Insmed Goes Full Steam Ahead With Bronchiectasis Candidate
Top-Line Phase II Data Impress For INS1007
Insmed shares got a 40% boost as the company announced plans to move into Phase III this year with its potential first-in-class candidate for the lung disease.
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Public Company Edition: There was just one initial public offering during the past two weeks, but another biotech-focused SPAC went public and Gingko Bioworks announced a high-value SPAC merger. Also, Insmed and Dynavax offerings led recent public company financings.
The cancer drug developer raised $55m. Also, Lyra raised $56m in the last of four biopharma IPOs in April, Biogen sold $3bn worth of debt, Oberland raised a $1.05bn fund and Praxis launched with more than $100m.
Two antibiotics from Pfizer and Shionogi are to be rolled out by the UK’s NHS in a pioneering subscription deal that hopes to encourage antibiotic R&D by delinking payment from volume of use.