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Insmed Announces Financial Results for Third Quarter and Nine-Months Ended September 30, 2010
Date:11/3/2010

2,087Total assets$
26,978$
26,695Liabilities and stockholders' equityCurrent liabilities:  Accounts payable $
431$
312  Accrued project costs & other1,1501,150  Payroll liabilities481580  Interest payable-1  Deferred rent132132  Deferred revenue98398  Convertible debt-231  Debt discount-(23)Net convertible debt-208Total liabilities2,2922,781Stockholders' equity:Common stock; $.01 par value; authorized shares 500,000,000; issued and outstanding shares, 130,345,819 in 2010 and 130,208,099 in 20091,3031,302  Additional paid-in capital350,458350,243  Accumulated deficit(228,666)(228,076)  Accumulated other comprehensive income:Unrealized gain on investment1,591445  Net stockholders' equity 124,686123,914Total liabilities and stockholders' equity $
26,978$
26,695INSMED INCORPORATEDConsolidated Statements of Operations(in thousands, except per share data) Three Months Ended Nine Months Ended September 30,September 30,20102009

20102009Royalties

$$
21

$
3$
79Grant revenue

--

-544Other expanded access program income, net

1,8062,454

5,5977,262  Total revenues

1,8072,475

5,6007,885Operating expenses:Research and development

7691,143

2,3048,483Selling, general and administrative

1,6362,096

5,0588,419  Total expenses

2,4053,239

7,36216,902Operating loss

(598)(764)

(1,762)(9,017)Investment income

345682

1,280817Interest expense

-(68)

(28)(730)Gain on sale of asset, net

--

-127,768Income (loss) before taxes

(253)(150)

(510)118,838Income tax expense

77-

802,794Net (loss) income

$
(330)$
(150)

$
(590)$
,044Basic net (loss) income per share

$
(0.00)$
(0.00)

$'/>"/>

SOURCE Insmed Inc.
Copyright©2010 PR Newswire.
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