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Public Equity Report: Insmed, Merus raise combined $1B+ after readouts

ARTICLE | Finance

Plus: PIPEs help Celcuity, Cargo advance clinical programs

By Paul Bonanos, Director of Biopharma Intelligence

May 31, 2024 10:20 PM UTC

On the strength of clinical results, Insmed and Merus each priced follow-ons to raise more than $1 billion combined this week, while Celcuity and Cargo each refilled the till with PIPEs.

Insmed Inc. (NASDAQ:INSM) raised $650 million in an upsized public offering that closely followed its Phase III readout for brensocatib to treat bronchiectasis. The CTSC inhibitor significantly reduced pulmonary exacerbations compared with placebo in the ASPEN study, meeting its primary endpoint…