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Insmed plans to conduct $80 million public offering of common stock
Bookrunner Leerink Partners, lead managers Piper Jaffray, JMP assist
By Devika Patel
Knoxville, Tenn., Aug. 11 – Insmed Inc. plans to price an $80 million public sale of common stock with a 30-day $12 million greenshoe option, according to a preliminary prospectus supplement filed Monday with the Securities and Exchange Commission.
Leerink Partners is the sole bookrunner, Piper Jaffray and JMP Securities are the lead managers, and H.C. Wainwright & Co., LLC is the co-manager.
Proceeds will be used to obtain regulatory approvals, commercialize Arikayce and increase manufacturing capacity for the commercial launch of Arikayce as well as for clinical development, working capital, debt repayment, capital expenditures, general research and development and other general corporate purposes.
Insmed, based in Richmond, Va., develops treatments for metabolic diseases.
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