SOURCE: INSYS Therapeutics

Insys Therapeutics

February 21, 2014 07:00 ET

Insys Therapeutics Reports Dismissal of Stockholder Class Action Lawsuit

PHOENIX, AZ--(Marketwired - Feb 21, 2014) - Insys Therapeutics, Inc. (NASDAQ: INSY), a specialty pharmaceutical company with a focus on supportive care products for cancer patients, today announced that the previously reported stockholder class action lawsuit (Hillier v. Insys Therapeutics Incorporated et al) that had been filed against the Company and certain of its officers and directors in U.S. District Court for the District of Arizona was on February 20, 2014, voluntarily dismissed by the plaintiff and thereafter terminated by the court. No payment or consideration of any kind was made by any of the defendants in connection with the dismissal.

About Insys Therapeutics, Inc.
Insys Therapeutics, Inc. is a commercial-stage specialty pharmaceutical company that develops and commercializes innovative supportive care products, with a focus on utilizing its proprietary formulation technologies to address the clinical shortcomings of existing commercial pharmaceutical products. The Company has two marketed products including Subsys®, a proprietary sublingual fentanyl spray for breakthrough pain in opioid-tolerant cancer patients. Insys markets Subsys through its incentive-based, cost-efficient commercial sales force. The Company is developing a robust pipeline of product candidates led by dronabinol oral solution, a proprietary orally administered liquid formulation of dronabinol, which, if approved, would be its second branded supportive care product.

Forward-Looking Statements
This press release may contain "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended which are subject to the "safe harbor" created by those sections. All statements, other than statements of historical facts, included in this press release could be deemed forward-looking statements, particularly statements about our plans, strategies and prospects. In some cases, you can identify forward-looking statements by terminology such as "may," "will," "should," "could," "expects," "plans," "anticipates," "believes," "estimates," "predicts," "potential," "continue," "intend" or the negative of these terms or other comparable terminology. All forward-looking statements in this release are made based on our current expectations, forecasts, estimates and assumptions, and involve risks, uncertainties and other factors that could cause results or events to differ materially from those expressed in the forward-looking statements. Factors, uncertainties and risks that could affect our future results or operations include those detailed in Insys' reports filed with the SEC, including, but not limited to, its reports on forms 10-Q, 8-K and S-1. Insys undertakes no obligation to update or revise these statements, except as may be required by law.

Contact Information

  • Contacts:
    Darryl S. Baker
    Chief Financial Officer
    Insys Therapeutics, Inc.
    602-910-2617

    Lisa M. Wilson
    President
    In-Site Communications, Inc.
    212-452-2793
    E: lwilson@insitecony.com