$INSM
INSMED Inc Stock $insm

$insm Overview Financials Valuation SEC Filings Company Website

2019 Q4 Form 10-Q Financial Statement

#000110450619000026 Filed on October 30, 2019

Income Statement

Concept	2019 Q4	2019 Q3	2018 Q3
Revenue	$45.71M	$38.89M	$0.00
YoY Change	364.75%
Cost Of Revenue	$8.710M	$6.437M	$0.00
YoY Change	259.47%
Gross Profit	$37.00M	$32.45M	$0.00
YoY Change	399.22%
Gross Profit Margin	80.95%	83.45%
Selling, General & Admin	$50.21M	$53.35M	$44.45M
YoY Change	-6.95%	20.02%	155.31%
% of Gross Profit	135.7%	164.42%
Research & Development	$32.63M	$34.34M	$39.54M
YoY Change	-18.28%	-13.15%	48.22%
% of Gross Profit	88.18%	105.83%
Depreciation & Amortization	$3.540M	$2.250M	$950.0K
YoY Change	62.39%	136.84%	31.94%
% of Gross Profit	9.57%	6.93%
Operating Expenses	$84.08M	$34.34M	$83.98M
YoY Change	-11.62%	-59.11%	90.51%
Operating Profit	-$47.08M	-$56.49M	-$83.98M
YoY Change	-46.33%	-32.74%	90.51%
Interest Expense	-$5.310M	$6.846M	$6.675M
YoY Change	38.28%	2.56%	346.19%
% of Operating Profit
Other Income/Expense, Net	-$280.0K	-$85.00K	$220.0K
YoY Change	-660.0%	-138.64%	117.82%
Pretax Income	-$52.66M	-$60.53M	-$87.70M
YoY Change	-42.45%	-30.97%	94.23%
Income Tax	$320.0K	$100.0K	$0.00
% Of Pretax Income
Net Earnings	-$52.99M	-$60.68M	-$87.74M
YoY Change	-42.14%	-30.84%	94.21%
Net Earnings / Revenue	-115.93%	-156.06%
Basic Earnings Per Share
Diluted Earnings Per Share	-$591.9K	-$679.9K	-$1.138M
COMMON SHARES
Basic Shares Outstanding	89.34M shares	89.25M shares	77.07M shares
Diluted Shares Outstanding		89.25M shares	77.07M shares

Balance Sheet

Concept	2019 Q4	2019 Q3	2018 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments	$487.4M	$535.6M	$567.6M
YoY Change	-1.56%	-5.64%	31.79%
Cash & Equivalents	$487.4M	$535.6M	$567.6M
Short-Term Investments
Other Short-Term Assets	$20.20M	$21.30M	$9.900M
YoY Change	78.76%	115.15%	45.59%
Inventory	$28.31M	$23.31M
Prepaid Expenses
Receivables	$19.23M	$15.35M
Other Receivables	$0.00	$0.00
Total Short-Term Assets	$555.2M	$595.6M	$577.5M
YoY Change	6.98%	3.14%	32.0%
LONG-TERM ASSETS
Property, Plant & Equipment	$60.18M	$53.00M	$19.53M
YoY Change	166.28%	171.43%	117.56%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets	$20.30M	$19.60M	$4.600M
YoY Change	372.09%	326.09%	187.5%
Total Long-Term Assets	$187.1M	$167.5M	$84.02M
YoY Change	118.56%	99.38%	22.25%
TOTAL ASSETS
Total Short-Term Assets	$555.2M	$595.6M	$577.5M
Total Long-Term Assets	$187.1M	$167.5M	$84.02M
Total Assets	$742.3M	$763.1M	$661.5M
YoY Change	22.78%	15.36%	30.68%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable	$13.18M	$20.42M	$16.58M
YoY Change	-25.69%	23.14%	77.35%
Accrued Expenses	$40.38M	$38.91M	$40.37M
YoY Change	5.54%	-3.62%	114.7%
Deferred Revenue
YoY Change
Short-Term Debt	$0.00	$0.00	$0.00
YoY Change
Long-Term Debt Due	$1.200M
YoY Change
Total Short-Term Liabilities	$85.24M	$85.39M	$57.42M
YoY Change	6.91%	48.72%	99.61%
LONG-TERM LIABILITIES
Long-Term Debt	$335.9M	$331.0M	$311.9M
YoY Change	6.12%	6.14%	463.05%
Other Long-Term Liabilities	$10.61M	$11.26M	$826.0K
YoY Change		1263.68%	10.58%
Total Long-Term Liabilities	$346.5M	$342.3M	$312.7M
YoY Change	9.47%	9.46%	457.03%
TOTAL LIABILITIES
Total Short-Term Liabilities	$85.24M	$85.39M	$57.42M
Total Long-Term Liabilities	$346.5M	$342.3M	$312.7M
Total Liabilities	$480.6M	$459.1M	$370.1M
YoY Change	21.28%	24.04%	335.93%
SHAREHOLDERS EQUITY
Retained Earnings	-$1.536B	-$1.484B	-$1.191B
YoY Change	19.84%	24.6%	33.4%
Common Stock	$897.0K	$893.0K	$771.0K
YoY Change	16.04%	15.82%	0.65%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity	$261.7M	$304.0M	$291.4M
YoY Change
Total Liabilities & Shareholders Equity	$742.3M	$763.1M	$661.5M
YoY Change	22.78%	15.36%	30.68%

Cashflow Statement

Concept	2019 Q4	2019 Q3	2018 Q3
OPERATING ACTIVITIES
Net Income	-$52.99M	-$60.68M	-$87.74M
YoY Change	-42.14%	-30.84%	94.21%
Depreciation, Depletion And Amortization	$3.540M	$2.250M	$950.0K
YoY Change	62.39%	136.84%	31.94%
Cash From Operating Activities	-$44.40M	-$52.37M	-$64.86M
YoY Change	-36.73%	-19.26%	69.61%
INVESTING ACTIVITIES
Capital Expenditures	-$13.04M	-$14.59M	-$1.850M
YoY Change	174.53%	688.65%	311.11%
Acquisitions
YoY Change
Other Investing Activities
YoY Change
Cash From Investing Activities	-$13.04M	-$14.59M	-$1.850M
YoY Change	174.53%	688.65%	311.11%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities	9.240M	1.360M	-20.00K
YoY Change	281.82%	-6900.0%	-100.01%
NET CHANGE
Cash From Operating Activities	-44.40M	-52.37M	-64.86M
Cash From Investing Activities	-13.04M	-14.59M	-1.850M
Cash From Financing Activities	9.240M	1.360M	-20.00K
Net Change In Cash	-48.20M	-65.60M	-66.73M
YoY Change	-33.52%	-1.69%	-119.65%
FREE CASH FLOW
Cash From Operating Activities	-$44.40M	-$52.37M	-$64.86M
Capital Expenditures	-$13.04M	-$14.59M	-$1.850M
Free Cash Flow	-$31.36M	-$37.78M	-$63.01M
YoY Change	-52.06%	-40.04%	66.74%

Facts In Submission

Frame	Concept Type	Concept / XBRL Key	Value	Unit
	dei	Amendment Flag AmendmentFlag	false
	dei	Document Fiscal Year Focus DocumentFiscalYearFocus	2019
	dei	Current Fiscal Year End Date CurrentFiscalYearEndDate	--12-31
	dei	Document Fiscal Period Focus DocumentFiscalPeriodFocus	Q3
	dei	Entity Central Index Key EntityCentralIndexKey	0001104506
	dei	Document Type DocumentType	10-Q
	dei	Document Quarterly Report DocumentQuarterlyReport	true
	dei	Document Period End Date DocumentPeriodEndDate	2019-09-30
	dei	Document Transition Report DocumentTransitionReport	false
	dei	Entity File Number EntityFileNumber	000-30739
	dei	Entity Registrant Name EntityRegistrantName	INSMED INC
	dei	Entity Incorporation State Country Code EntityIncorporationStateCountryCode	VA
	dei	Entity Tax Identification Number EntityTaxIdentificationNumber	54-1972729
	dei	Entity Address Address Line1 EntityAddressAddressLine1	10 Finderne Avenue
	dei	Entity Address Address Line2 EntityAddressAddressLine2	Building 10
	dei	Entity Address City Or Town EntityAddressCityOrTown	Bridgewater
	dei	Entity Address State Or Province EntityAddressStateOrProvince	NJ
	dei	Entity Address Postal Zip Code EntityAddressPostalZipCode	08807
	dei	City Area Code CityAreaCode	908
	dei	Local Phone Number LocalPhoneNumber	977-9900
	dei	Security12b Title Security12bTitle	Common stock, par value $0.01 per share
	dei	Entity Current Reporting Status EntityCurrentReportingStatus	Yes
	dei	Trading Symbol TradingSymbol	INSM
	dei	Security Exchange Name SecurityExchangeName	NASDAQ
	dei	Entity Interactive Data Current EntityInteractiveDataCurrent	Yes
	dei	Entity Filer Category EntityFilerCategory	Large Accelerated Filer
	dei	Entity Small Business EntitySmallBusiness	false
	dei	Entity Emerging Growth Company EntityEmergingGrowthCompany	false
	dei	Entity Shell Company EntityShellCompany	false
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CY2018Q4	us-gaap	Accounts Receivable Net Current AccountsReceivableNetCurrent	5515000	USD
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CY2018Q4	us-gaap	Inventory Net InventoryNet	7032000	USD
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CY2019Q3	us-gaap	Operating Lease Right Of Use Asset OperatingLeaseRightOfUseAsset	39949000	USD
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	us-gaap	Costs And Expenses CostsAndExpenses	278922000	USD
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	us-gaap	Interest Expense InterestExpense	20357000	USD
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	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	6389000	USD
	us-gaap	Adjustments To Additional Paid In Capital Equity Component Of Convertible Debt AdjustmentsToAdditionalPaidInCapitalEquityComponentOfConvertibleDebt	136434000	USD
	us-gaap	Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	1000	USD
	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	20205000	USD
CY2018Q3	us-gaap	Stockholders Equity StockholdersEquity	291407000	USD
CY2018Q4	us-gaap	Stockholders Equity StockholdersEquity	208266000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-201349000	USD
	us-gaap	Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent	1000	USD
	us-gaap	Stock Issued During Period Value Stock Options Exercised StockIssuedDuringPeriodValueStockOptionsExercised	14965000	USD
	us-gaap	Stock Issued During Period Value New Issues StockIssuedDuringPeriodValueNewIssues	261074000	USD
	us-gaap	Stock Issued During Period Value Restricted Stock Award Net Of Forfeitures StockIssuedDuringPeriodValueRestrictedStockAwardNetOfForfeitures	1000	USD
	us-gaap	Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue	21083000	USD
CY2019Q3	us-gaap	Stockholders Equity StockholdersEquity	304041000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-201349000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-232704000	USD
	us-gaap	Depreciation Depreciation	3249000	USD
	us-gaap	Depreciation Depreciation	2652000	USD
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	3745000	USD
	us-gaap	Amortization Of Intangible Assets AmortizationOfIntangibleAssets	0	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	21083000	USD
	us-gaap	Share Based Compensation ShareBasedCompensation	20205000	USD
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	0	USD
	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-2209000	USD
	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	1047000	USD
	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	1000000	USD
	insm	Increase Decrease In Accrued Liabilities And Other Current Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherCurrentLiabilities	10999000	USD
	insm	Increase Decrease In Accrued Liabilities And Other Current Liabilities IncreaseDecreaseInAccruedLiabilitiesAndOtherCurrentLiabilities	9823000	USD
	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	-8254000	USD
	insm	Amortization Of Debt Discount Premium And Accretion Expense AmortizationOfDebtDiscountPremiumAndAccretionExpense	13398000	USD
	insm	Amortization Of Debt Discount Premium And Accretion Expense AmortizationOfDebtDiscountPremiumAndAccretionExpense	11591000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	9831000	USD
	us-gaap	Increase Decrease In Accounts Receivable IncreaseDecreaseInAccountsReceivable	0	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	16281000	USD
	us-gaap	Increase Decrease In Inventories IncreaseDecreaseInInventories	0	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	10156000	USD
	us-gaap	Increase Decrease In Prepaid Deferred Expense And Other Assets IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets	4315000	USD
	us-gaap	Increase Decrease In Other Noncurrent Assets IncreaseDecreaseInOtherNoncurrentAssets	15305000	USD
	us-gaap	Increase Decrease In Other Noncurrent Assets IncreaseDecreaseInOtherNoncurrentAssets	0	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	1410000	USD
	us-gaap	Increase Decrease In Accounts Payable IncreaseDecreaseInAccountsPayable	2536000	USD
	us-gaap	Increase Decrease In Employee Related Liabilities IncreaseDecreaseInEmployeeRelatedLiabilities	-810000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-206245000	USD
	us-gaap	Net Cash Provided By Used In Operating Activities NetCashProvidedByUsedInOperatingActivities	-187813000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	29230000	USD
	us-gaap	Payments To Acquire Property Plant And Equipment PaymentsToAcquirePropertyPlantAndEquipment	10063000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-29230000	USD
	us-gaap	Net Cash Provided By Used In Investing Activities NetCashProvidedByUsedInInvestingActivities	-10063000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	14966000	USD
	us-gaap	Proceeds From Stock Options Exercised ProceedsFromStockOptionsExercised	6390000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	261074000	USD
	us-gaap	Proceeds From Issuance Of Common Stock ProceedsFromIssuanceOfCommonStock	0	USD
	us-gaap	Payments Of Debt Extinguishment Costs PaymentsOfDebtExtinguishmentCosts	0	USD
	us-gaap	Payments Of Debt Extinguishment Costs PaymentsOfDebtExtinguishmentCosts	2835000	USD
	us-gaap	Repayments Of Debt RepaymentsOfDebt	0	USD
	us-gaap	Repayments Of Debt RepaymentsOfDebt	55000000	USD
	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	0	USD
	us-gaap	Proceeds From Convertible Debt ProceedsFromConvertibleDebt	450000000	USD
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	0	USD
	us-gaap	Payments Of Debt Issuance Costs PaymentsOfDebtIssuanceCosts	14235000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	276040000	USD
	us-gaap	Net Cash Provided By Used In Financing Activities NetCashProvidedByUsedInFinancingActivities	384320000	USD
	us-gaap	Effect Of Exchange Rate On Cash And Cash Equivalents EffectOfExchangeRateOnCashAndCashEquivalents	-5000	USD
	us-gaap	Effect Of Exchange Rate On Cash And Cash Equivalents EffectOfExchangeRateOnCashAndCashEquivalents	-35000	USD
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	40560000	USD
	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect	186409000	USD
CY2018Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	495072000	USD
CY2017Q4	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	381165000	USD
CY2019Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	535632000	USD
CY2018Q3	us-gaap	Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents	567574000	USD
	us-gaap	Interest Paid Net InterestPaidNet	7880000	USD
	us-gaap	Interest Paid Net InterestPaidNet	4975000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	320000	USD
	us-gaap	Income Taxes Paid Net IncomeTaxesPaidNet	127000	USD
CY2019Q3	us-gaap	Cash And Cash Equivalents At Carrying Value CashAndCashEquivalentsAtCarryingValue	535600000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-201300000	USD
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	76819000	shares
	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	82907000	shares
	insm	Fair Value Level1 Level2 Level3 Transfers Amount FairValueLevel1Level2Level3TransfersAmount	0	USD
	insm	Fair Value Level1 Level2 Level3 Transfers Amount FairValueLevel1Level2Level3TransfersAmount	0	USD
CY2018Q4	insm	Availableforsale Securities Gross Unrealized Gain Loss Numberof Securities AvailableforsaleSecuritiesGrossUnrealizedGainLossNumberofSecurities	0	security
CY2019Q3	insm	Availableforsale Securities Gross Unrealized Gain Loss Numberof Securities AvailableforsaleSecuritiesGrossUnrealizedGainLossNumberofSecurities	0	security
CY2019Q3	us-gaap	Net Income Loss NetIncomeLoss	-60682000	USD
CY2018Q3	us-gaap	Net Income Loss NetIncomeLoss	-87743000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-201349000	USD
	us-gaap	Net Income Loss NetIncomeLoss	-232704000	USD
CY2019Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	89245000	shares
CY2018Q3	us-gaap	Weighted Average Number Of Shares Outstanding Basic WeightedAverageNumberOfSharesOutstandingBasic	77066000	shares
CY2018Q3	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	0	shares
CY2019Q3	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	0	shares
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-3.03
	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	0	shares
	us-gaap	Incremental Common Shares Attributable To Conversion Of Debt Securities IncrementalCommonSharesAttributableToConversionOfDebtSecurities	0	shares
CY2019Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	89245000	shares
CY2018Q3	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	77066000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	82907000	shares
	us-gaap	Weighted Average Number Of Diluted Shares Outstanding WeightedAverageNumberOfDilutedSharesOutstanding	76819000	shares
CY2019Q3	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-0.68
CY2018Q3	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-1.14
	us-gaap	Earnings Per Share Basic And Diluted EarningsPerShareBasicAndDiluted	-2.43
	us-gaap	Concentration Risk Credit Risk ConcentrationRiskCreditRisk	<div style="text-indent:42.75pt;margin-top:8pt;margin-bottom:8pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:700;line-height:120%;">Concentration of Credit Risk</span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">—Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash and cash equivalents. The Company places its cash equivalents with high credit-quality financial institutions and may invest its short-term investments in US treasury securities, mutual funds and government agency bonds. The Company has established guidelines relative to credit ratings and maturities that seek to maintain safety and liquidity.</span></div><div style="text-indent:42.75pt;margin-top:8pt;margin-bottom:8pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">The Company is exposed to risks associated with extending credit to customers related to the sale of products. The Company does not require collateral to secure amounts due from its customers. The following table presents the percentage of gross product revenue represented by the Company's three largest customers as of the nine months ended September 30, 2019.</span></div><div style="text-align:center;margin-top:13.2pt;margin-bottom:6pt;"><table style="margin-left:auto;margin-right:auto;border-collapse:collapse;text-align:left;text-indent:0pt;display:inline-table;width:52.192982%;"><tr><td style="width:1.0%;"/><td style="width:48.700280%;"/><td style="width:1.0%;"/><td style="width:1.0%;"/><td style="width:47.299720%;"/><td style="width:1.0%;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" rowspan="2" style="background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"/><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:700;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">Percentage of Total Gross Product Revenue</span></td><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">Customer A</span></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:center;vertical-align:bottom;border-top:1pt solid #000000;padding-left:1pt;padding-right:0%;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">31% </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;border-top:1pt solid #000000;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">Customer B</span></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">28% </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#ffffff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr><tr><td colspan="3" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:left;vertical-align:bottom;padding-left:1pt;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">Customer C</span></td><td colspan="2" style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:center;vertical-align:bottom;padding-left:1pt;padding-right:0%;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);">21% </span></td><td style="padding-top:2px;padding-bottom:2px;background-color:#cceeff;text-align:right;vertical-align:bottom;padding-right:1pt;"><span style="font-size:10pt;font-weight:400;font-family:'Times New Roman';color:#000000;background-color:rgb(255,255,255, 0.0);"> </span></td><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/><td colspan="3" style="display:none;"/></tr></table></div><div style="text-indent:42.75pt;margin-top:8pt;margin-bottom:8pt;"><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">The Company did not have product revenue prior to US FDA approval of ARIKAYCE in September 2018. The Company relies on third-party manufacturers and suppliers for manufacturing and supply of its products. The inability of the suppliers or manufacturers to fulfill supply requirements of the Company could materially impact future operating results. A change in the relationship with the suppliers or manufacturer, or an adverse change in their business, could materially impact future operating results.</span></div>
CY2019Q3	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	6199000	USD
	us-gaap	Revenue Recognition Sales Of Goods RevenueRecognitionSalesOfGoods	<span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-style:italic;font-weight:700;line-height:120%;">Cost of product revenues (excluding amortization of intangible assets) - </span><span style="background-color:rgb(255,255,255, 0.0);color:#000000;font-family:'Times New Roman';font-size:10pt;font-weight:400;line-height:120%;">Cost of product revenues (excluding amortization of intangible assets) consist primarily of direct and indirect costs related to the manufacturing of ARIKAYCE sold, including third-party manufacturing costs, packaging services, freight, and allocation of overhead costs, in addition to royalty expenses and milestone payments. Prior to FDA approval of ARIKAYCE, the Company expensed all inventory related costs in the period incurred. Inventory used for clinical development purposes is expensed to research and development (R&D) expense when consumed.</span>
CY2019Q3	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	10556000	USD
CY2018Q4	us-gaap	Inventory Raw Materials Net Of Reserves InventoryRawMaterialsNetOfReserves	2145000	USD
CY2019Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Two FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo	5000000.0	USD
CY2019Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Three FiniteLivedIntangibleAssetsAmortizationExpenseYearThree	5000000.0	USD
CY2018Q4	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	58700000	USD
CY2018Q4	us-gaap	Inventory Work In Process Net Of Reserves InventoryWorkInProcessNetOfReserves	4567000	USD
CY2019Q3	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	6558000	USD
CY2018Q4	us-gaap	Inventory Finished Goods Net Of Reserves InventoryFinishedGoodsNetOfReserves	320000	USD
CY2019Q3	us-gaap	Inventory Net InventoryNet	23313000	USD
CY2018Q4	us-gaap	Inventory Net InventoryNet	7032000	USD
CY2019Q3	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	54900000	USD
	us-gaap	Finite Lived Intangible Asset Useful Life FiniteLivedIntangibleAssetUsefulLife	P12Y
CY2019Q1	us-gaap	Finite Lived Intangible Assets Gross FiniteLivedIntangibleAssetsGross	58675000	USD
	us-gaap	Finitelived Intangible Assets Acquired1 FinitelivedIntangibleAssetsAcquired1	0	USD
CY2019Q3	us-gaap	Finite Lived Intangible Assets Accumulated Amortization FiniteLivedIntangibleAssetsAccumulatedAmortization	3745000	USD
CY2019Q3	us-gaap	Finite Lived Intangible Assets Net FiniteLivedIntangibleAssetsNet	54930000	USD
CY2019Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear	5000000.0	USD
CY2019Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Five FiniteLivedIntangibleAssetsAmortizationExpenseYearFive	5000000.0	USD
CY2019Q3	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	70508000	USD
CY2019Q3	us-gaap	Finite Lived Intangible Assets Amortization Expense Year Four FiniteLivedIntangibleAssetsAmortizationExpenseYearFour	5000000.0	USD
CY2018Q4	us-gaap	Property Plant And Equipment Gross PropertyPlantAndEquipmentGross	36809000	USD
CY2019Q3	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	17517000	USD
CY2018Q4	us-gaap	Accumulated Depreciation Depletion And Amortization Property Plant And Equipment AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment	14173000	USD
CY2019Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	52991000	USD
CY2018Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	22636000	USD
CY2019Q3	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	53000000.0	USD
CY2018Q4	us-gaap	Property Plant And Equipment Net PropertyPlantAndEquipmentNet	22600000	USD
CY2018Q4	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	13398000	USD
CY2019Q3	insm	Accrued Clinical Trial Expenses AccruedClinicalTrialExpenses	4988000	USD
CY2018Q4	insm	Accrued Clinical Trial Expenses AccruedClinicalTrialExpenses	6635000	USD
CY2019Q3	us-gaap	Accrued Professional Fees Current AccruedProfessionalFeesCurrent	9421000	USD
CY2019Q3	insm	Accrued Technical Operation Expenses AccruedTechnicalOperationExpenses	10176000	USD
CY2018Q4	insm	Accrued Technical Operation Expenses AccruedTechnicalOperationExpenses	9371000	USD
CY2019Q3	us-gaap	Accrued Royalties Current AccruedRoyaltiesCurrent	1830000	USD
CY2018Q4	us-gaap	Accrued Royalties Current AccruedRoyaltiesCurrent	409000	USD
CY2019Q3	us-gaap	Interest Payable Current InterestPayableCurrent	1663000	USD
CY2018Q4	us-gaap	Interest Payable Current InterestPayableCurrent	3631000	USD
CY2019Q3	insm	Accrued Sales Allowancesand Related Costs AccruedSalesAllowancesandRelatedCosts	4640000	USD
CY2018Q4	insm	Accrued Sales Allowancesand Related Costs AccruedSalesAllowancesandRelatedCosts	818000	USD
CY2019Q3	insm	Accrued Construction Liabilities Current AccruedConstructionLiabilitiesCurrent	4693000	USD
CY2018Q4	insm	Accrued Construction Liabilities Current AccruedConstructionLiabilitiesCurrent	2946000	USD
CY2019Q3	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	1497000	USD
CY2018Q4	us-gaap	Other Accrued Liabilities Current OtherAccruedLiabilitiesCurrent	1046000	USD
CY2019Q3	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	38908000	USD
CY2018Q4	us-gaap	Accrued Liabilities Current AccruedLiabilitiesCurrent	38254000	USD
	us-gaap	Operating Lease Cost OperatingLeaseCost	3072000	USD
	us-gaap	Operating Lease Cost OperatingLeaseCost	9225000	USD
	us-gaap	Lease Cost LeaseCost	3072000	USD
	us-gaap	Lease Cost LeaseCost	9225000	USD
	us-gaap	Operating Lease Payments OperatingLeasePayments	3140000	USD
	us-gaap	Operating Lease Payments OperatingLeasePayments	9415000	USD
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	0	USD
	us-gaap	Right Of Use Asset Obtained In Exchange For Operating Lease Liability RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability	47389000	USD
CY2019Q3	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P5Y2M12D
CY2018Q3	us-gaap	Operating Lease Weighted Average Remaining Lease Term1 OperatingLeaseWeightedAverageRemainingLeaseTerm1	P5Y2M12D
CY2019Q3	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.074
CY2018Q3	us-gaap	Operating Lease Weighted Average Discount Rate Percent OperatingLeaseWeightedAverageDiscountRatePercent	0.074
CY2019Q3	us-gaap	Lessee Operating Lease Liability Payments Remainder Of Fiscal Year LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear	6435000	USD
CY2019Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Two LesseeOperatingLeaseLiabilityPaymentsDueYearTwo	10984000	USD
CY2019Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Three LesseeOperatingLeaseLiabilityPaymentsDueYearThree	10287000	USD
CY2019Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Four LesseeOperatingLeaseLiabilityPaymentsDueYearFour	6000000	USD
CY2019Q3	us-gaap	Lessee Operating Lease Liability Payments Due Year Five LesseeOperatingLeaseLiabilityPaymentsDueYearFive	6000000	USD
CY2019Q3	us-gaap	Lessee Operating Lease Liability Payments Due After Year Five LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive	12000000	USD
CY2019Q3	us-gaap	Lessee Operating Lease Liability Payments Due LesseeOperatingLeaseLiabilityPaymentsDue	51706000	USD
CY2019Q3	us-gaap	Lessee Operating Lease Liability Undiscounted Excess Amount LesseeOperatingLeaseLiabilityUndiscountedExcessAmount	8304000	USD
CY2019Q3	us-gaap	Debt Instrument Unamortized Discount DebtInstrumentUnamortizedDiscount	111605000	USD
CY2019Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	43402000	USD
CY2019Q3	us-gaap	Operating Lease Liability Current OperatingLeaseLiabilityCurrent	11985000	USD
CY2019Q3	us-gaap	Operating Lease Liability Noncurrent OperatingLeaseLiabilityNoncurrent	31417000	USD
CY2019Q3	us-gaap	Operating Lease Liability OperatingLeaseLiability	43402000	USD
	insm	Lessee Operating Lease Lease Notyet Commenced Amount LesseeOperatingLeaseLeaseNotyetCommencedAmount	15500000	USD
CY2019Q3	us-gaap	Secured Debt SecuredDebt	450000000	USD
CY2018Q4	us-gaap	Secured Debt SecuredDebt	450000000	USD
CY2019Q3	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	7392000	USD
CY2018Q4	us-gaap	Deferred Finance Costs Net DeferredFinanceCostsNet	8440000	USD
CY2018Q4	us-gaap	Debt Instrument Unamortized Discount DebtInstrumentUnamortizedDiscount	125002000	USD
CY2019Q3	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	331003000	USD
CY2018Q4	us-gaap	Long Term Debt Noncurrent LongTermDebtNoncurrent	316558000	USD
CY2019Q3	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	349000	USD
CY2018Q3	us-gaap	Interest Expense Debt InterestExpenseDebt	1971000	USD
	us-gaap	Interest Expense Debt InterestExpenseDebt	5912000	USD
	us-gaap	Interest Expense Debt InterestExpenseDebt	6214000	USD
CY2019Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear	0	USD
CY2019Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Two LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo	0	USD
CY2019Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Three LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree	0	USD
CY2019Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Four LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour	0	USD
CY2019Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal In Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive	0	USD
CY2019Q3	us-gaap	Long Term Debt Maturities Repayments Of Principal After Year Five LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive	450000000	USD
CY2019Q3	us-gaap	Long Term Debt LongTermDebt	450000000	USD
CY2018Q1	us-gaap	Gains Losses On Extinguishment Of Debt GainsLossesOnExtinguishmentOfDebt	-2200000	USD
CY2019Q3	us-gaap	Interest Expense Debt InterestExpenseDebt	1971000	USD
CY2018Q3	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	415000	USD
	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	1047000	USD
	us-gaap	Amortization Of Financing Costs AmortizationOfFinancingCosts	1000000	USD
CY2019Q3	insm	Amortization Of Backend Fee AmortizationOfBackendFee	0	USD
CY2018Q3	insm	Amortization Of Backend Fee AmortizationOfBackendFee	0	USD
	insm	Amortization Of Backend Fee AmortizationOfBackendFee	0	USD
	insm	Amortization Of Backend Fee AmortizationOfBackendFee	50000	USD
CY2019Q3	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	4526000	USD
CY2018Q3	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	4289000	USD
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	13398000	USD
	us-gaap	Amortization Of Debt Discount Premium AmortizationOfDebtDiscountPremium	11541000	USD
CY2019Q3	us-gaap	Interest Expense InterestExpense	6846000	USD
CY2018Q3	us-gaap	Interest Expense InterestExpense	6675000	USD
	us-gaap	Interest Expense InterestExpense	20357000	USD
	us-gaap	Interest Expense InterestExpense	18805000	USD
CY2019Q3	us-gaap	Common Stock Shares Authorized CommonStockSharesAuthorized	500000000	shares
CY2019Q3	us-gaap	Common Stock Par Or Stated Value Per Share CommonStockParOrStatedValuePerShare	0.01
CY2019Q3	us-gaap	Common Stock Shares Outstanding CommonStockSharesOutstanding	89310684	shares
CY2019Q3	us-gaap	Common Stock Shares Issued CommonStockSharesIssued	89310684	shares
CY2019Q3	us-gaap	Preferred Stock Shares Authorized PreferredStockSharesAuthorized	200000000	shares
CY2019Q3	us-gaap	Preferred Stock Par Or Stated Value Per Share PreferredStockParOrStatedValuePerShare	0.01
CY2019Q3	us-gaap	Preferred Stock Shares Outstanding PreferredStockSharesOutstanding	0	shares
CY2019Q3	us-gaap	Preferred Stock Shares Issued PreferredStockSharesIssued	0	shares
	insm	Share Based Compensation Arrangement By Share Based Payment Award Inducement Options Grants In Period Gross ShareBasedCompensationArrangementByShareBasedPaymentAwardInducementOptionsGrantsInPeriodGross	198530	shares
CY2019Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	100000	USD
CY2018Q3	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	0.0	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	500000	USD
	us-gaap	Income Tax Expense Benefit IncomeTaxExpenseBenefit	100000	USD
	us-gaap	Deferred Income Tax Expense Benefit DeferredIncomeTaxExpenseBenefit	0	USD
CY2019Q3	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	400000	USD
CY2018Q3	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	400000	USD
	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	2000000.0	USD
	us-gaap	Lease And Rental Expense LeaseAndRentalExpense	1200000	USD

Files In Submission

Name	View Source	Status
0001104506-19-000026-index-headers.html	Edgar Link	pending
0001104506-19-000026-index.html	Edgar Link	pending
0001104506-19-000026.txt	Edgar Link	pending
0001104506-19-000026-xbrl.zip	Edgar Link	pending
FilingSummary.xml	Edgar Link	unprocessable
Financial_Report.xlsx	Edgar Link	pending
insm-20190930.htm	Edgar Link	pending
insm-20190930.xsd	Edgar Link	pending
insm-20190930_cal.xml	Edgar Link	unprocessable
insm-20190930_def.xml	Edgar Link	unprocessable
insm-20190930_htm.xml	Edgar Link	completed
insm-20190930_lab.xml	Edgar Link	unprocessable
insm-20190930_pre.xml	Edgar Link	unprocessable
insm20190930ex311.htm	Edgar Link	pending
insm20190930ex312.htm	Edgar Link	pending
insm20190930ex321.htm	Edgar Link	pending
insm20190930ex322.htm	Edgar Link	pending
MetaLinks.json	Edgar Link	pending
R1.htm	Edgar Link	pending
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R5.htm	Edgar Link	pending
R50.htm	Edgar Link	pending
R6.htm	Edgar Link	pending
R7.htm	Edgar Link	pending
R8.htm	Edgar Link	pending
R9.htm	Edgar Link	pending
report.css	Edgar Link	pending
Show.js	Edgar Link	pending

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$INSM
INSMED Inc Stock $insm

2019 Q4 Form 10-Q Financial Statement

#000110450619000026 Filed on October 30, 2019

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$INSM INSMED Inc Stock $insm

2019 Q4 Form 10-Q Financial Statement

#000110450619000026 Filed on October 30, 2019

Income Statement

Balance Sheet

Cashflow Statement

Facts In Submission

Files In Submission

$INSM
INSMED Inc Stock $insm