The Wedbush Analyst was Gregory Wade and he feels that a PH III trial will be needed per data reviewed.
Again, tell me someone HOW does he know? The PH II trial has insufficient data per Wedbush's review. HOW did they get to review the data?
Now if this actually occurs in the future, Wedbush is guilty of leaking info to the market.
"Wedbush's Gregory R. Wade has downgraded Insmed (INSM -10.9%) to Underperform, and cut his PT all the way to $7 from $18.
Wade states Wedbush's review of an Insmed Phase II study for its Arikace drug suggests "there will be insufficient data" for the FDA to approve using it to treat nontuberculous mycobacteria (NTM) lung infections. The firm now thinks a Phase III study will be needed, something it doesn't believe is priced into shares."
The Phase II was architected in coordination with the FDA as they were conversing weekly with Insmed regarding NTM. It is more than a little unlikely that the FDA would collaborate on endpoints and methods that were insufficient. It makes zero sense.