Shares of Insmed Incorporated (NASDAQ: INSM), a pharmaceutical company, have risen sharply in trading today after the company announced the lifting of clinical hold by FDA on ARIKACE® in Cystic Fibrosis (CF) patients with Pseudomonas lung infections.
INSM shares rose to an intra-day high of $4.93 before shedding some of the gains. At last check, the stock was trading 72.59% higher at $4.66 on above average volume of 1.56 million.
Insmed today said that it reached an agreement with the FDA on a revised CF clinical trial population consisting of adult patients, who have chronic Pseudomonas lung infections and FEC-1% predicted between 25% and 75%.
Timothy Whitten, President and CEO of Insmed, said that INSM is leased that FDA has lifted the clinical hold on the ARIKACE studies in both CF and as previously disclosed, in patients with NTM lung disease. Whitten said that INSM believes ARIKACE has the potential to be an important treatment option for CF patients who have Pseudomonas lung infections, and patients who have lung infections due to NTM.
Recent Comments