Insmed Inc (INSM)

[ToysInTheAttic]

Is this standard boilerplate verbage?

just like the statements of risk reqd on financing filings?

Insmed Announces Additional Information in Compliance with NASDAQ Rules
Wednesday March 22, 6:43 am ET


RICHMOND, Va.--(BUSINESS WIRE)--March 22, 2006--Insmed Incorporated (NASDAQ: INSM - News): Under NASDAQ Marketplace Rule 4350(b) any Company listed on the NASDAQ Market which receives a going concern opinion is required to press release this information to the public. In compliance with this market rule Insmed announces that in its 10K filed for the year ended December 31, 2005 the Company's auditor had modified their audit opinion due to a going concern uncertainty, as the Company's ability to continue as a going concern at the time was dependent upon its ability to raise capital through securities offerings, debt financing, and partnerships and use these sources of capital to fund operations.
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Subsequent to the filing of the 10K the Company was successful in completing a public offering on March 15, 2006 which, together with its current cash on hand, the Company believes is sufficient to cover the Company's operational needs at least through the second quarter of 2007. The Company raised net proceeds of approximately $42.8 million in the offering.