$110M for the development and global commercialization of Arikace and "...the acquisition or in-license of additional compounds, product candidates, technology or businesses." To paraphrase what my son would have said some years ago, "...to infinity and beyond!"
This is the press release. Note the last paragraphs where they state they expect approval from the EMA by the end of 2014 and that this is enough money for development, regulatory approval and commercialization. I wonder if the 2014 is correct.
"Insmed Inc. ( INSM ) has priced its offering of 8.9 million shares of common stock at $11.25 each. Net proceeds to the company from the offering are estimated to be roughly $94 million. The offering is expected to close on or about August 18, 2014.
The company's lead product candidate is ARIKAYCE, which is being developed to treat nontuberculous mycobacteria (NTM) lung disease patients and Pseudomonas aeruginosa lung infections in cystic fibrosis (CF) patients.
Insmed plans to initiate U.S. phase III clinical trials of ARIKAYCE in the coming months, and seek European Medicines Agency approval for the drug candidate by the end of 2014.
The clinical development of ARIKAYCE as well regulatory approvals and commercialization of the product will be taken care of the funds raised via the offering, said the company."