Insys Therapeutics Inc. (NASDAQ:INSY) just announced that Syndros, the first and only FDA approved liquid dronabinol (synthetic THC) is now available by prescription.
Syndros is indicted for the treatment of anorexia associated with AIDS and for nausea and vomiting associated with cancer chemotherapy.
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Currently, AbbVie's (NYSE:ABBV) dronabinol capsule, Marinol (or its generic equivalent) is often prescribed for both of these indications. However, Insys' orally administered solution represents an alternate delivery method that may make it easier for ailing patients to consume their medication.
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Prior to today, Insys' only commercialized product (and therefore the source of 100% of their revenue) was Subsys, a fentanyl sublingual spray. Subsys has become the subject of immense controversy as well as legal action relating to the alleged improper prescribing of the product.
In regards to the near term market reaction, don't get too excited about this product launch. In the near term, the main driver of Insys' share price is likely to be actions and news related to Subsys, as well as the company's second quarter earnings release on August 3rd. We'll be listing in for any comments in Insys' conference call this Thursday regarding both Syndros and Subsys, although we aren't expecting much data regarding Syndros given it just launched today.
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In the longer term, Syndros has a lot of potential to increase the both number of patients being prescribed dronabinol and to help ailing patents who were on Marinol find an easier and potentially more effective delivery method. We'll be watching to see how Syndros is received by health care professionals and patients, and will be looking to see the early financial impact it has on Insys in their earnings release for the third quarter.
Even farther down the road, Insys is currently in phase 3 clinical trials for Buprenorphine sublingual spray and Naloxone sublingual spray. In regards to Insys' cannabinoid products (other than Syndros), the company is in phase two clinical trials of cannabidiol (CBD) for the treatment of severe pediatric epilepsies.
We're excited for the launch of Syndros and are hoping it can set Insys' cannabinoid product portfolio off on the right foot. We'll also be paying close attention to Insys' earnings release and conference call on August 3rd. Stay tuned for more on Insys from The Daily Marijuana Observer.
Learn more about Insys Therapeutics by checking out the company's marijuana stock profile in our cannabinoid biotech marijuana stock database.
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