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Insmed's Brensocatib Achieves Positive Late-Stage Results, Shares Surge 155%, Peaking at +132%
May 28, 2024, 10:39 AM
Insmed announced that its experimental drug, brensocatib, achieved positive topline results in the Phase 3 ASPEN study for treating bronchiectasis. The study met its primary endpoint for both dosage strengths, showing a statistically significant and clinically meaningful reduction in the frequency of respiratory symptoms such as chronic cough. As a result, Insmed's shares surged by 155% in pre-market trading, with a peak increase of 132%. Analysts from Truist project peak unadjusted sales of approximately $4 billion for brensocatib in bronchiectasis, with a potential fair value of around $74 per share. The success of this late-stage study marks a significant milestone for Insmed, positioning brensocatib as a promising treatment for chronic lung diseases.
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