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Insmed Announces Fourth Quarter and Full-Year 2007 Financial Results

ccess program

income 2,039 140 5,378 571

Total revenues 2,142 502 7,529 991

Operating expenses:

Cost of goods sold - 836 576 1,490

Asset impairment - 7,103 - 7,103

Research and development 4,539 4,251 18,937 21,089

Selling, general and

administrative 947 9,716 8,455 25,682

Total expenses 5,486 21,906 27,968 55,364

Operating loss (3,344) (21,404) (20,439) (54,373)

Interest income 264 528 1,159 1,937

Interest expense (217) (552) (682) (3,703)

Net loss $ (3,297) $ (21,428) $ (19,962) $ (56,139)

Basic and diluted net loss

per share $ (0.03) $ (0.21) $ (0.17) $ (0.59)

Shares used in computing basic

and diluted net loss per

share 121,812 100,634 114,682 95,321


Consolidated Statements of Cash Flows

(in thousands - unaudited)

Twelve Months Ended

December 31,

2007 2006

Operating activities

Net loss $ (19,962) $ (56,139)

Adjustments to reconcile net loss to net cash

used in operating activities:

Depreciation and amortization 406 3,369

Non-cash stock acceleration

Stock based compensation expense 521 88

SOURCE Insmed Inc.
Copyright©2008 PR Newswire.
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