Brinsupri setback slices Insmed market cap — Clinical Report

Much of the momentum that has lifted the valuation of Insmed Inc. (NASDAQ:INSM) over the past two years has been tied to its pipeline-in-a-product aspirations for Brinsupri brensocatib. But a readout for the DPP1 inhibitor this week in rhinosinusitis sent its shares in the other direction on Thursday, shaving billions from its market cap.

Insmed said late Thursday that both of the study’s doses of Brinsupri missed the primary and secondary efficacy endpoints in the Phase IIb BiRCh study to treat chronic rhinosinusitis without nasal polyps. The biotech has discontinued the program in that indication...