Insmed Stock (NASDAQ: INSM) Slides on Brensocatib Sinus-Trial Failure; Analysts Reset Forecasts
Insmed shares fell 16% Thursday after the company said its Phase 2b trial of brensocatib in chronic rhinosinusitis without nasal polyps failed to meet endpoints, prompting it to end development for that indication. The drug’s performance matched or trailed placebo on symptom scores. Insmed reported no new safety issues. The stock traded near $166.75 after hitting a low of $158.06.