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:10/11/2017)... ROTTERDAM, the Netherlands and LAGUNA HILLS, ... that The Institute of Cancer Research, London ... will use MMprofiler™ with SKY92, SkylineDx,s prognostic tool to risk-stratify ... high-risk trial known as MUK nine . The University ... this trial, which is partly funded by Myeloma UK, and ...
(Date:10/11/2017)... ... October 11, 2017 , ... Singh Biotechnology today announced that ... SBT-100, its novel anti-STAT3 (Signal Transducer and Activator of Transcription 3) B VHH13 ... cross the cell membrane and bind intracellular STAT3 and inhibit its function. Dysregulation ...
(Date:10/10/2017)... ... 2017 , ... For the second time in three years, ... Award. Representatives of the FirstHand program travelled to Washington, D.C. Tuesday, October 10th, ... mission is to change the trajectory of STEM education in America by dramatically ...
(Date:10/10/2017)... CRUZ, Calif. , Oct. 10, 2017 ... grant from the NIH to develop RealSeq®-SC (Single Cell), ... kit for profiling small RNAs (including microRNAs) from single ... Analysis Program highlights the need to accelerate development of ... "New techniques for measuring ...
Breaking Biology Technology:
(Date:4/11/2017)... MELBOURNE, Florida , April 11, 2017 ... "Company"), a security technology company, announces the appointment of independent ... John Bendheim to its Board of Directors, furthering the ... ... behalf of NXT-ID, we look forward to their guidance and ...
(Date:4/5/2017)... , April 4, 2017 KEY FINDINGS ... to expand at a CAGR of 25.76% during the ... is the primary factor for the growth of the ... https://www.reportbuyer.com/product/4807905/ MARKET INSIGHTS The global stem ... technology, application, and geography. The stem cell market of ...
(Date:3/30/2017)... , March 30, 2017 The research ... system for three-dimensional (3D) fingerprint identification by adopting ground breaking 3D ... a new realm of speed and accuracy for use in identification, ... an affordable cost. ... ...
Breaking Biology News(10 mins):