Insmed's phase IIb trial of treprostinil palmitil inhalation powder (TPIP) for pulmonary arterial hypertension delivered a significant 35% placebo-adjusted reduction in pulmonary vascular resistance, surpassing endpoints and threatening existing therapies. The data led to an approximately 28% share price jump. However, challenges emerged as Recursion Pharmaceuticals announced a 20% workforce reduction amid pipeline cuts, highlighting volatility in the biotech workforce alongside breakthroughs.