March 31 Insys Therapeutics Inc said on
Friday that it will restate some financial statements due to the
identification of certain errors.
The company said in a regulatory filing that the
restatements were needed because of errors related to company's
accounting for certain product sales allowances. (reut.rs/1oUTX8C)
Insys said previously issued interim unaudited financial
results for the quarters ended Sept. 30, June 30 and March 31
for the years 2015 and 2016 will be restated and amended in
quarterly reports to reflect the necessary adjustments in the
corresponding quarterly periods.
Earlier this month, the company announced a delay in
releasing its fourth-quarter and full-year 2016 results. The
company also said it would delay filing its annual report.
(Reporting by Akankshita Mukhopadhyay in Bengaluru; Editing by