The company’s CEO has released a statement regarding the events of the past few days.
PHOENIX, Oct. 29, 2017 (GLOBE NEWSWIRE) -- Insys Therapeutics (NASDAQ:INSY) (“INSYS” or “the company”), today released the following statement from its president and chief executive officer, Saeed Motahari:
“While we are saddened by the events of the past days, we reaffirm our unwavering commitment to securing a solid foundation for sustainable future growth. Representing nearly 400 employees, I want to reiterate my personal commitment and our collective resolve to leverage our diverse and unique pipeline, state-of-the-art manufacturing and, above all, the talent of our team to drive innovation for our patients and value for our stakeholders.
“Our future success will be grounded by a culture of ethical business practices and placing patients’ interests at the forefront of the choices we make as an organization. We will continue to cooperate with ongoing investigations and strive to resolve them as circumstances permit.
“Our management team is taking steps to put the company on the path of improved profitability and cash flow in 2018 by reducing operating expenses while projecting growth on the top line by stabilizing SUBSYS and growing SYNDROS. We continue to believe that the company is in position to file one NDA per year over the next five years and become a leader in the cannabinoids market.”
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 intending to address unmet medical needs and the clinical shortcomings of existing commercial products. INSYS currently markets SUBSYS® (fentanyl sublingual spray), CII, and SYNDROS® (dronabinol) oral solution, CII, a proprietary, orally administered liquid formulation of dronabinol. INSYS is committed to developing medications for potentially treating addiction to opioids, opioid overdose, epilepsy, 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. Forward looking statements are based on management’s expectations and assumptions as of the date of this news release; 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. These factors include, but are not limited to, 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 Dec. 31, 2016 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:
Media Relations
Joe McGrath
Senior Director, Corporate Communications
INSYS Therapeutics
480-500-3101
jmcgrath@insysrx.com
Investor Relations
Jackie Marcus or Chris Hodges
Alpha IR Group
312-445-2870
INSY@alpha-ir.com
