INSM at a glance
Insmed Incorporated (INSM, SEC CIK 1104506) filed its latest 10-K annual report on February 19, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on October 5, 2026 and Form 4 insider filings as recently as September 11, 2026. SignalX summarizes each filing with AI and tracks the company's insider trades and institutional holders.
- For the fiscal year ended December 31, 2025 (FY2025), Insmed Incorporated (INSM) reported revenue of $606.4 million (up 66.7% from FY2024) and a net loss of $1.3 billion. Diluted EPS was -$6.42.
- As of June 30, 2026, 35 institutional investment managers tracked by SignalX reported holding Insmed Incorporated (INSM) shares worth $10.9 billion in 13F-HR filings.
- The most recent insider open-market sale reported on Form 4 was by Brennan David R on September 9, 2026 of 25,000 shares at $124.00 per share.
- In the last 90 days, INSM insiders reported 0 open-market purchases ($0) and 10 open-market sales ($41.6M) on Form 4, a net sale of $41.6M.
Source: SEC EDGAR (XBRL financial data, 13F-HR and Form 4 filings).
- Revenue · FY2025
- $606.4M
- +66.7% vs prior year
- Insiders · 90 days
- 0 buys · 10 sells
- Net −$41.6M
- 13F holders
- 35 funds
- $10.9B · −2 vs prior quarter
- Latest 8-K
- Aug 6, 2026
- Item 2.02
AI 10-K Annual Report Analysis
Latest 10-K, fiscal year ended Dec 31, 2025
Risk Factors
- FDA accelerated approval of ARIKAYCE contingent on successful ENCORE confirmatory trial with 425 patients enrolled as of Q4 2024
- Exposure to inflation affecting suppliers, service providers, and partners across US, Europe, Japan, and global operations
- Dependence on Lamira device regulatory approval in each market for ARIKAYCE commercialization limits product sales capability
- Competitive market risks amid reliance on market acceptance against alternatives amid safety concerns like US boxed warning on ARIKAYCE
- Outstanding term loan and royalty financing arrangement may limit financial flexibility and increase risk of shareholder dilution
Management Discussion & Analysis
- Respiratory therapeutic area is the only commercial segment with two approved products: ARIKAYCE and BRINSUPRI
- No cash flow, buybacks, dividends, or capex details mentioned
- Forward-looking: portfolio focused on Respiratory, Inflammation & Immunology, Neuro & Rare diseases, with ongoing clinical and pre-clinical programs spanning advanced modalities
Business Overview
- Core business model: Development and commercialization of specialty pharmaceuticals focusing on respiratory diseases, including key marketed products ARIKAYCE and BRINSUPRI
- New product emphasis: BRINSUPRI launch in August 2025 generated $172.7M US sales in 2025, contributing to 66.7% overall revenue growth to $606.4M
- Strategic shift: Accelerated commercial readiness and significant investment in BRINSUPRI’s US launch, plus acquisition of INS1148 for $40M in 2025, expanding pipeline
- Notable quantitative metrics: R&D expenses rose 28.9% to $771.1M, SG&A increased 52.1% to $701.2M, driven by headcount growth and commercial activities for BRINSUPRI
- Unique fact: Completed two large equity offerings in 2024 and 2025, raising net proceeds of $713.2M and $823.3M respectively, bolstering cash reserves to support operations
AI summary of the INSM 10-K filed . Generated from the filing text; verify against the original.View on SEC EDGARHow to read a 10-K
AI 10-Q Quarterly Report Analysis
Latest 10-Q, quarter ended Jun 30, 2026
Management Discussion & Analysis
- Product revenue $425.5M, up $318.1M or 296% YoY from $107.4M
- BRINSUPRI revenue $309.2M versus $0, outperforming ARIKAYCE revenue of $116.3M
- Product cost margin 84.2% versus 73.9% YoY, with costs 15.8% versus 26.1% of revenue
- R&D expenses $210.0M, up $32.8M or 19% YoY, primarily driven by TPIP development
- Cash and securities expected to fund operations at least 12 months; near-term focus on BRINSUPRI commercialization and ARIKAYCE label expansion
Risk Factors
- No material risk-factor changes identified; provided text contains only a general risk disclaimer
- Trading-plan disclosure: 101,100 shares under an officer’s Rule 10b5-1 plan
- Sell-to-cover arrangement: pre-arranged share sales for RSU tax withholding
- Regulatory compliance exposure: Rule 10b5-1 and Regulation S-K disclosure requirements
AI summary of the INSM 10-Q filed . Generated from the filing text; verify against the original.View on SEC EDGAR10-K vs 10-Q vs 8-K
AI 8-K Current Report Analysis
The most recent material events, by 8-K item
Item 2.02: Results of Operations and Financial Condition
- Item 2.02 incorporates information by reference rather than presenting financial results in the provided text
- Investor-relevant earnings details require review of the referenced exhibits for fiscal year 2026 results
Item EX-99.1: Item EX-99.1
- Q2 2026 revenue $425.5M, up 296% year over year, driven by BRINSUPRI launch revenue of $309.2M
- BRINSUPRI guidance raised to $1.25B-$1.40B from at least $1B, signaling stronger-than-expected launch demand
Item 7.01: Regulation FD Disclosure
- Boilerplate incorporation-by-reference disclaimer, not substantive Regulation FD disclosure
- No investor-actionable operating, financial, or strategic information in the provided text
Item EX-99.1: Item EX-99.1
- TPIP delivered sustained 12-month efficacy improvements, supporting advancement of the once-daily therapy into Phase 3 PALM-PAH
- 6MWD improved 55.7 meters in TPIP Continued and 54.1 meters in Placebo Crossed groups
AI summaries of INSM 8-K current reports filed with the SEC. What 8-K item codes mean
SignalX for INSM
Don't miss the next INSM filing
- Alerts as it files. A push when INSM files an 8-K or an insider trades.
- Fund moves. Which tracked funds opened, added or cut INSM, by share count.
- Ask anything. An AI agent that reads every INSM filing and answers with sources.
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Recent Insider Transactions (Form 4)
Latest reported trades by officers, directors and 10% owners
| Insider | Type | Date | Shares | Price |
|---|---|---|---|---|
| Brennan David R | Sell | Sep 9, 2026 | 25,000 | $124.00 |
| SHAROKY MELVIN MD | Sell | Aug 17, 2026 | 5,000 | $127.53 |
| Adsett Roger | M | Aug 10, 2026 | 76,600 | $17.16 |
| Adsett Roger | M | Aug 10, 2026 | 82,280 | - |
| Adsett Roger | M | Aug 10, 2026 | 82,280 | $13.67 |
| Adsett Roger | M | Aug 10, 2026 | 80,970 | - |
| Adsett Roger | Sell | Aug 10, 2026 | 239,850 | $133.27 |
| Adsett Roger | M | Aug 10, 2026 | 80,970 | $30.46 |
Financial SummaryXBRL
| Metric | FY2023 | FY2024 | FY2025 |
|---|---|---|---|
| Profitability | |||
| Revenue | - | $363.7M | $606.4M |
| Operating Income | -$709.6M | -$878.3M | -$1.2B |
| Net Income | -$749.6M | -$913.8M | -$1.3B |
| Op. Margin | - | -241.5% | -205.6% |
| Net Margin | - | -251.2% | -210.5% |
| Balance Sheet | |||
| Total Assets | $1.3B | $2.0B | $2.3B |
| Equity | - | $285.4M | $739.0M |
| ROE | - | -320.2% | -172.8% |
| Per Share | |||
| EPS | $-5.34 | $-5.57 | $-6.42 |
| Cash Flow | |||
| Operating CF | - | -$683.9M | -$935.0M |
| CapEx | - | $21.9M | $32.6M |
Source: XBRL data in Insmed Incorporated (INSM)'s 10-K filings on SEC EDGAR, in USD. Compare across companies →
13F Fund Holdings: Quarterly Trend
Latest: Q2 2026Aggregate INSM share value held by 13F filers tracked by SignalX, by quarter.
Quarterly totals table
| Quarter | Funds | Total value |
|---|---|---|
| Q2 2026 | 35 | $10.90B |
| Q1 2026 | 37 | $18.45B |
| Q4 2025 | 34 | $18.64B |
| Q3 2025 | 34 | $18.22B |
| Q2 2025 | 32 | $9.06B |
| Q1 2025 | 28 | $4.05B |
| Q4 2024 | 24 | $3.07B |
| Q3 2024 | 20 | $1.52B |
- Ameriprise Financial+3.12M (+102%)
- FMR LLC (Fidelity)+2.98M (+23%)
- Two Sigma Investments+1.01M (+424%)
- Millennium Management+890.2K (+77%)
- State Street Corp+500.5K (+9%)
- JPMorgan Chase & Co−13.72M (-57%)
- Invesco Ltd−6.14M (-94%)
- BlackRock−870.2K (-5%)
- Bank of America Corp−479.2K (-32%)
- Franklin Resources−344.0K (-13%)
Source: 13F-HR filings on SEC EDGAR (aggregated from 244 fund-quarter rows). Reflects only 13F filers tracked by SignalX, not the full institutional ownership universe. How 13F filings work
INSM filing archive
AI analysis pages for each 10-K, 10-Q and 8-K
10-K annual reports
10-Q quarterly reports
Latest 2026 SEC Filings: 10-K, 10-Q, 8-K & Form 4
| Form | Filing date | Period | Analysis | SEC |
|---|---|---|---|---|
| 8-K | Oct 5, 2026 | - | - | - |
| 4 | Sep 11, 2026 | - | - | - |
| 4 | Aug 19, 2026 | - | - | - |
| 4 | Aug 12, 2026 | - | - | - |
| 4 | Aug 7, 2026 | - | - | - |
| 8-K | Aug 6, 2026 | - | Analysis | - |
| 10-Q | Aug 6, 2026 | Jun 30, 2026 | Analysis | |
| 4 | Jul 24, 2026 | - | - | - |
| 8-K | Jul 16, 2026 | - | Analysis | - |
| 4 | Jul 10, 2026 | - | - | - |
| 4 | Jul 8, 2026 | - | - | - |
| 4 | Jun 26, 2026 | - | - | - |
| 4 | Jun 24, 2026 | - | - | - |
| 4 | Jun 24, 2026 | - | - | - |
| 4 | Jun 10, 2026 | - | - | |
| 4 | Jun 5, 2026 | - | - | |
| 4 | Jun 5, 2026 | - | - | |
| 4 | Jun 5, 2026 | - | - | |
| 4 | Jun 5, 2026 | - | - | |
| 4 | Jun 5, 2026 | - | - | |
| 4 | May 22, 2026 | - | - | |
| 4 | May 20, 2026 | - | - | |
| 4 | May 15, 2026 | - | - | |
| 4 | May 15, 2026 | - | - | |
| 4 | May 15, 2026 | - | - |
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INSM SEC filings: frequently asked questions
Are INSM insiders buying or selling?
In the last 90 days, Insmed Incorporated (INSM) officers, directors and 10% owners reported no open-market purchases and 10 open-market sales worth $41.6 million by 5 insiders on Form 4. Many insider sales are pre-planned or for taxes, so purchases usually carry more information.
Which institutions hold INSM stock?
As of June 30, 2026, the largest Insmed Incorporated (INSM) holders among the 13F filers tracked by SignalX were FMR LLC (Fidelity) ($1.7 billion), BlackRock ($1.7 billion), Vanguard Portfolio Management LLC ($1.1 billion), JPMorgan Chase & Co ($1.1 billion), Vanguard Capital Management LLC ($1.0 billion). 13F-HR reports are filed up to 45 days after each quarter ends.
What was INSM's revenue in fiscal year 2025?
For the fiscal year ended December 31, 2025 (FY2025), Insmed Incorporated (INSM) reported revenue of $606.4 million (up 66.7% from FY2024) and a net loss of $1.3 billion. Diluted EPS was -$6.42. The figures come from the XBRL data in the 10-K.
What are the main risks in INSM's latest 10-K?
In the 10-K filed February 19, 2026, Insmed Incorporated (INSM) flagged: FDA accelerated approval of ARIKAYCE contingent on successful ENCORE confirmatory trial with 425 patients enrolled as of Q4 2024. Exposure to inflation affecting suppliers, service providers, and partners across US, Europe, Japan, and global operations. (AI summary of the Risk Factors section.)
What did INSM report in its latest 8-K?
Insmed Incorporated (INSM) filed an 8-K on August 6, 2026 reporting Item 2.02 (Results of Operations and Financial Condition). Item 2.02 incorporates information by reference rather than presenting financial results in the provided text.
What are the latest INSM SEC filings?
Insmed Incorporated (INSM) filed its latest 10-K annual report on February 19, 2026, a 10-Q quarterly report on August 6, 2026, an 8-K current report on October 5, 2026 and a Form 4 insider filing on September 11, 2026.
What is INSM's SEC CIK number?
Insmed Incorporated (INSM)'s SEC Central Index Key (CIK) is 1104506. EDGAR lists every INSM filing under that number.
Ask anything about INSM
The research agent reads INSM's filings, financials, insider trades and 13F holders, then answers with sources.