April 3 Insys Therapeutics Inc on
Monday reported a 41.6 percent decline in quarterly revenue,
hurt by a fall in demand for its pain drug, Subsys.
Insys said last week it would restate some financial
statements after identifying errors related to accounting for
some product sales allowances.
The company reported a net loss of $3.7 million or 5 cents
per share in the fourth quarter ended Dec. 31, compared with a
profit of $18.1 million or 24 cents per share, a year earlier.
Revenue fell to $54.9 million from $93.9 million.
(Reporting by Divya Grover in Bengaluru; Editing by Sai Sachin