Insys Therapeutics, a commercial stage specialty pharmaceutical company that has launched two products to treat breakthrough cancer pain and chemotherapy-induced nausea and vomiting (CINV), announced terms for its IPO on Friday. The Phoenix, AZ-based company plans to raise $68 million by offering 4 million shares at a price range of $16 to $18. At the midpoint of the proposed range, Insys Therapeutics would command a market value of $287 million.
Insys Therapeutics, which was founded in 1990, plans to list on the NASDAQ under the symbol INSY. Insys Therapeutics initially filed for its IPO in March 2011. The company booked $15 million in revenue for the 2012 fiscal year, the first time the company reported revenue. Wells Fargo Securities and JMP Securities are the joint bookrunners on the deal.
