• Reported GAAP EPS of -$0.46 up 73.71% YoY
• Reported revenue of $524.43M up 268.43% YoY
• Insmed raised full-year 2026 revenue guidance for BRINSUPRI to $1.35B to $1.4B and ARIKAYCE to $460M to $470M, from prior guidance.
your bearish thesis is incorrect. Arikayce clinical benefit has been established for years, and sales growth is still ramping. Maybe you were referring to TPIP, which is in phase 3, and it already showed efficacy in phase 2? Or one of the early stage indications without data yet?