RICHMOND, Va., March 25 /PRNewswire-FirstCall/ -- Insmed Inc. (Nasdaq: INSM), a developer of follow-on biologics (FOB) and biopharmaceuticals, today announced that on Monday, March 23, 2009, NASDAQ issued a notice further extending the suspension of the rules requiring a minimum $1 closing bid price and those rules requiring a minimum market value of publicly held shares (MVPHS). The suspension will remain in effect through Friday, July 17, 2009, and the original rules will be reinstated on Monday, July 20, 2009. Based on NASDAQ's previous extension notice of the suspension of these rules on Friday, December 19, 2008, the original rules were due to be reinstated on Monday, April 20, 2009.
Insmed Inc. is a biopharmaceutical company with unique protein process development and manufacturing experience and a proprietary protein platform aimed at niche markets with unmet medical needs. For more information, please visit www.insmed.com.
This release contains forward-looking statements which are made pursuant to provisions of Section 21E of the Securities Exchange Act of 1934. Investors are cautioned that such statements in this release, including statements relating to planned clinical study design, regulatory and business strategies, plans and objectives of management and growth opportunities for existing or proposed products, constitute forward-looking statements which involve risks and uncertainties that could cause actual results to differ materially from those anticipated by the forward-looking statements. The risks and uncertainties include, without limitation, risks that closing conditions under our agreement with Merck & Co., Inc. may not be met, product candidates may fail in the clinic or may not be s
|SOURCE Insmed Inc.|
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