Insmed Regains NASDAQ Compliance
04 Mars 2010 - 2:00PM
PR Newswire (US)
RICHMOND, Va., March 4 /PRNewswire-FirstCall/ -- Insmed
Incorporated , a biopharmaceutical company, today announced that it
has received notification from The NASDAQ Stock Market that it has
regained compliance with the minimum $1.00 per share bid price
requirement, and further, that it currently complies with all other
applicable standards for continued listing. To regain compliance
with the bid price rule, the Company was required to evidence a
closing bid price of $1.00 per share or more for a period of at
least 10 consecutive trading days. On March 2, 2010, the closing
price of the Insmed's common stock was $1.20 per share, the tenth
consecutive day the stock price had closed above $1.00 per share.
Insmed will continue to trade on The NASDAQ Capital Market and the
previously disclosed delisting proceeding related to its bid price
compliance is now closed. About Insmed Insmed Inc. is a
biopharmaceutical company with unique protein development
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
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 in the
future our common stock may not meet the standards for continued
listing on The NASDAQ Stock Market and other risks 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, 2008. Readers 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. Investor Relations Contact: Brian Ritchie
- FD 212-850-5683 brian.ritchie@fd.com Media Relations Contact:
Irma Gomez-Dib - FD 212-850-5761 irma.gomez-dib@fd.com DATASOURCE:
Insmed Incorporated CONTACT: Investor Relations: Brian Ritchie -
FD, +1-212-850-5683,brian.ritchie@fd.com, or Media Relations: Irma
Gomez-Dib - FD,+1-212-850-5761, irma.gomez-dib@fd.com Web Site:
http://www.insmed.com/
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