INSYS Therapeutics, Inc. Receives Court Approval of “First Day” Motions
INSYS THERAPEUTICS (INSY)
Last insys therapeutics earnings: 11/5 04:16 pm
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Source: GlobeNewswire
PHOENIX, June 12, 2019 (GLOBE NEWSWIRE) -- INSYS Therapeutics, Inc. (NASDAQ: 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. I would like to thank our team for their continued hard work and dedication as we move forward with our asset sale process.” The Court granted INSYS interim approval to continue its existing cash management system to collect and disburse cash generated by the business. In addition, INSYS received Court approval to, among other things, continue payment of employee wages
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