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Insmed Announces First Quarter 2008 Financial Results
Date:5/8/2008

speak only as of the date of this release. We undertake no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events.

Investor Relations Contact:

Brian Ritchie - FD

212-850-5683

brian.ritchie@fd.com

Corporate Communications Contact:

John Procter - Gibraltar Associates

202-879-5808

jprocter@gibraltar-llc.com

INSMED INCORPORATED

Consolidated Balance Sheets

(in thousands, except share and per share data)

(unaudited)

March 31, December 31,

2008 2007

Assets

Current assets:

Cash, cash equivalents and short-term

investments $12,030 $16,479

Accounts receivable, net 327 250

Prepaid expenses 110 244

Total current assets 12,467 16,973

Long-term assets:

Restricted cash - long term 2,095 2,095

Investments 108 258

Deferred financing costs, net 142 170

Property and equipment, net - 4

Total long-term assets 2,345 2,527

Total assets $14,812 $19,500

Liabilities and stockholders' equity

Current liabilities:

Accounts payable $804 $904

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SOURCE Insmed Inc.
Copyright©2008 PR Newswire.
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