Shares of Insmed rose after the biopharmaceutical company raised its full-year revenue guidance for its products as its second-quarter loss narrowed and revenue jumped.

The stock was 34% to $132.91 in recent trading, but has fallen 24% since the start of the year.

The company posted a net loss of $13.2 million, or six cents a share, compared with a loss of $321.7 million, or $1.70 a share, a year earlier.

Revenue nearly quadrupled to $425.5 million. Analysts polled by FactSet expected $393.7 million.

Chief Executive Will Lewis said the U.S. Brinsupri launch has been met with significant enthusiasm and the company reported positive data from its ongoing open-label extension study of TPIP in PAH.

The company raised its fiscal 2026 Brinsupri guidance to between $1.25 billion and $1.4 billion from its previous guidance of at least $1 billion. The company also raised its peak revenue estimate for TPIP to more than $6 billion.