Dirk R. Wijnen schreef:
Insmed Receives NASDAQ Deficiency Notice Relating to Minimum Bid Price
Last update: 6/19/2007 4:15:36 PMRICHMOND, Va., Jun 19, 2007 (BUSINESS WIRE) -- Insmed Incorporated (INSM) announced today that on June 18, 2007 it received a NASDAQ Staff Deficiency Letter from The NASDAQ Stock Market. The NASDAQ Letter states that for the last 30 consecutive business days, the closing bid price per share for the Company's common stock has been below the $1.00 minimum per share requirement for continued inclusion under NASDAQ Marketplace Rule 4450(a)(5). In accordance with NASDAQ Marketplace Rule 4450(e)(2), Insmed will be provided 180 calendar days, or until December 17, 2007, to regain compliance by maintaining a closing bid price per share of $1.00 or higher for a minimum of 10 consecutive business days. If Insmed is unsuccessful in meeting the minimum bid requirement during this initial compliance period the Company may transfer the listing of its shares of common stock to The NASDAQ Capital Market and receive an additional 180 day compliance period if the Company meets all initial listing criteria, except for the minimum bid requirement, for that market as set forth in Marketplace Rule 4310(c). If Insmed does not demonstrate compliance within the required period the Company will be issued a delisting letter, which may be appealed at that time. The NASDAQ Letter received on June 18, 2007 has no effect on the listing of the Company's common stock at this time. The Company will seek to regain compliance within this cure period and is considering alternatives to address compliance with the continued listing standards of The NASDAQ Stock Market. About Insmed Insmed is a biopharmaceutical company focused on the development and approval of drugs for the treatment of metabolic diseases with unmet medical needs.