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Insmed Announces Financial Results for Second Quarter and Six-Months Ended June 30, 2011
Date:8/8/2011

and challenges detailed in our filings with the U.S. Securities and Exchange Commission, including our Annual Report on Form 10-K for the year ended December 31, 2010 and our Quarterly Report on Form 10-Q for the quarter ended June 30, 2011.  Investors are cautioned not to place undue reliance on any forward-looking statements which speak only as of the date of this release.  We undertake 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. INSMED INCORPORATEDConsolidated Balance Sheets (Unaudited)(in thousands, except share and per share data)June 30,

December 31,2011

2010AssetsCurrent assets:   Cash and cash equivalents

$
9,839

$
,743  Short-term investments

82,123

97,306  Accounts receivable, net

303

471  Prepaid expenses

354

277Total current assets

92,619

108,797Certificate of deposit

2,085

2,176In-process research and development

77,900

77,900Goodwill

6,290

6,290Deposits

378

-Fixed assets, net

1,016

1,102Total assets

$
80,288

$
96,265Liabilities and stockholders' equityCurrent liabilities:   Accounts payable

$
,921

$
,450  Accrued expenses

1,162

1,256  Deferred rent

150

150  Capital lease obligations, current

64

81  Deferred revenue

195

402Total current liabilities

3,492

3,339Capital lease obligations, long-term58

83Total liabilities

3,550

3,422Stockholders' equity: Common stock; $.01 par value; authorized shares   500,000,000; issued and outstanding shares, 24,833,301 in 2011 and 15,653,734 in 2010

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SOURCE Insmed Incorporated
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