Biopharmaceutical company Insmed Incorporated has announced that its shareholders have approved a one-for-ten reverse stock split and the conversion of its Series B preferred stock into common stock. Insmed acquired Transave and its Arikace inhaled liposomal amikacin in December 2010.
The company is developing Arikace for the treatment of Pseudomonas aeruginosa infections in cystic fibrosis and bronchiectasis patients and for the treatment of nontuberculosis mycobacteria lung infections. Phase 2 trials for all three indications have been completed, and the company is beginning its first Phase 3 study. The drug is delivered using PARI’s eFlow nebulizer system.
Read the company’s press release.
