Insys Therapeutics Inc (INSY.O) 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 Bill Rigby)