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Insmed INSM Brensocatib external R&D expenses — R&D

Other product segments

INS1148
$40M
TPIP external R&D expenses
$37.34M+308%
Other external R&D expenses
$32.68M+16.4%
ARIKAYCE external R&D expenses
$8.62M-28.9%

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Other financials

Income statement

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Revenue$306.0M+230%
Gross profit$258.5M+261%
Operating income-$153.3M+38.2%
Net income-$163.6M+36.3%
EPS (diluted)-$0.76+46.5%

Balance sheet

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Cash & equivalents$582.2M+44.4%
Total debt$580.3M-49.2%
Total equity$704.9M+611%
Total assets$2.1B+15.2%

Cash flow

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Operating cash flow-$222.7M+15.0%
CapEx$3.5M-65.4%
Free cash flow-$226.2M+16.9%

Valuation

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Market cap$23.18B+19.9%
Enterprise value$23.17B+24.5%
P/S28.3×-20.3×

Profitability

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Gross margin81.8%+5.3pp
Operating margin-140.6%-43.9pp
Net margin-144.4%-45.3pp
FCF margin-112.5%-35.3pp

Returns & leverage

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Return on equity-294.5%
Debt / equity0.8×-10.7×
Current ratio4.5×-1.4×

Where this comes from

Reported directly by Insmed in its filing.

Tagged under the XBRL concept us-gaap:ResearchAndDevelopmentExpense.

The official record: Insmed’s 10-Q, filed May 7, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is Insmed's brensocatib external R&D expenses — R&D?
Insmed (INSM) reported brensocatib external R&D expenses — R&D of $18.48M in Q1 2026.
How has Insmed's brensocatib external R&D expenses — R&D changed year-over-year?
Insmed's brensocatib external R&D expenses — R&D decreased by 10.5% year-over-year, from $20.66M to $18.48M.
What is the long-term trend for Insmed's brensocatib external R&D expenses — R&D?
Over 3 years (2022 to 2025), Insmed's brensocatib external R&D expenses — R&D has grown at a -2.0% compound annual growth rate (CAGR), from $102.53M to $96.52M.
What does brensocatib external R&D expenses — R&D mean?
This metric represents the direct external costs incurred for the clinical development and research activities specifically associated with the Brensocatib program. It captures payments to third-party contract research organizations, clinical trial sites, and manufacturing partners dedicated to advancing this specific pipeline asset. Monitoring these expenses provides insight into the capital intensity and progress of the company's key late-stage clinical development efforts.