Insys Therapeutics Announces Chief Financial Officer Transition
May 16 2017 - 6:50AM
Insys Therapeutics, Inc. (NASDAQ:INSY) ("Insys" or "the Company")
today announced that Darryl S. Baker, the Company's Chief Financial
Officer (“CFO”), will transition from the role of CFO when a
successor is hired.
Insys has engaged an executive search firm to support the
recruitment of a new CFO. Mr. Baker will continue to work closely
with the management team, including the new CFO, to facilitate a
smooth and successful transition of his responsibilities.
"I thank Darryl for his years of service to Insys," said Saeed
Motahari, President and Chief Executive Officer. “We are
grateful that he will remain at Insys during the transition, and
wish him success in his future endeavors."
"I am honored to have been a part of the Company’s evolution
from a pre-IPO startup to a NASDAQ-listed and publicly traded
enterprise," said Baker. "While this transition is the right step
for me at this time, I am excited about the opportunities that
await Insys, its employees and stockholders as a result of the
Company’s existing products and pipeline candidates."
About Insys Insys Therapeutics is a specialty
pharmaceutical company that develops and commercializes innovative
drugs and novel drug delivery systems of therapeutic molecules that
improve the quality of life of patients. Using proprietary
sublingual spray technology and capabilities to develop
pharmaceutical cannabinoids, Insys is developing a pipeline of
products intending to address unmet medical needs and the clinical
shortcomings of existing commercial products. Insys currently
markets one product, SUBSYS® (fentanyl sublingual spray) but has
received approval for the marketing of SYNDROS™ (dronabinol oral
solution), a proprietary, orally administered liquid formulation of
dronabinol that Insys believes has distinct advantages over the
current formulation of dronabinol in soft gel capsule. Insys
is committed to developing medications for potentially treating
addiction to opioids, opioid overdose, epilepsy, and other disease
areas with high unmet need.
SUBSYS® and SYNDROS™ are trademarks of Insys Development
Company, Inc., a subsidiary of Insys Therapeutics, Inc.
Forward-Looking Statements This press release
contains forward-looking statements within the meaning of the
Private Securities Litigation Reform Act of 1995, as amended and
other securities laws. Forward-looking statements are statements
that are not historical facts. Words such as “will,” “may,”,
“believe,” “intends,” “anticipate(s),” “plan,” “enables,” and
similar expressions are intended to identify forward-looking
statements. These statements include statements regarding future
events including, but not limited to the belief that SYNDROS has
distinct advantages over the current formulation of dronabinol in
soft gel capsule. These forward-looking statements are based on
management's expectations and assumptions as of the date of this
press release, and actual results may differ materially from those
in these forward-looking statements as a result of various factors,
many of which are beyond our control. For a description of these
risks facing the company, please see the risk factors described in
our filings with the United States Securities and Exchange
Commission, including those factors discussed under the caption
"Risk Factors" in our Annual Report on Form 10-K for the year ended
December 31, 2016 and any subsequent updates that may occur in our
Quarterly Reports on Form 10-Q. Forward-looking statements speak
only as of the date of this press release, and we undertake no
obligation to update or revise these statements, except as may be
required by law.
Investor Contact:
Lisa Wilson
T: 212-452-2793
E: INSYS@insysrx.com
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