FDAnews Drug Daily Bulletin

AUDITOR DOUBTS INSMED VIABILITY

March 23, 2006
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Biopharmaceutical firm Insmed Inc. said Wednesday its independent accounting firm raised doubts at the beginning of March that the company will be able to continue as a going concern. However on March 15, Insmed said it had raised $42.8 million in net proceeds from a public offering of stock. Along with current cash on hand, the company said it will be able to cover its operational expenses through the second quarter of 2007.
The Houston Chronicle