Financial Data and Key Metrics Changes - Insmed reported total revenue of $39 million for Q3 2019, with a revenue guidance increase to a range of $133 million to $138 million for the full year [5][29] - The net loss for Q3 2019 was $60.7 million, or $0.68 per share, compared to a net loss of $87.7 million, or $1.14 per share, for Q3 2018 [24][25] - Gross margin for the quarter was 83%, consistent with Q2 2019 [25] Business Line Data and Key Metrics Changes - Global net sales of ARIKAYCE for Q3 2019 were $38.9 million, with $37.8 million from the US and $1.1 million from name patient programs in France and Germany [16][24] - Over 600 new patients initiated therapy during Q3 2019, reflecting strong demand and unmet treatment needs for refractory MAC lung disease patients [17][71] Market Data and Key Metrics Changes - Approximately 85% of patients who started therapy in the first six months remained on the drug by the end of Q3 2019 [19][36] - The company is optimistic about the potential for ARIKAYCE in the EU and Japan, with regulatory filings expected in 2020 [7][8] Company Strategy and Development Direction - Insmed is focused on expanding the label for ARIKAYCE to treat more patients with MAC lung disease and plans to initiate a study in a frontline setting next year [8][9] - The company is also advancing its pipeline, with the WILLOW study of INS1007 expected to yield top-line data in Q1 2020 [9][30] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the long-term growth potential of ARIKAYCE, citing positive feedback from physicians and encouraging trends in patient starts and duration of use [5][6] - The company is managing operating expenses carefully, expecting cash-based operating expenses to be flat to down in the second half of 2019 [14][27] Other Important Information - Insmed appointed Dr. Martina Flammer as the new Chief Medical Officer, bringing over 17 years of experience [12] - The company is evaluating external programs that may create value through addressing unmet medical needs [14] Q&A Session Summary Question: Can you expand on the metrics driving the lower discontinuation rate and duration of therapy? - Management noted that significant efforts in educating physicians and patients about therapy expectations have contributed to improved discontinuation rates and strong persistence in therapy [35][36] Question: What is the strategy for the PRO in the frontline trial? - The PRO will be derived from existing questionnaires, and validation may occur independently or in parallel with the Phase 3 study [50][52] Question: What are the expected improvements in rates of exacerbations in the WILLOW study? - Management expects to see an impact on the rate of pulmonary exacerbations and a correlation with neutrophil serine protease reductions [90][91] Question: What is the timing for the next trials for ARIKAYCE? - The timeline for the frontline study is uncertain and will depend on discussions with the FDA, but both frontline and M abscessus studies are being prepared [75][78] Question: How should milestone payments be viewed going forward? - Future milestone payments related to ARIKAYCE are not expected to be material, as they tend to be lumpy [80]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-30739 INSMED INCORPORATED (Exact name of registrant as specified in its charter) Virginia 54-1972729 (Address of principal e ...

Investor Presentation September 2019 Not for promotional use Forward-Looking Statements This presentation contains forward-looking statements that involve substantial risks and uncertainties. "Forward-looking statements," as that term is defined in the Private Securities Litigation Reform Act of 1995, are statements that are not historical facts and involve a number of risks and uncertainties. Words herein such as "may," "will," "should," "could," "would," "expects," "plans," "anticipates," "believes," "est ...

Insmed, Inc. (NASDAQ:INSM) Q2 2019 Results Conference Call August 1, 2019 8:30 AM ET Company Participants Blaine Davis - Head of Investor Relations Will Lewis - Chairman and Chief Executive Officer Roger Adsett - Chief Commercial Officer John Goll - Chief Accounting Officer Conference Call Participants Martin Auster - Credit Suisse Matthew Harrison - Morgan Stanley Adam Walsh - Stifel Financial Corp Joseph Schwartz - SVB Leerink Josh Schimmer - Evercore ISI Liisa Bayko - JMP Securities Operator Good day, la ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2019 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-30739 INSMED INCORPORATED (Exact name of registrant as specified in its charter) Virginia 54-1972729 (State or other jurisdiction ...

Insmed, Inc. (NASDAQ:INSM) Q1 2019 Earnings Conference Call May 7, 2019 8:30 AM ET Company Participants Blaine Davis - VP & Head of IR William Lewis - President, CEO & Chairman Roger Adsett - Chief Commercial Officer Paolo Tombesi - CFO Conference Call Participants Martin Auster - Crédit Suisse Ritu Baral - Cowen and Company Dewey Steadman - Canaccord Genuity Joseph Schwartz - SVB Leerink Adam Walsh - Stifel, Nicolaus & Company Operator Good day Ladies and gentlemen, and welcome to Insmed Conference Call to ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Virginia 54-1972729 (State or other jurisdiction of incorporation or organization) (I.R.S. employer identification no.) (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2019 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 000-30739 IN ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ý ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2018 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-30739 INSMED INCORPORATED (Exact name of registrant as specified in its charter) Virginia (State or other jurisdictio ...