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Insmed Announces Financial Results for Second Quarter and Six-Months Ended June 30, 2008
Date:8/8/2008

- - - 576

Research and development 5,536 3,691 10,777 9,796

Selling, general and

administrative 1,493 1,153 2,975 6,535

Loss on investments 54 - 446 -

Total expenses 7,083 4,844 14,198 16,907

Operating loss (4,435) (2,569) (9,233) (12,972)

Interest income 96 224 375 525

Interest expense (328) (155) (682) (306)

Net loss $(4,667) $(2,500) $(9,540) $(12,753)

Basic and diluted net loss

per share $(0.04) $(0.02) $(0.08) $(0.12)

Shares used in computing

basic and diluted net loss

per share 121,989 113,577 121,989 107,486

INSMED INCORPORATED

Consolidated Statements of Cash Flows

(in thousands - unaudited)

Six Months Ended

June 30,

2008 2007

Operating activities

Net loss $(9,540) $(12,753)

Adjustments to reconcile net loss to net cash

used in operating activities:

Depreciation and amortization 562 168

Stock based compensation expense 298 129

Stock options issued for services 140 39

Realized loss on investments 446 -

Changes in operating assets and liabilities:

Accounts receivable 200 241

Invent
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SOURCE Insmed Inc.
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