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Insmed's Brensocatib Achieves Positive Phase 3 Results, Shares Surge 155% on Tuesday

May 28, 2024, 12:04 PM

Insmed Inc. announced positive topline results from its Phase 3 ASPEN study of brensocatib in patients with non-cystic fibrosis bronchiectasis, a type of chronic lung disease. The study achieved its primary endpoint for both dosage strengths, demonstrating a statistically significant and clinically meaningful reduction in the frequency of respiratory symptoms, such as chronic cough. Following the announcement, Insmed's shares surged, more than doubling in premarket trading on Tuesday and peaking at a 155% increase, with a notable 132% rise. Analysts described the results as 'very statistically significant,' and the success of the trial has generated substantial interest among investors.