain affiliates of Ayer Capital, RA Capital and Quaker Partners, at a price of $4.07 per share, which was the consolidated closing bid price on the NASDAQ Capital Market on September 27, 2012, with gross proceeds to Insmed of $25.7 million. The Company also expects to offer for sale up to an additional $2.0 million of shares of Common Stock (based on the recent consolidated closing bid price of the Common Stock on the Nasdaq Capital Market) to an investor, which offering is expected to close on or before October 31, 2012.  Full Article

Insmed Inc Appoints Will Lewis As President And Chief Executive Officer
Tuesday, 11 Sep 2012 08:00am EDT 

Insmed Inc announced the appointment of Will Lewis as President and Chief Executive Officer, effective immediately. Mr. Lewis has also been appointed to the Company's Board of Directors. He succeeds Tim Whitten, who has resigned as President and Chief Executive Officer and as a member of the Company's Board of Directors. In addition, Donald J. Hayden, Jr., who was appointed Executive Chairman in May 2012, will return to his role as Chairman, effective immediately.  Full Article

Insmed Inc Receives Second Composition Of Matter Patent For ARIKACE
Thursday, 2 Aug 2012 08:04am EDT 

Insmed Inc announced that the U.S. Patent and Trademark Office has issued a new composition of matter patent for ARIKACE (liposomal amikacin for inhalation), U.S. Patent No. 8,226,975. The new patent provides exclusivity at least through May 18, 2027.  Full Article

Insmed Inc Announces Planned Departure Of Chief Financial Officer
Monday, 30 Jul 2012 08:00am EDT 

Insmed Inc announced that the Company's Executive Vice President & Chief Financial Officer, Kevin Tully, will be leaving the Company when his current contract expires on December 1, 2012 due to family reasons. Insmed has begun its search to identify candidates to replace Mr. Tully in the CFO role.  Full Article

Insmed Inc Secures $20 Million Loan Agreement With Hercules Technology Growth Capital
Monday, 2 Jul 2012 08:00am EDT 

Insmed Inc announced that it has entered into a loan agreement with Hercules Technology Growth Capital, Inc. Hercules will provide Insmed with access to a term loan of up to $20 million. The first $10 million of the term loan was funded at closing, and is repayable in installments over forty-two months including an initial interest-only period of twelve months after closing. The interest only period is extendable to December 31, 2013, contingent upon completion of certain ARIKACE-related development milestones. Pursuant to the loan agreement, Insmed issued Hercules a warrant to purchase 329,932 shares of Insmed common stock at an exercise price of $2.94 per share. The remaining $10 million of the term loan is available at Insmed's option throughout the availability period, which ends on December 31, 2012.  Full Article

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