UPDATE 1-Insys Therapeutics' auditor raises going concern doubts, shares drop [Reuters]
INSYS THERAPEUTICS (INSY)
Last insys therapeutics earnings: 11/5 04:16 pm
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Source: Reuters
Insys Therapeutics' auditor raises going concern doubts, shares drop (Reuters) - Insys Therapeutics Inc said on Wednesday its auditor raised doubts on the drugmaker’s ability to continue as a going concern, sending its shares down 13 percent. The Arizona-based company said the auditor’s opinion on the audited financial statements for the year ended Dec. 31, 2018 flags uncertainty in its ability to generate enough cash to meet its legal obligations and sustain operations. Insys said that while it is looking for ways to raise capital, it can provide “no assurances” on the success of its efforts or that it would resolve its liquidity issues and wipe out operating losses. “If we are unable to obtain sufficient funding, we would need to significantly reduce our operating plans and curtail some or all of our product development, commercialization and strategic plans,” the company said in a regulatory filing. Last week, Insys said it had hired Lazard to advise on its plans to explore strateg
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