NASDAQ$INSM

Insmed Incorporated · Q3 2020 earnings

Q3 2020 earnings · · Investor relations

Briefing

Insmed reported Q3 2020 financial results with ARIKAYCE revenue of $43.6 million and provided a business update.

Insmed reported a productive third quarter with significant progress across its programs. ARIKAYCE performance was maintained in the U.S., marketing authorization was granted in the European Union, and an sNDA was approved by the U.S. FDA. Plans to initiate a global Phase 3 study of brensocatib in NCFBE and a Phase 1 study of TPIP were also advanced.

  • ARIKAYCE total revenue was $43.6 million for the third quarter of 2020.
  • Marketing authorization for ARIKAYCE Liposomal 590 mg Nebuliser Dispersion was granted in the European Union.
  • A supplemental New Drug Application (sNDA) was approved by the U.S. FDA for ARIKAYCE, adding culture conversion data beyond 12 months to the label.
  • Three key clinical trials are expected to begin by the end of 2020: Phase 3 ASPEN Study of Brensocatib in Non-Cystic Fibrosis Bronchiectasis (NCFBE), Pivotal ENCORE Study of ARIKAYCE in Front-Line NTM, and ARISE Study to Validate PRO Tool in NTM.

Headline financials

Total Revenue

$43.6M

Previous: $38.9M+12.2%
EPS (adj)

-$0.63

Previous: -$0.68+7.4%
Capital Expenditures

-$5.31M

Previous: -$29.2M+81.8%
Free Cash Flow

-$69M

Previous: -$89.9M+23.3%
Net Income

-$63.7M

Previous: -$60.7M-4.9%
Operating Income

-$56.2M

Previous: -$56.5M+0.5%
Gross Profit

$33M

Previous: $32.4M+1.8%
Cash & Equivalents

$589M

Previous: $536M+9.9%
Total Assets

$841M

Previous: $763M+10.2%
Stock-Based Comp

$8.91M

No prior period

Revenue & EPS history

Insmed · Revenue · Quarterly

$43.6M

Q3 2020+12.2%vs Q3 2019
Beat estimate in 8 of 15 quarters(53%)
ActualEstimate

Revenue by segment

Insmed · $73.3M total across 2 segments · Q2 2023

  • ARIKAYCE U.S.
    $57.7M
  • ARIKAYCE International
    $15.6M

Forward guidance

Insmed anticipates continuing to invest in key activities in 2020.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2020

Historical avgQ3 2020

-1.2%

Avg return

Earnings day

-0.2%

Avg return

5 days after

+1.8%

Avg return

30 days after

35%

23 / 65 earnings

Positive

+27.5%

Q2 2022

Best reaction

-23.3%

Q1 2026

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-23.3%-15.4%-31.3%
Q4 2025+6.3%+5.0%-10.0%
Q3 2025+16.3%+9.5%+24.5%
Q1 2025-4.0%-3.8%+7.8%
Q4 2024-0.3%-7.6%-4.7%
Q3 2024-2.8%-1.4%+6.9%
Q2 2024+4.2%+7.6%+0.1%
Q1 2024-0.1%-2.1%+118.7%
Q4 2023-3.4%+3.5%-6.4%
Q3 2023-6.2%-1.5%-5.6%
Q2 2023+1.0%+1.3%+4.0%
Q1 2023-2.0%-4.4%-1.3%
Q4 2022-3.9%-2.4%-21.2%
Q3 2022-1.1%-1.2%+4.0%
Q2 2022+27.5%+26.6%+12.8%
Q1 2022-9.9%-19.6%-14.5%
Q4 2021-5.2%-6.5%+0.9%
Q3 2021+14.2%+21.3%+9.6%
Q2 2021+3.4%-2.3%+15.1%
Q1 2021+6.7%-11.7%-17.0%
Q4 2020-10.6%-3.9%-13.4%
Q3 2020-6.4%-6.8%+13.1%
Q2 2020+14.8%+7.9%+2.5%
Q1 2020+6.5%+13.4%+15.4%
Q4 2019-11.8%-16.6%-38.0%
Q3 2019+10.4%+16.6%+36.9%
Q2 2019-20.7%-22.5%-25.1%
Q1 2019-11.7%-11.5%-27.8%
Q4 2018+14.3%+17.0%+10.3%
Q3 2018-4.2%+7.2%+15.0%
Q2 2018+5.6%-1.6%-19.5%
Q1 2018+3.9%+2.0%+13.9%
Q4 2017+8.1%-0.8%-11.1%
Q3 2017+10.3%+10.8%+13.9%
Q2 2017-8.6%-17.2%-20.7%
Q1 2017-3.2%-7.4%-15.6%
Q4 2016-1.1%+9.5%+8.7%
Q3 2016-6.7%+0.8%+4.7%
Q2 2016-0.2%+0.3%+13.4%
Q1 2016+0.4%
Q4 2015-2.3%
Q3 2015-20.0%
Q2 2015-2.4%
Q1 2015+5.6%
Q4 2014+3.4%
Q3 2014-0.4%
Q2 2014-9.3%
Q1 2014+5.2%
Q4 2013-7.8%
Q3 2013-1.8%
Q2 2013-2.8%
Q1 2013-5.0%
Q4 2012+5.5%
Q3 2012+4.8%
Q2 2012-6.8%
Q1 2012-19.5%
Q4 2009-0.3%
Q4 2011-0.3%
Q3 2011-3.7%
Q2 2011-4.7%
Q4 2010-4.7%
Q1 2011-6.4%
Q3 2010+4.1%
Q2 2010-1.9%
Q1 2010-12.7%

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