TPIP PAH OLE: Effect Sustained, Convenience Edge Reinforced

研报英文原文证据摘录

TPIP PAH OLE: Effect Sustained, Convenience Edge Reinforced

Update

July 16, 2026 02:10 PM GMT

Morgan Stanley & Co. LLCMInsmed Inc | North America Maxwell Skor

Equity Analyst

TPIP PAH OLE: Effect Sustained, Maxwell.Skor@morganstanley.comSelena Zhang +1 212 761-4804

Research Associate

Selena.Zhang1@morganstanley.com +1 212 761-1017

Convenience Edge Reinforced

Insmed Inc (INSM.O, INSM US)

Biotechnology | United States of America

Key Takeaways Stock Rating Overweight

Industry View Attractive

TPIP PAH OLE data showed improvement across all secondary efficacy measures Price target $212.00

including reduction in mortality risk status by REVEAL Lite 2.0. Shr price, close (Jul 15, 2026) $109.81

Mkt cap, curr (mm) $23,661

TPIP was safe and well-tolerated with no newly identified safety signals through 52-Week Range $212.75-90.39

month 12. Doses up to 1,280µg once daily were permitted in the OLE study.

Insmed announces TPIP PAH OLE data. Following positive topline Ph2b results in

patients with PAH last year (see note HERE), 12-month data demonstrated sustained

improvement with TPIP across all secondary efficacy measures including reduction

in mortality risk status by REVEAL Lite 2.0, with no newly identified safety signals

(press release, presentation). Questions on the call focused on dose response,

where mgt. emphasized that prostanoids are administered with an individually

maximum tolerated dose, with the higher dose giving physicians the option to

increase the dose to achieve the best possible outcome for the patient. Mgt. noted

that 24-month data are expected approximately this time next year and that Ph3

enrollment is progressing ahead of schedule. We expect investor attention to stay

on the Brinsupri launch (see our recent tracker HERE), though we see INSM