FDA: Ph III needed before Arikayce NDA; Insmed plummets

Shares of Insmed plunged 27% on 4 August after it disclosed the FDA said Phase III data would be needed to support a new drug application (NDA) for Arikayce (liposomal amikacin for inhalation), formerly known as Arikace, as a treatment for nontuberculous mycobacteria (NTM) lung infections, declaring the firm's single Phase II trial was not sufficient for an accelerated approval – especially since it missed its primary endpoint.

Shares of Insmed closed at $12.66, a loss of $4.49, or 26.6%.