Company Reiterates Focus on Pharmaceutical Cannabinoids and Spray Technology
PHOENIX, Nov. 05, 2018 (GLOBE NEWSWIRE) -- 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.
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.
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.
||Jackie Marcus or Chris Hodges
||Alpha IR Group
Source: INSYS Therapeutics, Inc.