Darwin Global Management Discloses 7.8% Stake in INSMED Inc (INSM)

Darwin Global Management, Ltd. and its affiliates filed a Schedule 13G/A on May 15, 2026, reporting an increased beneficial ownership stake in INSMED Inc. (INSM). The reporting group, which includes Dr. Abhishek Trehan and Darwin Global Master Fund, Ltd., disclosed an aggregate ownership of 16,805,184 shares of Common Stock, representing 7.8% of the company based on approximately 215.8 million shares outstanding. The filing indicates that Darwin Global Management serves as the investment manager for the Master Fund and as a sub-investment advisor for certain segregated accounts. Dr. Trehan, as the Chief Investment Officer and controlling person of Darwin Global, shares voting and dispositive power over the reported shares. Specifically, the Master Fund directly holds 14,182,375 shares (6.6%). This amendment reflects a significant increase from the previously reported 0.0% position, marking a substantial new investment position. The reporting persons certified that the shares were acquired in the ordinary course of business and not for the purpose of changing or influencing the control of the issuer.