As reported last week, the billionaire founder of Insys Therapeutics Inc. (NASDAQ:INSY) was arrested on charges related to his participation in an alleged scheme to bribe doctors into prescribing unqualified patients the company's fentanyl-based pain drug that is intended for cancer patients.
As shares of INSY were halted at $5.74 per share, investors and traders have been wondering when to expect the resumption of trading. As of 10:00 AM E.S.T. today, Nasdaq has resumed trading in shares of INSY.
According to Seeking Alpha, the company "announced $150M reserve to potentially settle the DOJ investigation into its Subsys marketing practices."
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