Insmed Catapults Nearly 40%, Leading A Biotech Rally

Insmed (INSM) stock surged 30% after reporting strong second-quarter sales for its new lung disease drug, Brinsupri, exceeding analyst expectations. The company also raised its full-year guidance for the drug's sales, contributing to a broader rally in the biotech sector. This positive performance helped Insmed lead a biotech rally, contrasting with other companies like Mirum which saw declines.