Insmed Incorporated · NASDAQ:INSM
Insmed — J.P. Morgan Healthcare Conference 2026
24 slides from Insmed's conference presentation, Jan 9, 2026
Slide 1: January 12, 2026 J.P. Morgan Healthcare Conference Presentation
January 12, 2026 J.P. Morgan Healthcare Conference Presentation
Slide 2: Forward Looking Statements
Forward Looking Statements The forward-looking statements in this presentation are based upon the Company’s current expectations and beliefs, and involve known and unknown risks, uncertainties and other factors, which may cause the Company’s actual results, performance and achievements and the timin
Slide 3: Patient Minute
Patient Minute
Slide 4: Three Therapeutic Areas, One Goal: Develop First- and Best-in-Class Therapies
Three Therapeutic Areas, One Goal: Develop First- and Best-in-Class* Therapies TPIP: Treprostinil Palmitil Inhalation Powder | PAH: pulmonary arterial hypertension | PH-ILD: pulmonary hypertension due to interstitial lung disease | PPF: Progressive pulmonary fibrosis | IPF: Idiopathic pulmonary fibr
Slide 5: Next 18+ Months Poised to Deliver Multiple Commercial and Clinical Catalysts
Next 18+ Months Poised to Deliver Multiple Commercial and Clinical Catalysts * Pending regulatory approval in the United Kingdom (UK) and Japan | ** Pending regulatory approval | Initiation indicates that trial sites are open and ready to screen participants for enrollment | TPIP: Treprostinil Palmi
Slide 6: Potential Value Drivers
Potential Value Drivers BRINSUPRI launch execution ARIKAYCE: ENCORE readout & label expansion* CEDAR readout TPIP: Phase 2 PAH OLE data update INS1148: Phase 2 ILD & Asthma trial initiations Multiple Phase 3 trial initiations ~1-2 INDs filed per year Continued R&D and BD activity Potential Future Va
Slide 7: Respiratory Therapeutic Area
Respiratory T H E R A P E U T I C A R E A
Slide 8: BRINSUPRI Demonstrates Continued Strength in First Full-Quarter of Revenue
BRINSUPRI Demonstrates Continued Strength in First Full-Quarter of Revenue Preliminary Unaudited U.S. Net Revenues1 ~$144.6M Q4 2025 FY 2025 ~$172.7M New Patient Starts Cumulative Prescribers2 ~4,000 up from ~1,700 prescribers as of 9/30/2025 as of 12/31/2025 Q3:25 ~2,550 (Partial Quarter) ~9,000 Q4
Slide 9: BRINSUPRI Results Are Promising but Do Not Reflect Final Contracting and Access Dynamics
BRINSUPRI Results Are Promising but Do Not Reflect Final Contracting and Access Dynamics NCFB: non-cystic fibrosis bronchiectasis | 1 Includes approvals by both Medicare and commercial payors | Q: Quarter Access continues to be broad as only approved therapy for NCFB Vast majority of prescriptions h
Slide 10: ARIKAYCE Demonstrates Continued Strength
ARIKAYCE Demonstrates Continued Strength 1 Growth is vs. same prior year period; These preliminary unaudited results are subject to adjustment. The Company will report its final and complete fourth-quarter and full-year 2025 financial results in February 2026. The actual results could be materially
Slide 11: ARIKAYCE ENCORE and label expansion
* If expanded label for ARIKAYCE is approved | 1 ARISE was a Phase 3 designed to help support the validation of a PRO tool to be used in ENCORE, the ongoing Phase 3b registrational study evaluating the efficacy and safety of an ARIKAYCE-based regimen in patients with newly diagnosed or recurrent MAC
Slide 12: TPIP: Designing and Conducting an Expansive Registrational Program
PALM-ILD: Initiated Dec:25 Primary Endpoint: Change in baseline 6MWD Key Secondary: 6MWD at trough1, NT-proBNP, PK Phase 3 initiation expected early 2026 Primary Endpoint: Change in baseline 6MWD Expect Phase 2 OLE updates 2H:26 Expect Phase 3 studies to initiate in 2H:26 Meeting and aligning with F
Slide 13: INS1148: Potential First-in-Class Therapy for Respiratory and I&I Diseases
INS1148: Potential First-in-Class Therapy for Respiratory and I&I Diseases * Humanized monoclonal antibody | 1 SCF is the only known ligand for the c-Kit receptor with 2 known splice variants: SCF220 and SCF248. SCF220 is ubiquitously expressed and exerts its biological function as a transmembrane d
Slide 14: Respiratory Therapeutic Area Portfolio & Pipeline
Respiratory Therapeutic Area Portfolio & Pipeline * Brensocatib remains under review by regulatory authorities in the UK and Japan (approved in the U.S. and EU) | ** moderate-to-severe asthma | Bronchiectasis: non-cystic fibrosis bronchiectasis | Initiation indicates that trial sites are open and re
Slide 15: Immunology & Inflammation Therapeutic Area
Immunology & Inflammation T H E R A P E U T I C A R E A
Slide 16: CEDAR: Topline Data Readout Expected Q2:26
AN: inflammatory nodule | H: half | alpha (α): significance level representing the probability of concluding a treatment is effective when it is not Hidradenitis Suppurativa Primary: Percent reduction in abscess and inflammatory nodule (AN) count vs. baseline CEDAR Powering: alpha of 0.10 95% to sho
Slide 17: Immunology & Inflammation Therapeutic Area Pipeline
Immunology & Inflammation Therapeutic Area Pipeline BRINSUPRI® (brensocatib) HS Pre-Clinical Ph1 Ph2 Ph 3 Commercial Other Next-Gen Uricase: Gout IgG Protease INS1148: Other Indications Novel MoA DPP1 Inhibitors INS1033: RA INS1033: IBD Anticipated Catalysts Q2:26 | CEDAR Ph2 readout 2H:26 | IND for
Slide 18: Neuro & Other Rare Therapeutic Area
Neuro & Other Rare T H E R A P E U T I C A R E A
Slide 19: Gene Therapies: Phase Trials Progressing On-Track
Gene Therapies: Phase 1 Trials Progressing On-Track Initiation indicates that trial sites are open and ready to screen participants for enrollment | DMD: Duchenne muscular dystrophy | IDMC: Independent Data Monitoring Committee | ALS: amyotrophic lateral sclerosis | IND: Investigational new drug app
Slide 20: Neuro & Other Rare Therapeutic Area Pipeline and Anticipated Catalysts
Anticipated Catalysts 2026 | IND for Stargardt filing ’26/’27 | ASCEND DMD updates ’26/’27 | ARMOR ALS updates 2027 | Stargardt Ph1 trial updates Neuro & Other Rare Therapeutic Area Pipeline Gene Therapy INS1201: DMD INS1202: ALS* INS1203: Stargardt Pre-Clinical Ph1 Ph2 Ph 3 Commercial Synthetic Res
Slide 21: Financial Strength Allows Us to Pursue Our Ambitious Goals
Financial Strength Allows Us to Pursue Our Ambitious Goals 1 Unaudited revenue results and/or cash, cash equivalents, and marketable securities | 2 year-over-year growth vs. unaudited 2025 revenue results | 3 Revenue guidance for current label; does not include revenues from potential label expansio
Slide 22: Our Culture is Our Greatest Strength
Our Culture is Our Greatest Strength In a recent survey* >90% of employees who responded said they felt: Proud to work at Insmed Inspired by what we do Confident in Insmed’s future Driven to do their best work * The 2025 annual Insmed Pulse Survey included 92% participation across the organization C
Slide 23: 2026: Building On Our Momentum
2026: Building On Our Momentum Next 18+ Months: Potential future value creation driven by commercial execution and clinical progress Three Therapeutic Areas: New structure supports the evolution of our commercial portfolio & clinical pipeline BRINSUPRI: Strong start to U.S. launch; multiple internat
Slide 24: Thank You
Thank You