RICHMOND, Va., March 18 /PRNewswire-FirstCall/ -- Pursuant to NASDAQ Marketplace Rule 4350(b)(1)(B) (the "NASDAQ Rule") any Company whose securities are listed on one of the NASDAQ stock exchanges that receives a going concern audit opinion in one of its filings with the Securities and Exchange Commission is required to disseminate this information to the public. In compliance with this NASDAQ Rule, Insmed Incorporated (Nasdaq: INSM), today announced that it has received a going concern audit opinion for its financial statements dated as of December 31, 2007, and filed as part of its Annual Report on Form 10-K with the Securities and Exchange Commission. This going concern audit opinion was given because the Company's ability to continue as a going concern is dependent upon its ability to raise capital through securities offerings, debt financing and partnership agreements to fund on-going operations.
Insmed Inc. is a biopharmaceutical company with unique protein process development and manufacturing experience and a proprietary protein platform aimed at niche markets with unmet medical needs. For more information, please visit http://www.insmed.com.
This release contains forward-looking statements which are made
pursuant to provisions of Section 21E of the Securities Exchange Act of
1934. Investors are cautioned that such statements in this release,
including statements relating to planned clinical study design, regulatory
and business strategies, plans and objectives of management and growth
opportunities for existing or proposed products, constitute forward-looking
statements which involve risks and uncertainties that could cause actual
results to differ materially from those anticipated by the forward-looking
statements. The risks and uncertainties include, without limitation, risks
that product candidates may fail in the clinic or may not
|SOURCE Insmed Inc.|
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