Insmed surges after Q2 revenue beat
INSM•Insmed rises after Q2 revenue beat and Brinsupri outlook increase
Shares of drugmaker Insmed INSM.O rise 21% to $119.99 premarket.
The company's Q2 revenue of $425.5 million beats analysts' average expectation of $392.8 million, according to LSEG data.
Insmed expects annual revenue of $1.25 billion to $1.40 billion for its lung disease treatment Brinsupri, compared with its previous expectation of at least $1 billion.
The drugmaker reports Q2 sales of $309.2 million for Brinsupri, beating analysts' average expectation of $274.1 million.
Up to the last close, the stock was down 43.1% year to date.
