INSM - Insmed stock doubles on positive ASPEN study results

2024-05-28 07:08:55 ET

Shares of Insmed Inc (NASDAQ: INSM) more than doubled on Tuesday after the biopharmaceutical firm reported positive results for its ASPEN study.

Insmed stock soars on topline results from ASPEN study

The Phase 3 trial evaluated “efficacy, safety, and tolerability of brensocatib” as a treatment for non-cystic fibrosis bronchiectasis.

The study met not just its primary endpoint but a bunch of “prespecified secondary endpoints” as well with statistical significant, as per the press release on Tuesday.

The news arrives a couple weeks after reported its financial results for the first quarter that topped Street estimates.

Insmed stock is now up close to 200% versus its 52-week low on May 30 ^th , 2023.

CMO Flammer’s remarks on ASPEN study results

Brensocatib helped significantly reduce the annualised rate of PEs (pulmonary exacerbations) compared to placebo in the ASPEN study.

now plans on filing an NDA with the U.S. regulator for brensocatib for bronchiectasis in the final quarter of this year. Martina Flammer – the chief medical officer of Insmed Inc said in a press release today:

These findings not only underscore brensocatib has potential to transform treatment landscape for bronchiectasis, but also further validate DPP1 inhibition as a mechanism that may hold promise in other neutrophil-mediated diseases.

Wall Street currently has a consensus “buy” rating on Insmed stock that does not pay a dividend at writing.

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