12:25 PM EDT, 06/10/2025 (MT Newswires) -- (Updates with latest stock move and analyst commentary.)

Insmed (INSM) shares rose past 27% in recent Tuesday trading after the company said its phase 2b study evaluating treprostinil palmitil inhalation powder in patients with pulmonary arterial hypertension, or PAH, met its primary endpoint and all secondary efficacy endpoints.

Shares of the company's rivals United Therapeutics ( UTHR ) and Liquidia Corporation ( LQDA ) , were down 14.8% and 18%, respectively, in recent trading.

Insmed said it will "immediately" engage with the US Food and Drug Administration for a phase 3 trial design.

According to the company, the study met its primary endpoint of a 35% placebo-adjusted reduction from baseline in pulmonary vascular resistance. The study also achieved secondary efficacy endpoints of 35.5 meters in six-minute walk distance and 60% reduction from baseline in N-terminal pro b-type natriuretic peptide concentrations, a biomarker for cardiac stress.

The company said it targets to start the phase 3 trial in pulmonary arterial hypertension in early 2026 and a phase 3 trial in patients with pulmonary hypertension associated with interstitial lung disease before the end of 2025. Insmed also said its treprostinil palmitil inhalation powder was well tolerated in the study.

"We think treprostinil palmitil inhalation powder's safety/efficacy profile could differentiate it as the best-in-class prostanoid for PAH patients, which are administered 4 to 6 times a day," analysts at Truist Securities said in a note.

Price: 90.33, Change: +19.65, Percent Change: +27.79