Insmed Inc. (NASDAQ: INSM) is one of the few biotechs not tied to the coronavirus that is making a big move to start out the week. Essentially, the firm reported midstage study results for patients with non-cystic fibrosis bronchiectasis.
The results come from the Phase 2 Willow study evaluating the efficacy, safety and pharmacokinetics of INS1007 administered once daily. Ultimately, the Willow study met its primary endpoint of time to first pulmonary exacerbation over the 24-week treatment period for both dosage groups of INS1007 compared to placebo.
Also, the treatment resulted in a reduction in the frequency of pulmonary exacerbations, a key secondary endpoint, versus placebo.
Overall, patients treated in the study experienced a 36% reduction in these exacerbations in the 10 mg arm and a 25% reduction in the 25 mg arm.
Non-cystic fibrosis bronchiectasis is a severe, chronic pulmonary disorder in which the bronchi become permanently dilated due to a cycle of infection, inflammation and lung tissue damage. The condition is marked by frequent pulmonary exacerbations requiring antibiotic therapy or hospitalizations. It affects approximately 340,000 to 520,000 patients in United States annually.
James Chalmers, MBChB, Ph.D., professor and Consultant Respiratory Physician at the School of Medicine, University of Dundee, United Kingdom, commented:
These results are incredibly encouraging and highlight the potentially important role INS1007 may play in the management of bronchiectasis. Today, many bronchiectasis patients suffer from persistent symptoms and frequent exacerbations, with no pharmaceutical therapies available that are approved to help them manage this disease. There is an urgent need for approved, effective therapies that can break the vicious cycle of inflammation, lung damage, and infection for these patients.
Shares of Insmed traded up over 33% on Monday to $27.40, in a 52-week range of $15.33 to $33.13. The consensus price target is $42.56.
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