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Insmed prices 6.3M shares at $4.07 in direct public offering

Insmed announced that it has priced a direct public offering of approximately 6.3M shares of its common stock to certain affiliates of Ayer Capital, RA Capital and Quaker Partners, at a price of $4.07 per share, which was the consolidated closing bid price on the NASDAQ on September 27, with gross proceeds to Insmed of $25.7M. The company also expects to offer for sale up to an additional $2M of shares of its stock to an investor, which offering is expected to close on or before October 31.