Data from a late-stage study shows that treatment with Insmed's (INSM) brensocatib reduced episodes of worsening disease symptoms in patients with bronchiectasis, a chronic lung condition.
Insmed stock catapulted Tuesday after the biotech company's experimental lung disease treatment succeeded in a final-phase study.
Analysts had said shares could more than double if the trial was a success, or fall by more than half if it failed. The drug brensocatib, treats a condition called bronchiectasis.