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

2,939 2,135 11,699 7,581 Operating expenses: Cost of goods sold - - - 576 Research and development 5,353 4,614 21,047 19,198 Selling, general and administrative 1,324 865 5,063 8,246 Total expenses 6,677 5,479 26,110 28,020 Operating loss (3,738) (3,344) (14,411) (20,439) Interest income 47 264 500 1,159 Interest expense (273) (217) (1,256) (682) Loss on investments - - (500) - Net loss $(3,964) $(3,297) $(15,667) $(19,962) Basic and diluted net loss per share $(0.03) $(0.03) $(0.13) $(0.17) Shares used in computing Basic and diluted net loss per share 122,318 121,812 122,132 114,682

                             INSMED INCORPORATED
                   Consolidated Statements of Cash Flows
                        (in thousands - unaudited)

                                                     Twelve Months Ended
                                                        December 31,
                                                     2008           2007
     Operating activities
     Net loss                                    $(15,667)      $(19,962)
     Adjustments to reconcile net loss
      to net cash used in operating
      activities:
        Depreciation and amortization               1,043            406
        Stock based compensation expense              850            521
        Stock options issued for services             147             38
        Realized loss on investments                  500              -
        Changes in operating ass
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SOURCE Insmed Inc.
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