Navigation Links
NASDAQ's Temporary Suspension of Minimum Bid Closing Price Rules Extends Insmed's Compliance Date to March 20, 2009
Date:10/22/2008

RICHMOND, Va., Oct. 22 /PRNewswire-FirstCall/ -- Insmed Inc. (Nasdaq: INSM), a developer of follow-on biologics and biopharmaceuticals, today announced that as a result of the recently disclosed temporary suspension of NASDAQ's minimum bid closing price rule (the "Minimum Bid"), NASDAQ has informed Insmed that the Company now has until March 20, 2009 to comply with The Minimum Bid requirements.

Insmed must evidence a closing bid price of $1.00 or more for a minimum of 10 consecutive business days prior to March 20, 2009 in order to remain listed on The NASDAQ Stock Market.

As previously disclosed, the Special Meeting of Shareholders planned for November 24, 2008 seeking shareholder approval of a reverse split, should the Company need it, has been postponed until further notice.

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.

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. "Put Down the BBQ Ribs, We've Found You a Donor Heart," Nurse Tells Patient : Ohio Father near Death Gets Second Chance at Life with CardioWest™ temporary Total Artificial Heart
2. Tapestry Receives Notice Regarding Minimum Bid Price Rule
3. AMEX Notifies Signalife that It Will Need to Comply with Minimum Stockholders Equity Requirement
4. Vermillion Meets Minimum Bid Price and Receives NASDAQ Staff Determination Letter for Minimum Market Capitalization
5. ImaRx Therapeutics Receives Notification from NASDAQ Regarding Non-Compliance with NASDAQs Minimum Bid Price Requirement
6. Cell Therapeutics, Inc. Announces Receipt of Letter From the NASDAQ Stock Market Regarding Non-Compliance With the Minimum Bid Price Requirement
7. CardioDynamics Receives Nasdaq Letter of Non-Compliance With Minimum Bid Price Requirement
8. Vasogen Receives NASDAQ Notification Related to Minimum Bid Price
9. Peregrine Pharmaceuticals Receives Letter from NASDAQ Citing Failure to Regain Compliance with Minimum Bid Price Rule
10. Insmed Announces That NASDAQ Temporarily Suspends Minimum Bid Closing Price Rule
11. PeriCor Therapeutics Announces Closing of Licensing Agreement for Acadesine with Schering-Plough Corporation
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)... Ca (PRWEB) , ... May ... ... (PSCs) offer an unlimited source of human cardiovascular cells for research and ... differentiation methods makes it possible to generate large numbers of cardiomyocytes (hPSC-CMs). ...
(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 firm that partners ... Coast. It has opened an office in downtown Boston at 745 Atlantic Ave. ... more important to generate evidence on the value they provide, not just to patients, ...
Breaking Biology Technology:
(Date:5/16/2017)... TEANECK, N.J. , May 16, 2017  Veratad ... leading provider of online age and identity verification solutions, ... the K(NO)W Identity Conference 2017, May 15 thru May ... Ronald Regan Building and International Trade Center. ... across the globe and in today,s quickly evolving digital ...
(Date:5/6/2017)... , May 5, 2017 ... just announced a new breakthrough in biometric authentication ... exploits quantum mechanical properties to perform biometric authentication. These ... smart semiconductor material created by Ram Group and ... finance, entertainment, transportation, supply chains and security. Ram ...
(Date:4/19/2017)... ALBANY, New York , April 19, 2017 /PRNewswire/ ... highly competitive, as its vendor landscape is marked by ... in the market is however held by five major ... and Safran. Together these companies accounted for nearly 61% ... majority of the leading companies in the global military ...
Breaking Biology News(10 mins):