Shares of Insmed Incorporated (INSM) gained over 27% on Tuesday morning after the biopharmaceutical company announced positive topline results from phase 2b study of Treprostinil Palmitil Inhalation Powder (TPIP) as once-daily therapy in patients with pulmonary arterial hypertension.
INSM is currently trading at $89.99, up $19.31 or 27.32%, on the Nasdaq. The stock opened its trading at $88.64 after closing Monday at $70.68. The stock has traded between $57.92 and $91.86 on the past 52-week period.
Insmed announced positive topline results from its Phase 2b study evaluating the efficacy and safety of treprostinil palmitil inhalation powder (TPIP), administered once daily in patients with pulmonary arterial hypertension.
The study met its primary endpoint and all secondary efficacy endpoints. For the primary endpoint, the placebo-adjusted reduction from baseline in pulmonary vascular resistance (PVR) was 35% with Least Squares (LS) mean ratio of 0.65.
For the secondary efficacy endpoints, the placebo-adjusted improvement in six-minute walk distance was 35.5 meters and the placebo-adjusted reduction from baseline in N-terminal pro b-type natriuretic peptide (NT-proBNP) concentrations, a biomarker for cardiac stress, was 60% with LS mean ratio of 0.40.
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