Insmed Incorporated (NASDAQ:INSM) Q2 2023 Earnings Conference Call August 3, 2023 8:30 AM ET

Company Participants

Bryan Dunn - Head, IR

William Lewis - Chair & CEO

Sara Bonstein - CFO

Martina Flammer - Chief Medical Officer

Conference Call Participants

Judah Frommer - Credit Suisse

Vamil Divan - Guggenheim

Jennifer Kim - Cantor Fitzgerald

Leon Wang - Barclays

Jason Zemansky - Bank of America

Stephen Willey - Stifel

Liisa Bayko - Evercore

Andrea Tan - Goldman Sachs

Joseph Schwartz - Leerink Partners

Operator

Thank you for standing by. My name is Enrique, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Insmed Second Quarter 2023 Financial Results Conference Call. [Operator Instructions]

Now I would like to turn the call over to Bryan Dunn, Executive Director, Investor Relations. Please go ahead.

Bryan Dunn

Thank you, Enrique. Good day, everyone, and welcome to today's conference call to discuss Insmed's second quarter 2023 financial results and provide a business update. I am joined today by Will Lewis, Chair and Chief Executive Officer; and Sara Bonstein, Chief Financial Officer, who will each provide prepared remarks before we open it up for your questions.

Before we start, please note that today's call will include forward-looking statements based on our current expectations. These statements represent our judgment as of today and inherently involve risks and uncertainties that may cause actual results to differ materially from the results discussed.

Please refer to our filings with the Securities and Exchange Commission, which are available at www.sec.gov and on our website, for more information concerning the risk factors that could affect the company. As a reminder, the information on today's call is for the benefit of the investment community. It is not intended for promotional purposes and it is not sufficient for prescribing decisions.

I will now turn the call over to Will Lewis for prepared remarks.

William Lewis

Thank you, Brian. And good morning, everyone. What an incredibly exciting moment we are in at Insmed. From a commercial perspective, in the second quarter of 2023, we achieved the highest quarterly sales in our history, up 18% compared to an already strong first quarter. As a result of this outperformance, we are raising our revenue guidance for the year, making what was the best-case scenario under our previous range of expectations, now the midpoint of our current guidance. Clearly, the commercial engine at Insmed is really humming.