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Insmed announces $58M public offering

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Insmed, a pharmaceutical company in the Monmouth Junction section of South Brunswick, announced Wednesday a public offering of 6 million shares of common stock at $10.40 per share. Net proceeds are expected to be approximately $58 million.

Leerink Swann LLC is acting as sole book-running manager for the offering. Lazard Capital Markets LLC and Canaccord Genuity Inc. are acting as co-managers of the offering. Insmed granted the underwriters a 30-day option to purchase 0.9 million additional shares of common stock at the offering price to cover any overallotment.

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