Insmed 8-K Report, Corporate Update (Jun 13, 2024)

Insmed Incorporated reported in a Form 8-K filed June 13, 2024 under Item 8.01 (Other Events) that the negotiation period following AstraZeneca AB's exercise of its second and final option under the License Agreement dated October 4, 2016 expired on June 12, 2024.

As previously disclosed, AstraZeneca had given notice of that Final Option exercise on March 8, 2024, which covered further developing and, if approved, commercializing brensocatib for chronic obstructive pulmonary disease (COPD) or asthma. No agreement was reached between the company and AstraZeneca to permit AstraZeneca to further develop and commercialize brensocatib in COPD or asthma. As a result, the company retains full worldwide development and commercialization rights for brensocatib in all indications other than COPD or asthma, and AstraZeneca has no further development or commercialization rights for brensocatib in COPD, asthma or any other indication.

For investors, the filing resolves the open question of AstraZeneca's participation in brensocatib development for respiratory indications beyond the company's core programs, leaving the company with sole rights to brensocatib outside COPD and asthma. The filing does not state any financial terms, payments, or effects on financial results.