After an announcement that the U.S. Food and Drug Administration ruled to allow the company to continue testing its antibiotic drug Arikace for the treatment of cystic fibrosis patients with pseudomonas lung infections, shares of Insmed Inc. (INSM - NasdaqCM) sky-rocketed higher today, holding onto a 59% gain into early afternoon trading. During August 2011, FDA temporarily halted testing of the drug, stating it needed more safety information on the product. Insmed was given the green light by the FDA in January for testing of Arikace in the treatment of lung infections caused by non-tuberculous mycobacteria, or NTM. Arikace is an inhaled formulation of the antibiotic amikacin.
Tuesday, May 8, 2012
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