In the first nine months of 2018, INSYS Therapeutics’ net revenues declined ~40% YoY to reach $109.2 million from $65.7 million. In the third quarter, the company’s revenues declined ~40% YoY to reach $18.3 million from $30.7 million.
Wall Street analysts estimate that INSYS Therapeutics is expected to generate revenues of $17.95 million in the fourth quarter of fiscal 2018, which represents a ~42.99% YoY decline. Analysts also estimate that INSYS Therapeutics will report net revenues of $83.74 million for fiscal 2018, which represents a ~40.48% YoY decline.
Analysts estimate that GW Pharmaceuticals (GWPH) and Cara Therapeutics (CARA), INSYS Therapeutics’ peers in the cannabinoid drugs market, will report net revenues of $8.7 million and $10.9 million, respectively. GW Pharmaceuticals is expected to deliver ~13.52% YoY revenue growth in fiscal 2018.
INSYS Therapeutics and Lunatus signed a licensing agreement for the commercialization of Subsys in the Middle East market. The agreement could boost INSYS Therapeutics’ global footprint and business growth.
In the first nine months of 2018, INSYS Therapeutics’ cost of revenue amounted to $8.2 million compared to $16.0 million in the same period the prior year. Wall Street analysts anticipate INSYS Therapeutics’ cost of revenue to be around $9.7 million in fiscal 2018.
In the first nine months of 2018, INSYS Therapeutics’ net expenses in sales and marketing (or S&M) amounted to $25.5 million compared to $41.7 million in the same period the prior year. INSYS Therapeutics reported R&D (research & development) and G&A (general & administrative) expenses of $43.2 million and $29.3 million, respectively, compared to $46.6 million and $31.8 million in the same period the prior year.
Wall Street analysts estimate that the company’s S&M, G&A, and R&D expenditure will be around $32.49 million, $89.50 million, and $58.78 million, respectively, in fiscal 2018.