DD,
To be honest and no disrespect, but I would hardly consider INSM a value play. Not even at this level. I also believe that the 120 million in shares might not be enough. It just won't bring in enough cash. As for partners: yes, probably a necessity, but will lead to either additional dilution or revenue sharing.
About the current approved indication: think about how many people ar born yearly in the US (or EU), about the prevalence of the indication and till what age persons are (still) suitable for treatment. Also think about the under diagnosing percentage and I am sure you will figure out the maximum sustained revenuestream for this indication. So yes, in the longterm we will definetely need approved broader indications. For now: highly speculative, despite the one approved indication.
I am not a trader, but definetly not a person who invests and leaves the stock on the shelf for the years to come, keeping fingers crossed.
GL
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