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Insys Therapeutics (INSY) Stock Tanks on Preliminary Subsys Revenues

NEW YORK (TheStreet) -- Insys Therapeutics (INSY - Get Report) stock is plunging by 19.54% to $14.21 on heavy trading volume this afternoon, following the release of the company's 2016 first quarter revenue from its fentanyl painkiller Subsys.

The pharmaceutical company anticipates that sales for the treatment will range between $61 million and $62 million for the quarter.

Analysts were looking for revenue of approximately $88 million, TheStreet's Adam Feuerstein reports.

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