Insmed stock doubles on positive ASPEN study results

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 $INSM 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 $INSM’s ASPEN study results

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

$INSM 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:

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