INSYS Therapeutics to Assess Strategic Alternatives for Opioid-Related Assets
November 05 2018 - 4:15PM
Company Reiterates Focus on Pharmaceutical
Cannabinoids and Spray Technology
INSYS Therapeutics, Inc. (NASDAQ: INSY), a leader in the
development, manufacture and commercialization of pharmaceutical
cannabinoids and spray technology, today announced that it has
commenced a process to review strategic alternatives for its
portfolio of opioid-related assets, including SUBSYS® fentanyl
sublingual spray, which has been commercially available in the
United States since 2012, as well as formulations of buprenorphine
and the combination of buprenorphine/naloxone.
“Consistent with our aspiration to become a leader in
pharmaceutical cannabinoids and novel drug delivery systems and to
continue shifting focus from opioids, the company has invested more
than $200 million in R&D since 2016,” said Saeed Motahari,
president and chief executive officer of INSYS Therapeutics.
“Because of our commitment to R&D, the product pipeline has
advanced and matured to become the primary focus and driving
force of future growth. With a number of clinical and regulatory
milestones to achieve over the next few quarters, including the
completion of the CBD and epinephrine studies and filing the
naloxone NDA, we believe this is the appropriate time to evaluate
strategic alternatives for our opioid-related assets.”
INSYS has engaged JMP Securities LLC as its financial advisor to
assist with this process.
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 patients’
quality of life. Using proprietary spray technology and
capabilities to develop pharmaceutical cannabinoids, INSYS is
developing a pipeline of products intended to address unmet medical
needs and the clinical shortcomings of existing commercial
products. INSYS is committed to developing medications for
potentially treating anaphylaxis, epilepsy, Prader-Willi syndrome,
opioid addiction and overdose, and other disease areas with a
significant unmet need.
SUBSYS® and SYNDROS® are trademarks of INSYS Development
Company, Inc., a subsidiary of INSYS Therapeutics, Inc.
NOTE: All trademarks and registered trademarks are the property
of their respective owners.
Forward-Looking Statements
This news release contains forward-looking statements that are
based on management’s expectations and assumptions as of the date
of this news release. Such forward-looking statements, including
those regarding the exploration of strategic alternatives, the
conduct of clinical studies, and drug development involve risks and
uncertainties. Actual results may differ materially from those in
these forward-looking statements due to various factors, many of
which are beyond our control. These factors include, but are not
limited to, risks described in our filings with the United States
Securities and Exchange Commission, including those discussed under
the caption “Risk Factors” in our Annual Report on Form 10-K for
the year ended Dec. 31, 2017 and subsequent updates that may occur
in our Quarterly Reports on Form 10-Q. Forward-looking statements
speak only as of the date of this news release, and we undertake no
obligation to publicly update or revise these statements, except as
may be required by law.
CONTACT: |
Corporate Communications |
Investor Relations |
|
Joe McGrath |
Jackie Marcus or Chris Hodges |
|
INSYS Therapeutics |
Alpha IR Group |
|
480-500-3101 |
312-445-2870 |
|
jmcgrath@insysrx.com |
INSY@alpha-ir.com |
INSYS THERAPEUTICS, INC. (NASDAQ:INSY)
Historical Stock Chart
From Jun 2024 to Jul 2024
INSYS THERAPEUTICS, INC. (NASDAQ:INSY)
Historical Stock Chart
From Jul 2023 to Jul 2024