Here's Why Insmed Incorporated Is Skyrocketing
Investors in Insmed (NASDAQ: INSM) are having an incredible start to the short trading week. Shares of the rare disease focused biotech are up 110% as of 11:15 a.m. EDT, after the company announced upbeat top-line results from its phase 3 Convert trial.
The Convert trial was designed to measure the effect of adding Insmed's drug Amikacin Liposome Inhalation Suspension (ALIS) to guideline-based therapy (GBT) in patients who have treatment-refractory nontuberculous mycobacterial (NTM) lung disease caused by mycobacterium avium complex.
Data from the 336-patient trial showed that ALIS was able to meet its primary endpoint. Specifically, the study showed that adding ALIS to guideline-based therapy eliminated evidence of NTM lung disease by month 6 in 29% of patients. That was a statistically significant increase when compared to the 9% of patients who received GBT alone.
Source: Fool.com
Insmed Inc. Stock
Insmed Inc. is currently one of the favorites of our community with 17 Buy predictions and no Sell predictions.
With a target price of 44 € there is a hugely positive potential of 88.03% for Insmed Inc. compared to the current price of 23.4 €.
