Shares of (NASDAQ: INSM) were soaring 17.1% higher as of 11:27 a.m. ET on Tuesday. The big gain came after the company announced positive top-line results from its late-stage Arise clinical study evaluating the antibiotic drug Arikayce in treating patients with newly diagnosed or recurrent nontuberculous mycobacterial (NTM) lung infection caused by Mycobacterium avium complex (MAC) who had not yet been treated with antibiotics. MAC lung disease is rare but can cause severe lung damage and can be fatal.

Today's jump continued a steady rise for the biotech stock in recent months. Insmed's share price is now up more than 30% year to date.

Arikayce has already received accelerated approval from the U.S. Food and Drug Administration (FDA) for treating MAC lung disease. But that approval is for Arikayce in combination with other antibacterial drugs and only for adults with limited or no alternative treatment options. Insmed hopes to move beyond such a limited approval.

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Source Fool.com