NASDAQ's Temporary Suspension of Minimum Bid Closing Price Rules Extends Insmed's Compliance Date to Marc... ( RICHMOND Va. Oct. 22 /- Insmed In...)

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 manufa
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NASDAQ's Temporary Suspension of Minimum Bid Closing Price Rules Extends Insmed's Compliance Date to Marc...( RICHMOND Va. Oct. 22 /- Insmed In...)