Insys Therapeutics, Inc. announced that it will delay the release of its financial results for the fourth quarter and full year 2016. The Audit Committee of the company and Board of Directors has been conducting an independent review of the company processes related to estimation of, and increases to, certain sales allowances recorded during 2016, with a potential reduction of 2015 net revenue and pre-tax income not expected to exceed $5 million, as well as extended payment terms offered to certain customers during the third quarter of 2016. As a result of the review, which is on-going, the company does not expect to announce its fourth quarter and full year 2016 financial results on March 16, 2017, as previously planned.

The company estimates that its net sales during the quarter ended December 31, 2016 were approximately $54 million.