Is Insys Therapeutics'latest update Bad News for investors?
Insys Therapeutics' latest update contained nothing but bad news for investors. The company stated that its available liquidity is down to $87.6 million in cash and cash equivalents as of March 31, 2019. Insys also anticipates continuing to lose money and have negative cash flow for the foreseeable future.
What is the ticker symbol for Insys Therapeutics?
INSYS Therapeutics trades on the NASDAQ under the ticker symbol "INSY." How much money does INSYS Therapeutics make? INSYS Therapeutics has a market capitalization of $0.00 and generates $82.08 million in revenue each year.
How can I get the latest news and ratings for Insy?
Sign up to receive the latest news and ratings for INSY and its competitors with MarketBeat's FREE daily newsletter. View the latest news, buy/sell ratings, SEC filings and insider transactions for your stocks. Compare your portfolio performance to leading indices and get personalized stock ideas based on your portfolio.
How much cash does Insys have?
The company stated that its available liquidity is down to $87.6 million in cash and cash equivalents as of March 31, 2019. Insys also anticipates continuing to lose money and have negative cash flow for the foreseeable future.
What happened
Shares of Insys Therapeutics (NASDAQ: INSY) were plummeting 73.9% as of 11:35 a.m. EDT on Monday. The biotech reported its first-quarter results after the market closed on Friday. Those results weren't great, but the bigger news was that Insys stated that it might have to file for bankruptcy.
So what
Insys Therapeutics' latest update contained nothing but bad news for investors. The company stated that its available liquidity is down to $87.6 million in cash and cash equivalents as of March 31, 2019. Insys also anticipates continuing to lose money and have negative cash flow for the foreseeable future.
Now what
It's possible that Insys will find a buyer for Subsys. It's possible that the company could raise enough cash to keep moving forward. But the biotech faces serious challenges.
The biotech raised the possibility of filing for bankruptcy in its latest earnings report
Keith began writing for the Fool in 2012 and focuses primarily on healthcare investing topics. His background includes serving in management and consulting for the healthcare technology, health insurance, medical device, and pharmacy benefits management industries. Follow @keithspeights
What happened
Shares of Insys Therapeutics ( NASDAQ:INSY) were plummeting 73.9% as of 11:35 a.m. EDT on Monday. The biotech reported its first-quarter results after the market closed on Friday. Those results weren't great, but the bigger news was that Insys stated that it might have to file for bankruptcy.
So what
Insys Therapeutics' latest update contained nothing but bad news for investors. The company stated that its available liquidity is down to $87.6 million in cash and cash equivalents as of March 31, 2019. Insys also anticipates continuing to lose money and have negative cash flow for the foreseeable future.
Now what
It's possible that Insys will find a buyer for Subsys. It's possible that the company could raise enough cash to keep moving forward. But the biotech faces serious challenges.