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Insmed Announces Financial Results For Second Quarter And Six-months Ended June 30, 2012
Date:8/7/2012

848  Short-term investments44,56061,424  Accounts receivable-757  Prepaid expenses and other current assets715370Total current assets73,85077,399Certificate of deposit 2,1112,085In-process research and development58,20058,200Other133212Fixed assets, net1,7581,937Total assets$
36,052$
39,833Liabilities and stockholders' equityCurrent liabilities:  Accounts payable $
3,198$
2,334  Accrued expenses1,882800  Accrued compensation849795  Accrued lease expense, current288278  Deferred rent152156  Capital lease obligations, current117114Total current liabilities6,4864,477Accrued lease expense, long-term784923Capital lease obligations, long-term101166Debt, long-term8,965-Total liabilities16,3365,566Stockholders' equity:Common stock; $.01 par value; authorized shares500,000,000; issued and outstanding shares,

24,874,852
in 2012 and 24,833,301 in 2011249248  Additional paid-in capital429,545427,743  Accumulated deficit(310,714)(294,174)  Accumulated other comprehensive income:Unrealized gain on investments636450Total stockholders' equity119,716134,267Total liabilities and stockholders' equity $
36,052$
39,833 INSMED INCORPORATEDConsolidated Statements of Comprehensive Operations (Unaudited)(in thousands, except per share data) Three Months Ended  Six Months Ended June 30,June 30,2012201120122011License fees

$
-$$
-$
251Other expanded access program income, net

-977-2,328Total revenues

-978-2,579Operating expenses:Research and development

7,5278,70612,01414,467General and administrative

2,4562,7455,2336,002Total operating expenses

9,98311,45117,24720,469Operating loss

(9,983)(10,473)(17,247)(17,890)Investment income

290459708987Interest expense

(1)(3)(3)(7)Gain on sale of asset, net

--5-Loss before income taxes

(9,694)(10,017)(16,537)(16,910)Income tax expense


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SOURCE Insmed Incorporated
Copyright©2012 PR Newswire.
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