Insmed Incorporated (NASDAQ:INSM) shares jumped 18% to $26.62 after the biopharmaceutical company revealed that nearly 44% of patients with nontuberculous mycobacterial (NTM) lung infection in its Phase 3 ARISE study saw an improvement in respiratory symptoms after receiving its Arikayce antibiotic treatment compared with about 33% who received a placebo.
Insmed also noted that more Arikayce-treated patients tested negative for the bacteria after seven months of treatment than did the placebo recipients.
"Coupled with extraordinary culture conversion outcomes, these findings give us great confidence that our Phase 3 registrational trial, ENCORE, is well-positioned to achieve both statistically and clinically meaningful results, leading to a sizeable increase in the number of patients who could hope to benefit from Arikayce" Insmed chief medical officer Martina Flammer said in a statement.
The company added that NTM causes rare lung infections most likely to impact people with a weak immune system or underlying lung condition.
Based on the results of ARISE, Insmed also stated that it plans to explore with global regulators accelerating the filing for approval of Arikayce in newly infected patients with Mycobacterium avium complex (MAC) lung disease.
Shares of Insmed have gained 38% year to date while hitting a 52-week high today.
Contact Sean at sean@proactiveinvestors.com