Insys Therapeutics banks on generic Marinol to ride out recession

March 26, 2009

By hammersmith

[Source: Arizona Republic, Ken Alltucker] – At a time when biotech firms are struggling to stay alive, any little setback can drain a company’s cash and limit prospects for raising more money.

When a trio of challenges emerge – a stalled initial public offering, a daunting regulatory hurdle for a drug and a struggling economy – it can be enough to bury a small company.

But Insys Therapeutics has avoided the fate of many sputtering biotech startups that have struggled to raise cash and maintain operations during the recession, and it is working toward gaining regulatory approval of a synthetic marijuana-like drug that could further advance the Phoenix firm’s bottom line and boost the region’s bioscience economy.

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