Insys's Stock Soars After Cannabis-based Oral Drug Gets FDA Approval

Shares of Insys Therapeutics Inc. soared 19% in premarket trade Tuesday, after the drug maker said the Food and Drug Administration approved its orally administered treatment for anorexia associated with weight loss in AIDS patients, and for nausea associated with chemotherapy. The treatment, Syndros, is a pharmaceutical version of tetrahydrocannabinol, THC, which is the main active ingredient in cannabis. The stock had plunged 53% through Friday, while the S&P 500 has gained 2.9%.