Insmed Inc. shares more than doubled after the company’s experimental drug reduced episodes of worsening symptoms in a final-stage study of patients with a rare lung condition.
Patients with bronchiectasis who received Insmed’s brensocatib had fewer exacerbations than those who got a placebo in the yearlong study, New Jersey-based Insmed said Tuesday in a statement. The company plans to file for US market clearance in the final quarter of the year and launch the drug in mid-2025.
The findings are a “home run scenario,” JPMorgan analyst Jessica Fye said in a note. “We see these results transforming the company and unlocking a key driver of value