Insys Therapeutics Inc (NASDAQ:INSY) is thinking about ditching opioids while focusing on cannabinoids and spray technology.
Recent milestones, according to the drug company, include the completion of dose-finding study data for an epinephrine nasal spray and the presentation of long-term safety study data on cannabidiol’s use with refractory pediatric epilepsy.
Insys also expanded a collaborative partnership with the University of California San Diego’s Center for Medicinal Cannabis Research to study its cannabidiol oral solution for anxiety in anorexia nervosa.
The company said it’s undertaking a strategic alternative review for its opioid-related assets and is in active negotiations with multiple parties regarding the potential sale of Subsys. It hired Lazard in the fourth quarter to advise it on capital planning and strategic alternatives across the company. In November, the company said it engaged JMP Securities to advise it