Shares of Insmed (INSM) skyrocketed 14.21% in pre-market trading on Thursday, as investors reacted positively to the company's latest quarterly financial results.
The biopharmaceutical company reported second-quarter revenue of $425.5 million, handily beating the average analyst estimate of $392.8 million. The strong top-line performance overshadowed the fact that Insmed posted a net loss of $13.2 million, or a loss of $0.06 per share, for the period.
The significant revenue beat appears to be the primary driver behind the pre-market surge, with market participants focusing on the company's robust sales growth momentum.
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