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:6/23/2016)... A person commits a crime, and the detective ... the criminal down. An outbreak of foodborne illness ... (FDA) uses DNA evidence to track down the bacteria that ... It,s not. The FDA has increasingly used a complex, cutting-edge ... illnesses. Put as simply as possible, whole genome sequencing is ...
(Date:6/23/2016)... FRANCISCO , June 23, 2016   EpiBiome ... has secured $1 million in debt financing from Silicon ... ramp up automation and to advance its drug development ... its new facility. "SVB has been an ... beyond the services a traditional bank would provide," said ...
(Date:6/23/2016)... 2016  Blueprint Bio, a company dedicated to identifying, ... community, has closed its Series A funding round, according ... "We have received a commitment from Forentis Fund ... to meet our current goals," stated Matthew Nunez ... to complete validation on the current projects in our ...
(Date:6/23/2016)... Windsor, Connecticut (PRWEB) , ... June 23, 2016 ... ... will introduce a new line of intelligent tools designed, tuned and optimized exclusively ... place September 12–17 in Chicago. The result of a collaboration among several companies ...
Breaking Biology Technology:
(Date:4/28/2016)... -- First quarter 2016:   , Revenues ... first quarter of 2015 The gross margin was 49% ... and the operating margin was 40% (-13) Earnings per ... from operations was SEK 249.9 M (21.2) , Outlook ... 7,000-8,500 M. The operating margin for 2016 is estimated ...
(Date:4/26/2016)... 2016 Research and Markets has ... Market 2016-2020"  report to their offering.  , ,     ... The analysts forecast the global multimodal biometrics market ... the period 2016-2020.  Multimodal biometrics is ... as the healthcare, BFSI, transportation, automotive, and government ...
(Date:4/15/2016)... 15, 2016  A new partnership announced today ... underwriting decisions in a fraction of the time ... and high-value life insurance policies to consumers without ... With Force Diagnostics, rapid testing (A1C, Cotinine and ... (blood pressure, weight, pulse, BMI, and activity data) ...
Breaking Biology News(10 mins):