WASHINGTON (dpa-AFX) - Insmed Incorporated (INSM) shares surged $32.83, or 33.16 percent, to $131.85 on Thursday, after the biopharmaceutical company reported a sharply narrower second-quarter loss, strong product revenue growth, and raised its full-year outlook for Brinsupri.
The stock opened at $128.22 and traded between $126.48 and $137.70 during the session on the Nasdaq. It has traded in a 52-week range of $90.39 to $212.75. Trading volume reached 5.66 million shares, compared with an average daily volume of 4.02 million shares.
Second-quarter net loss narrowed to $13.24 million, or $0.06 per share, from $321.69 million, or $1.70 per share, a year earlier. Net product revenue nearly quadrupled to $425.49 million from $107.42 million, driven by Brinsupri revenue of $309.2 million, up 49 percent sequentially, and Arikayce revenue of $116.3 million, up 8 percent year over year. The company raised its 2026 Brinsupri revenue guidance to $1.25 billion to $1.40 billion while reaffirming Arikayce guidance of $450 million to $470 million.
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