Navigation Links
Insmed Announces That NASDAQ Temporarily Suspends Minimum Bid Closing Price Rule
Date:10/21/2008

Company Postpones Special Meeting of Shareholders until further notice

RICHMOND, Va., Oct. 21 /PRNewswire-FirstCall/ -- Insmed Inc. (Nasdaq: INSM), a developer of follow-on biologics and biopharmaceuticals, today announced that on Thursday, October 16, 2008 NASDAQ issued a notice that:

-- Effective immediately, NASDAQ has suspended the enforcement of the rules

requiring a minimum $1.00 closing bid price.

-- Effective immediately, NASDAQ has also suspended the enforcement of the

rules requiring a minimum market value of publicly held shares (MVPHS).

-- NASDAQ will not take any action to delist any security for these

concerns during the suspension.

-- The suspension will remain in effect through Friday, January 16, 2009

and the original rules will be reinstated on Tuesday, January 20, 2009.

Prior to the suspension, Insmed had been given until December 15, 2008 to evidence a closing bid price of $1.00 or more for a minimum of 10 consecutive business days to remain listed on The NASDAQ Stock Market.

As a result of the rules suspension the Special Meeting of Shareholders, planned for November 24, 2008 to seek shareholder approval of a reverse split, should the Company need it, has been postponed until further notice.

Insmed will provide further information as it becomes available from NASDAQ.

About Insmed

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 http://www.insmed.com

Forward-Looking Statements

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, strategic alternatives, 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 strategic alternatives may never be consummated, product candidates may fail in the clinic or may not be successfully marketed or manufactured, we may lack financial resources to complete development of product candidates, the FDA may interpret the results of studies differently than us, competing products may be more successful, demand for new pharmaceutical products may decrease, the biopharmaceutical industry may experience negative market trends, our entrance into the follow-on biologics market may be unsuccessful, we may be unable to secure an appropriate business partner for our follow-on biologics business, our common stock could be delisted from The NASDAQ Capital Market and other risks and challenges detailed in the Company's filings with the U.S. Securities and Exchange Commission, including the Company's Annual Report on Form 10-K for the year ended December 31, 2007. Readers are cautioned not to place undue reliance on any forward-looking statements which speak only as of the date of this release. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements that may be made to reflect events or circumstances that occur after the date of this release or to reflect the occurrence of unanticipated events.

Common Stock

Investor Relations Contact:

Brian Ritchie - FD

212-850-5683

brian.ritchie@fd.com

Corporate Communications Contact:

John Procter - Gibraltar Associates

202-879-5808

jprocter@gibraltar-llc.com


'/>"/>
SOURCE Insmed Inc.
Copyright©2008 PR Newswire.
All rights reserved

Related biology technology :

1. Insmed to Seek Shareholder Approval for Reverse Split
2. Insmed and Premacure Cite Study Results Demonstrating Potential Effectiveness of IPLEX(TM) in Preventing Blindness in Premature Infants
3. Insmed to Present at Biosimilars 2008 Conference
4. Insmed to Present at BioPharm Asia 2008 Conference
5. Insmed Announces Financial Results for Second Quarter and Six-Months Ended June 30, 2008
6. Insmed CEO to Present at Drug Discovery & Development Conference
7. Insmed to Host Second Quarter 2008 Conference Call
8. Insmed Partners With Bill Thomas, Former House Ways and Means Chairman, as Strategic Advisor
9. Insmed Retains RBC Capital Markets as Strategic Financial Advisor
10. Insmed to Present at Collins Stewart Fourth Annual Growth Conference
11. Insmed to Request Hearing Before NASDAQ Panel to Review NASDAQ Staff Determination
Post Your Comments:
*Name:
*Comment:
*Email:
(Date:5/24/2017)... , ... May 23, 2017 , ... Federal funding for ... as an enabler of life-saving medical and other vital technologies — deserves continued support, ... joined others in the scientific community today in responding to the President’s budget request ...
(Date:5/23/2017)... ... May 23, 2017 , ... ... cardiovascular cells for research and the development of cardiac regeneration therapies. The ... large numbers of cardiomyocytes (hPSC-CMs). Due to varying differentiation efficiencies, further enrichment ...
(Date:5/23/2017)... ... May 23, 2017 , ... Energetiq Technology, a ... a facility expansion to accommodate its rapid growth. , The renovations at the ... renovation of the existing areas. The expansion includes, a state-of-the-art engineering facility, and ...
(Date:5/22/2017)... , ... May 22, 2017 , ... Stratevi, a boutique ... to the East Coast. It has opened an office in downtown Boston at 745 ... finding it increasingly more important to generate evidence on the value they provide, not ...
Breaking Biology Technology:
(Date:4/3/2017)... WASHINGTON , April 3, 2017 /PRNewswire-USNewswire/ ... single-cell precision engineering platform, detected a statistically ... cell product prior to treatment and objective ... highlight the potential to predict whether cancer ... prior to treatment, as well as to ...
(Date:3/30/2017)... NEW YORK , March 30, 2017 ... by type (physiological and behavioral), by technology (fingerprint, AFIS, ... recognition, voice recognition, and others), by end use industry ... travel and immigration, financial and banking, and others), and ... Europe , Asia Pacific ...
(Date:3/27/2017)... ROCKVILLE CENTRE, N.Y. , March 27, 2017 ... by Healthcare Information and Management Systems Society (HIMSS) ... Analytics Outpatient EMR Adoption Model sm . In ... top 12% of U.S. hospitals using an electronic ... recognized CHS for its high level of EMR ...
Breaking Biology News(10 mins):