Insmed Reports Resignation of Chief Commercial Officer J. Drayton Wise


Insmed Incorporated (Nasdaq: INSM) announced that J. Drayton Wise has resigned from his position as Chief Commercial Officer, effective immediately. His departure was attributed to personal and medical reasons and was not connected to the company’s financial condition, operations, or any internal disagreements.

Following his resignation, Mr. Wise has entered into a consulting agreement with Insmed. Under the terms of this agreement, he will remain available to the company through the end of the year, with automatic three-month extensions possible unless terminated by mutual agreement. He will receive a consulting fee of $30,000 per month during the initial consulting period and $20,000 per month during any extensions.

Additionally, Mr. Wise’s outstanding equity awards will continue to vest while the consulting relationship is active. Vested stock options will remain exercisable until three months after the end of his service or until their original expiration date, whichever comes first.

No successor to the Chief Commercial Officer role has been named.