INSYS hit by FDA safety concerns over painkiller spray

31 July 2018

Arizonian cannabinoid specialist INSYS Therapeutics (Nasdaq: INSY) suffered a near-10% drop in share price after announcing on Friday that the US regulator would not approve an application to market a buprenorphine sublingual spray it has been developing.

The company received the Complete Response Letter (CRL) from the US Food and Drug Administration, despite the spray showing statistically-significantly pain relief compared to placebo.

The CRL indicates that some of the data presented by the firm raised safety concerns.

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