India, June 11 -- Insmed Inc. (INSM) announced that it priced an underwritten public offering of about 7.81 million shares of its common stock at a price to the public of $96.00 per share.
The company expects gross proceeds from the offering, before deducting underwriting discounts and commissions and other offering expenses, to be approximately $750 million. In addition, Insmed has granted the underwriters a 30-day option to purchase up to an additional 1.17 million shares of common stock.
Insmed said it plans to use the net proceeds from this offering to fund continued research and development of brensocatib as well as pre-commercial and, if approved, commercialization activities related to brensocatib, activities related to the further...