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Insmed Stock Wins Reprieve

Company has until Dec. 15 to trade above $1 per share for 10 days running or it will be delisted.



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James A. Bacon
Richmond.com
Thursday, September 04, 2008

Insmed Inc., a developer of generic versions of biotech drugs, has been granted a reprieve: The NASDAQ Listing Qualifications Panel will allow the company to remain listed on the NASDQAQ stock market.

 

But there is a catch: On or before December 15, 2008, Insmed must evidence a closing bid price of $1 or more for a minimum of ten consecutive business days. Yesterday, the money-losing company closed trading at $0.55 per share. More. 

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