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

current liabilities 4,877 3,682 Long-term liabilities: Convertible debt 553 2,764 Debt discount (66) (651) Net long-term convertible debt 487 2,113 Asset retirement obligation 2,217 2,217 Total liabilities 7,581 8,012 Stockholders' equity (deficit): Common stock; $.01 par value; authorized shares 500,000,000; issued and outstanding shares, 122,494,010 in 2008 and 121,904,312 in 2007 1,225 1,219 Additional paid-in capital 342,378 341,270 Accumulated deficit (346,426) (330,759) Accumulated other comprehensive loss: Unrealized loss on investment - (242) Net stockholders' equity (deficit) (2,823) 11,488 Total liabilities and stockholders' equity (deficit) $4,758 $19,500

                              INSMED INCORPORATED
                   Consolidated Statements of Operations
              (in thousands, except per share data - unaudited)

                               Three Months Ended         Twelve Months Ended
                                   December 31,               December 31,
                               2008          2007         2008          2007

    Sales, net                   $-            $-           $-          $423
    Royalties                    61            41          144           121
    License income                -            62            -         1,607
    Grant revenue                 -             -        1,044             -
    Other expanded access
     Program income, net      2,878         2,032       10,511         5,430
      Total revenues  
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SOURCE Insmed Inc.
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