- Insys Therapeutics (INSY -5.5%) President & CEO Dr. John Kapoor has decided to leave the company to pursue "outside interests." He will remain on board until his replacement is appointed. The search for a successor has been initiated.
- The stock has been in a long-term downtrend since last year. Shares bottomed at $11.45 on June 27, down ~75% from July 2015 before reversing. Last month, the company reported positive results from a Phase 3 study of pain candidate Buprenorphine Sublingual Spray. It plans to meet with the FDA by year end to clarify the requirements for a New Drug Application (NDA).
- Previously: Insys' Buprenorphine Sublingual Spray successful in late-stage study; shares up 9% premarket (Aug. 24)