Turns out Insys might be a bad business

Insys Therapeutics, the maker of a highly addictive pain treatment, has problems. One is that its executives are currently on trial for allegedly bribing doctors and indisputedly desecrating rap songs. The other is that it’s running out of money.

As STAT’s Ed Silverman reports, Insys said in a regulatory filing that there’s “substantial doubt” as to whether the company can continue “as a going concern,” a disclosure that sent its stock price down double-digits.

Insys’s current predicament is interesting in the context of this 2018 Wall Street Journal story, headlined “Opioid Maker Insys Still Has Fans on Wall Street,” in which a bunch of analysts point out that if you look behind the drug that put the company on trial, there’s a pipeline of treatments that might actually have some value.

Any path forward for Insys relies on surviving the trial and selling off the painkiller. Changing the company name might help, too.

Read more.