0.2861 -0.00 (-1.72%)
After hours: 6:19PM EDT
|Bid||0.2550 x 800|
|Ask||0.2725 x 1000|
|Day's Range||0.2520 - 0.3800|
|52 Week Range||0.1400 - 11.6500|
|Beta (3Y Monthly)||4.03|
|PE Ratio (TTM)||N/A|
|Earnings Date||Aug 6, 2019 - Aug 12, 2019|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||5.60|
Yahoo Finance's Adam Shapiro fills you in on the top trending news stories that you need to know.
Insys Therapeutics bankruptcy news for Wednesday has INSY stock heading higher.Source: Insys TherapeuticsInsys Therapeutics (NASDAQ:INSY) notes that it now has approval from the U.S. Bankruptcy Court for the District of Delaware for its First Day motions. It received this approval on Tuesday, but only just announced the news today.This approval will allow the company to move forward with its Insys Therapeutics bankruptcy plans. This marks a move in the right direction for the company as it looks to use the bankruptcy protection to cover its legacy legal liabilities.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWith the First Day motions approval, Insys Therapeutics will be able to continue operations throughout the bankruptcy process. This includes it continuing to pay employees for their work. It will also let the company keep paying its vendors."This is an important step forward in our court-supervised process, which is intended to fairly and transparently address the Company's legacy legal liabilities," Andrew Long, CEO of Insys Therapeutics, said in a statement. "I would like to thank our team for their continued hard work and dedication as we move forward with our asset sale process." * 7 Stocks to Buy for the Coming Recession The Insys Therapeutics bankruptcy won't just have the company selling off some of its assets to cover its legal costs. Instead, it will be selling "substantially all" of its assets during the process.INSY stock was up 189% as of noon Wednesday, but is down 96% since the start of the year. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy for the Coming Recession * 10 Smart Dividend Stocks for the Rest of the Year * 5 Tech Stocks That Are Far Too Risky Right Now As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Insys Therapeutics Bankruptcy: INSY Stock Soars on Latest News appeared first on InvestorPlace.
Zynerba (ZYNE) gets a new U.S. patent covering methods of treating autism spectrum disorder with cannabidiol, a key compound of its lead pipeline candidate, Zygel.
Shares of Insys Therapeutics Inc. shot up 83% in premarket trade Wednesday, after the bankrupt opioid maker said it received interim court approvals for its "First Day" motions related to bankruptcy filing on Monday. The rally comes after the stock closed at a record low of 14 cents on Tuesday, a far cry from its split-adjusted record high of $641.95 on Sept. 28, 2000. The company said it was granted approval to continue paying its employees and vendors, and to continue its cash management system. "This is an important step forward in our court-supervised process, which is intended to fairly and transparently address the Company's legacy legal liabilities," said Chief Executive Andrew Long.
INSYS Therapeutics, Inc. (INSY) (“INSYS” or the “Company”), a specialty pharmaceutical development and distribution company, announced that on June 11, 2019 INSYS received interim approvals from the U.S. Bankruptcy Court for the District of Delaware for its First Day motions related to the Chapter 11 petitions filed on June 10, 2019. Andrew G. Long, Chief Executive Officer of INSYS Therapeutics, Inc., said, “This is an important step forward in our court-supervised process, which is intended to fairly and transparently address the Company’s legacy legal liabilities. The Court granted INSYS interim approval to continue its existing cash management system to collect and disburse cash generated by the business.
Our call of the day, from Saxo Bank’s head of commodity strategy Ole Hansen, cautions investors against getting too excited over this haven asset again too soon.
Costs related to recent federal settlements and other lawsuits have forced the Valley drugmaker to file for bankruptcy protection.
The Insys Therapeutics bankruptcy news coming out on Monday has INSY stock tanking hard.Source: Insys TherapeuticsInsys Therapeutics (NASDAQ:INSY) says that it has filed for Chapter 11 bankruptcy protection. The company will be using this time to sell off assets of its business in an effort to cover legacy legal liabilities.Companies filing for bankruptcy to reorganize their business is one thing, but the Insys Therapeutics bankruptcy is particularly bad. The company isn't just planning to sell off some of its assets. Instead, it notes that it will be selling "substantially all" of its assets.InvestorPlace - Stock Market News, Stock Advice & Trading TipsWhile the Insys Therapeutics bankruptcy is taking place, the company says that it plans to continue normal operations. This includes paying wages to employees, continuing benefits and making payments to vendors. * 7 Stocks to Buy As They Hit 52-Week Lows Andrew G. Long, CEO of the company, has this to say about the Insys Therapeutics bankruptcy news."After conducting a thorough review of available strategic alternatives, we determined that a court-supervised sale process is the best course of action to maximize the value of our assets and address our legacy legal challenges in a fair and transparent manner. INSYS has compelling assets and a highly talented team. We believe this process will provide us with a forum to negotiate an equitable resolution with our creditors and represents the best opportunity for our people and our business."INSY stock was down 52% as of Monday afternoon and is down 69% year-to-date. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Stocks to Buy As They Hit 52-Week Lows * 4 Antitrust Tech Stocks to Keep an Eye On * 5 Gold and Silver Stocks Touching Intraday Highs As of this writing, William White did not hold a position in any of the aforementioned securities.Compare Brokers The post Insys Therapeutics Bankruptcy: INSY Stock Plunges on the News appeared first on InvestorPlace.
The cannabis industry has grown in recent months and years, and many companies in the cannabis and health-related industries have been uplisted to reputable U.S. exchanges. Learn about the marijuana stocks on the Nasdaq.
Court papers filed Monday in Delaware by the drugmaker, whose former executives were convicted of bribing doctors, list at least $175.1 million in assets and $262.5 million in liabilities. Chapter 11 protection will allow the company to keep operating while it devises a plan to pay its obligations, including to the U.S. Justice Department, and to divest its fentanyl painkiller Subsys. Insys is the first drugmaker to seek bankruptcy protection from its creditors as a result of legal action related to the U.S. opioid epidemic.
was down 36% in trading Monday after the company announced it will be filing for Chapter 11 bankruptcy protection due to the financial burden from litigation tied to its role in the opioid crisis in the United States. It said it would continue to operate its business "in the ordinary course" while it sells off its assets through bankruptcy court. Just last week, Insys agreed to pay $225 million to settle federal charges over its opioid sales.
Shares of Insys Therapeutics Inc. plunged 68% toward a record low in premarket trade Monday, after the specialty pharmaceutical company said it filed for bankruptcy. Insys said it plans to continue operating its business while it pursues the sale of substantially all of its assets. "After conducting a thorough review of available strategic alternatives, we determined that a court-supervised sale process is the best course of action to maximize the value of our assets and address our legacy legal challenges in a fair and transparent manner," said Chief Executive Andrew Long. As of Dec. 31, Insys had 226 full-time employees. The company reported a 2018 net loss of $124.3 million, or $1.68 a share, on revenue of $82.1 million, after a loss of $227.0 million, or $3.12 a share, on revenue of $140.7 million in 2017. The stock has lost 81% over the past 12 months through Friday, while the SPDR S&P Pharmaceuticals ETF has declined 13% and the S&P 500 has gained 3.4%.
The Chapter 11 bankruptcy filing marked a first for a drugmaker accused in lawsuits of helping fuel the deadly U.S. opioid endemic and came just days after Insys struck a $225 million settlement with the Justice Department. The department is now Insys' largest unsecured creditor due to Wednesday's accord, which resulted in a subsidiary pleading guilty to fraud charges and the company entering into a deferred prosecution agreement. The bankruptcy filing came after a federal jury in Boston in May found Insys founder John Kapoor and four other former executives guilty of engaging in a racketeering conspiracy centered on its fentanyl spray, Subsys.
Drugmaker Insys Therapeutics Inc filed for bankruptcy protection on Monday amid mounting expenses driven by a U.S. Justice Department probe into claims it paid doctors bribes to prescribe a powerful opioid medication. The Chapter 11 bankruptcy filing marked a first for a drugmaker accused in lawsuits of helping fuel the deadly U.S. opioid endemic and came just days after Insys struck a $225 million settlement with the Justice Department. The department is now Insys' largest unsecured creditor due to Wednesday's accord, which resulted in a subsidiary pleading guilty to fraud charges and the company entering into a deferred prosecution agreement.
INSYS Therapeutics, Inc. (INSY) (“INSYS” or the “Company”), a specialty pharmaceutical development and distribution company, announced today that INSYS has filed voluntary cases (the “Chapter 11 Cases”) under Chapter 11 of the U.S. Bankruptcy Code in the U.S. Bankruptcy Court in the District of Delaware (the “Court”) to facilitate the sale of substantially all of the Company’s assets and address the Company’s legacy legal liabilities. INSYS intends to continue operating its business in the ordinary course while it pursues these transactions through the court-supervised sale process.
Opioid maker Insys Therapeutics Inc., faced allegations that it paid kickbacks and used other illegal marketing tactics to sell the highly-addictive fentanyl spray.
The multimillion-dollar settlement comes a month after several former executives with the company were found guilty on racketeering charges.
Pfizer (PFE) announces failure of a phase III study evaluating Lyrica in patients with primary generalized tonic-clonic seizures, a form of epilepsy.
Cannabis company Canopy Growth (NYSE:CGC) may have just secured its highest-profile celebrity endorsement yet. Perhaps only topped by the well-publicized relationship between Oprah Winfrey and Weight Watchers (NASDAQ:WW), lifestyle icon Martha Stewart just revealed she invested in an undisclosed stake in Canopy Growth stock because cannabis and cannabinol products are an "alternative to opioids."Source: Shutterstock She's probably not wrong. Insys Therapeutics (NASDAQ:INSY) and Cara Therapeutics (NASDAQ:CARA) are just a couple of several pharmaceutical companies developing ways to use the unique properties of the plant to make effective but not addictive pain-killers.Still, some industry experts are skeptical, and even if the CBD is the basis for an alternative to opioids the world hopes it will be, Canopy Growth role in that sliver of the cannabis movement is modest, at best. Its rise to prominence has been almost entirely driven by recreational use.InvestorPlace - Stock Market News, Stock Advice & Trading TipsTake a closer look at the company though, and you'll find a handful of the (too many) different entities Canopy Growth owns are actually taking aim at the opioid epidemic. * 7 Safe Stocks to Buy for Anxious Investors Pain Relief and Canopy Growth StockThe 77-year Stewart is as in-touch with societal trends as any millennial is, recently explaining of her investment in Canopy Growth stock to Create & Cultivate's founder Jaclyn Johnson, "Well, it's the modern thing, and it's an alternative to opioids of course."It is indeed the modern thing to do. More than 60% of Americans now favor legalizing marijuana, and cannabis has promise as a strong pain reliever.The former model and TV show host went on to undermine her case, however, adding, "I have a lot of animals, and I would love to be able to relieve stress or arthritis or other kinds of problems that my horses, my dogs, my cats experience. We're working on that first, and we're working on additions to human food stuffs, and also on cosmetics."To-date, recreational marijuana has been the crux of the story surrounding Canopy Growth. Of its fiscal Q3 sales of 10,102 kilograms, up 334% year-over-year, the vast majority of it was for recreational usage.The company isn't ignoring its potential role as a supplier of cannabis for true medicinal purposes though. Pharma and Canopy Growth StockAs of the latest look, Canopy owns eight diverse brands, including the relatively new Spectrum Therapeutics, which serves as "the company's healthcare professional and patient-facing identity in medical markets in Canada and around the world." While new, the division has still been undersold.Spectrum Therapeutics is a three-branch unit. Canadian consumers are likely most familiar with Spectrum Cannabis, which supplies medical cannabis using a clever-though-not-complicated color-coding system.It's the other two divisions of Spectrum, however, that quietly look and feel more like pharma companies than a means of simply scoring a high.Canopy Health Innovations, for instance, has secured 38 provisional patents in the United States with more on the way. Overseas, it's involved in eleven different drug-development trials.Cannabinoid Compound Company, also referred to as C3, is Europe's largest cannabinoid-based pharmaceuticals company. Granted, that doesn't necessarily mean a whole lot just yet. The company's dronabinol, however, can be "prescribed by doctors in Germany for any type of chronic pain, and for any condition in palliative care."It's a credible start towards becoming the opioid alternative Martha Stewart believes is possible.Adding to that credibility is the fact that the NFL is exploring the use of cannabis as a means of treating players' pains. That follows a partnership forged between the NHL Alumni Association and Canopy Growth earlier this year, to explore cannabinoids as a means of treating post-concussion neurological diseases… an area the NFL should be exploring as well. Looking Ahead for Canopy Growth StockDon't misread the message. An investment in Canopy Growth stock is an investment in many things, but an investment in opioid alternatives is the least of them. And, it could take years for the prescription-based use of cannabis to catch up with Canopy's recreational business. If that's the impact Stewart is betting on, it could be a long and rocky wait.It's still on the radar though. And, with the opioid market expected to be worth roughly $35 billion by 2025, it's a prospect that would certainly make for a solid second-act from the company. Or, maybe a third act, if the United States legalizes marijuana at the federal level. While certainly game-changing, recreational usage can't drive double-digit and triple-digit growth forever.Besides, the bigger the recreational market gets, the more competitive it becomes, and we've already seen the prices of marijuana fall as it becomes increasingly commoditized.Prescription-based products, preferably co-developed with a major partner, could prove to be a key means for Canopy Growth to differentiate itself and establish a longer-lasting, better-defended growth engine. You've just heard very little about the potential opportunity because it's such a long-term one.As of this writing, James Brumley did not hold a position in any of the aforementioned securities. You can learn more about James at his site, jamesbrumley.com, or follow him on Twitter, at @jbrumley. More From InvestorPlace * 4 Top American Penny Pot Stocks (Buy Before June 21) * 7 Safe Stocks to Buy for Anxious Investors * 4 Tech Stocks Looking Vulnerable * Should You Buy, Sell, Or Hold These 7 Hot IPO Stocks? Compare Brokers The post Even with a Pharma Arm, Canopy Growth Stock Is About Recreational Use appeared first on InvestorPlace.