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BRIEF-Insmed announces worldwide license agreement with AstraZeneca for oral DPP1 inhibitor

Oct 5 Insmed Inc

* Insmed will pay AstraZeneca an upfront payment of $30 million

* Agreement provides AstraZeneca with option to negotiate a future agreement with Insmed for commercialization of AZD7986/ins1007

* Continue to expect patient enrollment in phase 3 study of Arikayce to conclude later this year and to report top line data in 2017

* Confirms its cash operating expense guidance for second half of 2016 of $62 million to $72 million

* In a phase 1 study of healthy volunteers AZD7986 was well tolerated

* Says AstraZeneca will be eligible to receive future payments totaling $120 mln in future clinical, regulatory, and sales-related milestones

* Confirms its cash operating expense guidance for second half of 2016 of $62 to $72 million. Source text for Eikon: Further company coverage: [INSM.O>]

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