Insmed Incorporated announced the pricing of its initial public offering of 6 million shares for its common stock. Each stock was priced at US$10.40 per share in the registered underwritten public offering. Gross proceeds for the offering were estimated at US$62.4 million. Net proceeds expected from the public offering were set at US$58 million. The amount was computed after deduction of the underwriting discounts and commissions. Leerink Swann LLC acted as the sole book-running manager for the offering. Canaccord Genuity Inc and Lazard Capital Markets LLC acted as co-managers of the deal.

Insmed announced that they will use the proceeds from the sale to fund further clinical development for its lead product, ARIKACE. The funding will be used to obtain approvals and to commercialize ARIKACE in approved markets. The funding will also be used for general research and development, as well as for investment in third party manufacturers. The company will fund the supply chain to establish the commercial supply capability of ARIKACE in the US and Europe markets. The company also proposed that they will allocate funding for working capital and for capital expenditures and other corporate purposes.

Insmed Incorporated is a leading biopharmaceutical company dedicated to improve the lives of patients who are battling serious lung diseases.