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Insmed Announces Fourth Quarter and Full-Year 2008 Financial Results
Date:3/11/2009

elease or to reflect the occurrence of unanticipated events.

                                  INSMED INCORPORATED
                             Consolidated Balance Sheets
                    (in thousands, except share and per share data)

                                           December 31,    December 31,
                                               2008            2007

    Assets
    Current assets:
      Cash, cash equivalents and
       short-term investments                $2,397         $16,479
      Accounts receivable, net                  122             250
      Prepaid expenses                           74             244
      Total current assets                    2,593          16,973

    Long-term assets:
      Restricted cash - long term             2,095           2,095
      Investments                                 -             258
      Deferred financing costs, net              70             170
      Property and equipment, net                 -               4
      Total long-term assets                  2,165           2,527

    Total assets                             $4,758         $19,500

    Liabilities and stockholders'
     equity (deficit)
    Current liabilities:
      Accounts payable                       $1,277            $904
      Accrued project costs & other             936             503
      Payroll liabilities                       453             631
      Restricted stock unit liability           113               -
      Interest payable                           13              23
      Deferred rent                             168             115
      Deferred income                           302             245

      Convertible debt                        2,211           2,211
      Debt discount                            (596)           (950)
         Net convertible debt                 1,615           1,261

      Total
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SOURCE Insmed Inc.
Copyright©2009 PR Newswire.
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