Insmed (NASDAQ:INSM) stock is rising higher on Tuesday after the company announced positive results from a Phase 3 clinical trial of brensocatib in patients with non-cystic fibrosis bronchiectasis.
This saw brensocatib reach its primary endpoint of statistically significant reductions in the annualized rate of pulmonary exacerbations (PEs) versus placebo. In addition to that, the study also met several of its secondary endpoints.
James Chalmers, MBChB, Ph.D., Professor and Consultant Respiratory Physician at the School of Medicine, University of Dundee, UK, said this about the study results:
“Today, there is no approved treatment for bronchiectasis and there remains an urgent need for a therapy that can reduce exacerbations. As a DPP1 inhibitor, brensocatib would be the first treatment in its class and could offer a completely new approach to managing this difficult-to-treat patient population, heralding a new era in clinical management of bronchiectasis.”
What This Means for INSM Stock
With this study data, Insmed is moving forward with plans for a New Drug Application (NDA) for brensocatib. It plans to submit this to the Food and Drug Administration (FDA) in the first quarter of 2024.
That should see the drug’s commercial launch happen sometime in mid-2025. Following that, it will be released in Europe and Japan in 2026.
All of this is great news for INSM stock and brings with it heavy trading this morning. That has more than 4.1 million shares traded as of this writing. This is well above its daily average of about 1.8 million shares.
INSM stock is up 133.6% as of Tuesday morning.
Below are more stock market stories worth reading about today!
We have all of the hottest stock market news for Tuesday! Among that is what has shares of Sharps Technology (NASDAQ:STSS) stock and XPeng (NYSE:XPEV) on the move, as well as the biggest pre-market stock movers. All of this new sis ready to go at the following links!
More Stock Market News for Tuesday
- Why Is Sharps Technology (STSS) Stock Up 194% Today?
- Trade of the Day: Bet That XPeng (XPEV) Stock Can Outlast Its Rivals
- Today’s Biggest Pre-Market Stock Movers: 10 Top Gainers and Losers on Tuesday
On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
