What happened
Shares of Insys Therapeutics (NASDAQ:INSY), a small-cap biotech with a focus on pain management, plunged as much as 30% on Wednesday after receiving a double whammy. One whammy was the arrest of the company’s founder; another was negative commentary from President Trump regarding opioids in general.
So what
As very quick background: Insys’ troubled lead drug Subsys, a synthetic opioid, has seen its sales slashed in half over the past two years.