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Insys Therapeutics Inc: FDA Approval of Syndros Sends INSY Stock SOARING

Good news for those of you holding stock in Insys Therapeutics Inc (NASDAQ:INSY), as INSY shares popped 23% fresh out of the gate Tuesday morning, tempering to about 9% as of this writing.

Insys Therapeutics Inc: FDA Approval of Syndros Sends INSY Stock SOARINGAfter the long holiday weekend, Insys broke the news that its dronabinol oral solution, Syndros, was approved by the Food and Drug Administration.

Syndros, an orally delivered pharmaceutical solution of tetrahydrocannabinol, will treat AIDS patients suffering from weight loss, as well as cancer patients experiencing chemotherapy-related nausea and vomiting.

The company’s chairman, CEO and president, Dr. John N. Kapoor is just as enthused as investors:

“We are very pleased to announce FDA approval of Syndros. We believe that Syndros will be an important new treatment option for patients suffering from the devastating effects of chemotherapy induced nausea and vomiting, as well as those fighting anorexia associated with weight loss in AIDS.”

INSY Stock Looking Positive

It’s easy to see why there’s all this bullishness on INSY stock; Syndros’ approval makes it the first FDA-approved oral dronabinol solution, which Dr. Kapoor believes, coupled with patient support services, provides something of a moat against copycats.

“We expect that Syndros’ attractive profile will enable rapid market conversion and expansion,” continued Dr. Kapoor, “making for a significant long-term commercial opportunity for Insys.”

And analysts, too, believe in Insys stock, with five of the six analysts covering the stock recommending it as a buy or stronger.

The takeaway here is that even after today’s huge pop, INSY stock has plenty of upside, with another 65% needed to reach its consensus price target of $24.40. If Syndros performs as well as investors and the company believe it will, then those gains could be more than just a pipeline dream.

Insys is awaiting scheduling by the FDA with an anticipated launch date sometime in the second half of 2016.

As of this writing, John Kilhefner did not hold a position in any of the aforementioned securities.

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