Insmed’s ‘win streak’ ends as top drug fails study in chronic nasal condition

Core Insights - Insmed's recent clinical trial for brensocatib faced setbacks, leading to a significant drop in share price, which fell nearly 17% to around $165 after the announcement of the failed trial [3][7] - Despite the setback, analysts believe it should not drastically alter the overall positive narrative surrounding the company, with expectations for continued sales growth from Brinsupri and other products [4][5] Company Performance - Insmed had previously reported promising results for brensocatib in bronchiectasis, receiving approval in August 2025 and exceeding analyst sales estimates for the third quarter [3] - The company’s stock had seen a substantial increase, rising from approximately $25 a year and a half ago to above $200 recently [7] Clinical Trials and Research - The Phase 2b study aimed to expand the use of brensocatib to treat chronic rhinosinusitis without nasal polyps but yielded no benefits from the tested doses [5][7] - Insmed announced a new acquisition of a monoclonal antibody, INS1148, which is set to enter Phase 2 research targeting respiratory and immunological diseases, with initial tests planned for interstitial lung disease and moderate-to-severe asthma [6] Analyst Perspectives - RBC Capital Markets analyst Leonid Timashev expressed that while the recent trial results are disappointing, they do not fundamentally change the outlook for Insmed, projecting sales of nearly $700 million for Brinsupri next year [4] - The company is also exploring the potential for brensocatib to be used in treating hidradenitis suppurativa, indicating ongoing research and development efforts [4]