Nasdaq: INSY

Safe Harbor Statement

This presentation contains both historical information and forward-looking statements.
Forward-looking statements are based on management's current expectations and
assumptions as of the date of this presentation, and actual results may differ materially
from those in these forward-looking statements as a result of various factors, including
many which are beyond Insys control.
Such factors include, but are not limited to risks regarding: Insys' ability to commercialize
products successfully; Insys ability to successfully manage its commercial relationships and
sales infrastructure; Insys ability to obtain anticipated governmental or regulatory
approvals; Insys failure to comply with post-approval regulatory and governmental
requirements; the actual sales potential and opportunity of identified markets; and Insys
ability to realize the expectations of its pipeline and product candidate plans and
timelines. For a further description of these and other risks facing Insys, please see the risk
factors described in the company's filings with the United States Securities and Exchange
Commission, including those factors discussed under the caption Risk Factors in those
filings.
All the information included herein is dated information concerning the company. The
company disclaims and does not undertake any obligation to update or revise any forward-
looking statements or historical information contained herein.

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Company Mission

MISSION
INSYS Therapeutics is a specialty pharmaceutical company that develops and
commercializes innovative drugs and novel drug delivery systems for therapeutic
molecules that improve the quality of patients' lives.
Using our proprietary sublingual spray technology and our capabilities to develop
pharmaceutical cannabinoids, we work to address the clinical shortcomings of existing
commercial products.
Company Highlights
Vertically integrated specialty pharmaceutical company focused on
supportive care indications

Two proprietary drug platforms

Sublingual spray technology
Pharmaceutical-grade cannabinoids: leader in domestic production and development

Market-leading brand in breakthrough cancer pain treatment -- Subsys

Near-term growth drivers

Syndros (dronabinol oral solution) NDA; Annual sales potential over $200 million

Multiple pipeline programs

Label expansion opportunities: Subsys and Syndros
Drug Development of Cannabidiol and Sublingual spray products

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Two Drug Development Platforms

SUBLINGUAL SPRAY TECHNOLOGY

Drug delivery via a fine mist beneath the tongue
Targeting supportive care & other markets where
patients can benefit from spray product
characteristics (e.g., ease of use/ application,
clinically beneficial faster speed of onset)
Developing additional IP protection

PHARMACEUTICAL CANNABINOIDS
Dronabinol oral solution candidate, Syndros,
to be positioned as a best-in-class
pharmaceutical THC product
Emerging cannabidiol (CBD) product pipeline
only active DMF for pharmaceutical CBD

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 Insys Pipeline Overview: An Emphasis on R&D
Pre-
Drug Candidate Disease State Phase 1 Phase 2 Phase 3 Submit Approval
Clinical
Opioid nave and Cancer
Subsys Label Expansion indications Dose Ranging Studies Completed

Fentanyl / Naloxone Breakthrough cancer In

SUBLINGUAL SPRAYS

Combination pain Development

Buprenorphine
Acute Pain Phase 3 Completed
Sublingual Spray
Buprenorphine / Naloxone In Development
Opioid Dependence
Sublingual Spray
Naloxone Sublingual Spray Opioid Antagonist In Development

Ondansetron Sublingual Nausea and Vomiting in

Spray Cancer Chemotherapy In Development

(i) CINV & (ii) Appetite

CANNABINOIDS

Syndros Stimulation in AIDS Approved; awaiting DEA scheduling

Patients indication
(i) Alzheimers Agitation In Development
Syndros Label Expansion (ii) Cachexia
(i) Epilepsy and other PK Study in refractory epilepsy
Cannabidiol indications completed

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Spray Technology Multiple Growth Opportunities
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Fentanyl/
Naloxone Naloxone

Buprenorphine/ Ondansetron
Naloxone

Buprenorphine Subsys

Epinephrine Sildenafil

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Subsys Sublingual Fentanyl Spray

Most prescribed product in TIRF market

Indicated for breakthrough pain in opioid-tolerant cancer

patients

Total TIRF US sales of approximately $740 million1

Launched 2012
Onset of action as
early as 5 minutes
Four Orange Book listed patents for Subsys (2 expire 2027; 2 Seven doses from 100
expire 2030) and two pending U.S. patent applications to 1,600mcg
Simple one-step
administration process
takes < 1 minute
Continue to expand commercial presence

1. Symphony Health Analytics, based on Average Wholesale Price (AWP) from December 2015 through November 2016
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Subsys Lifecycle Management: Potential Indications
Securing the longevity of the Subsys franchise

Post-
Operative

Complex
Burn
Regional
Dressing
Pain
Potential Changes
Syndrome
Opioid Nave and
Cancer Indications

Bone
Radiation
Marrow
Oncology
Biopsy

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Dose-selection for Studies in Opioid-Nave Population:
Single Ascending Dose Study
Subsys dose escalation
100 mcg x 1
200 mcg x 1
400 mcg x 1 800 mcg
600 mcg x 1
800 mcg x 1
Comparator: 600 mcg

Fentanyl 50 ug i.v. x 1

400 mcg

200 mcg

Study Completed:
100 mcg Subsys generally well tolerated

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Dose-selection for Studies in Opioid-Nave Population:
Multiple Ascending Dose Study
Doses (100, 200, 400 mcg)
Subsys q 4 hours x 3 doses

0 4 8 12 hours

Subsys q 2 hours x 3 doses

=Dose
0 4 8 12 hours

Subsys q hour x 3 doses

0 4 8 12 hours
Subsys q 30 minutes x 3 doses

=Dose
=Dose
=Dose
0 4 8 12 hours
Comparator: Fentanyl i.v. 50 ug
Study Completed:
Subsys generally well tolerated
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Summary: Dose-selection for Indications in Opioid-Nave Population

Single Ascending
Subsys generally well tolerated
Dose Study

Multiple Ascending
Subsys generally well tolerated
Dose Study

100 ug and/or 200 ug doses optimal for development

of future indications in opioid-nave subjects

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 Potential Additional Indication
Reduction of pain associated with a BONE MARROW BIOPSY procedure

Phase 3 Endpoints
Significant limitations with pain
management options during BMB Summed Pain
Multi-center,
Bone e.g. local anesthetics, sedatives,
randomized, Intensity Difference
inhalation anesthetics
Marrow placebo- Score
Pain during bone marrow biopsy controlled trial
Biopsy (BMB) under local anesthesia (LA) Patient Assessments
is reported in 70% of patients (35%
-severe pain)1

1Lidn,
Y., Landgren, O., Arnr, S., SJlund, K.-F. and JohanssoN, E. (2009), Procedure-related pain among adult patients with hematologic malignancies. Acta
Anaesthesiologica Scandinavica, 53: 354363.

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Bone Marrow Procedures Study Design
Phase 3, Double-blind, Placebo Controlled
Study Medication administered prior to procedure
N = 150

Randomized 1:1 ratio

Treatment Visit
Screening Visit

Endpoints
Group A: 200 mcg

N = 150 Primary: Summed

Pain intensity
difference (SPID)
Group B: Placebo

Day -7 to Day 1 Day 1

Timeline
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Protocol submitted to FDA: 4Q 2016
Study Initiation: 1H 2017 (pending FDA feedback)
 Potential Additional Indication
Reduction of pain associated with a DRESSING CHANGES for BURN INJURIES

Phase 3 Endpoints

Burn Injuries Receiving Medical Multi-Center, Patient Rating of

Treatment: 486,000/ year1 Dose-Ranging Pain Control
Study of fentanyl
Burn Hospitalizations Related to Burn sublingual spray
(Numeric Rating
Scale)
Injury: 40,000, including 30,000 at for the treatment
hospital burn centers 2 of procedural pain
Patient Satisfaction
in burn patients
of Pain Control

1 National
Hospital Ambulatory Medical Care Survey: 2011 Emergency Department Summary Tables
2American Burn Association National Burn Repository;National Inpatient Sample (HCUP-NIS: 2010 data); National Hospital Discharge Survey (2010 data); recent
100% hospitalization data from several states.

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Burn Dressing Changes Study Design
Phase 3, Double-blind, Placebo Controlled
Study Medication administered prior to procedure
N = 150

Randomized 1:1 ratio

Screening Visit

Treatment Visit

Endpoints
Group A: 200 mcg
Primary: Summed
N =96 Pain intensity
difference (SPID)
Group B: Placebo

Day -7 to Day 1 Day 1

Timeline
Submitted Protocol to FDA: 4Q 2016
Study Initiation: 1H 2017 (pending FDA feedback)
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 Potential Additional Indication
Reduction of Anticipated Pain in a Radiotherapy Setting

A Randomized, Placebo-Controlled, Single-Dose Study of SUBSYS to Manage

Anticipated Pain in a Radiotherapy Setting

Opioid Naive
SUBSYS 200 mcg

R
Screening Visit

Opioid Naive
PLACEBO Primary Endpoint:
N= 120 - Summed Pain intensity difference
(SPID)
Opioid Tolerant
SUBSYS 400 mcg
R
Day -14 Opioid Tolerant
PLACEBO

Study Medication administered prior to radiotherapy session

Timeline
File IND: 1H 2017
Study Initiation: 2H 2017 (pending FDA feedback)

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Cannabinoids - Growth Strategy
Syndros
Approved July 2016 for Nausea /
Vomiting Associated with Cancer
Chemotherapy and Anorexia / Weight
Loss in Patients with AIDS

Life Cycle Management

Alzheimer's Agitation
Cachexia
Inhaled delivery

Cannabidiol
Pediatric Epilepsies
Addiction
PTSD

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 Syndros Commercial Opportunity
Market Trends Prescriber Overview1,4
5% annual market growth rate over the
past 3 years1
Growing market with no existing brand or
current promotional activity
45% 55%
Concentrated universe of ~9,500
prescribers write 70% of prescriptions2
Two-pronged sales and marketing
strategy:
Opportunity
Convert existing market $525 M gross sales
opportunity at brand pricing3
Expand usage through direct detailing to Peak Sales potential in excess of $200M
physicians - highlighting improved product profile

NIH (dailymed website) (1) 2012-2014 Health Source Analytics TRx data (2) 2015 Symphony Health Solutions TRx data (3) IMS Health and Medispan (4)
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Dronabinol Prescribers 2014
Dronabinol Lifecycle Management

Potential Indication:
Treatment of agitation in Alzheimer's Disease

Estimated 5.2 million people with Alzheimers disease in the United States
Incidence rates of agitation in patients with mild-to-moderate Alzheimers
disease are 20% to 40% after one year and up to 50% to 60% after two
years**
Primary predictor of nursing home placement (family members can no
longer handle care at home)
More rapid disease progression

*(Chan et al 2003; Cohen Mansfield et al 1986; Finkel et al., 1996) 19

** (Hope et al., 1999)
Agitated behavior in Alzheimers Disease
A Phase 2 Randomized, Placebo-controlled, Double-Blind Study to assess the
Efficacy, Safety and Tolerability of Dronabinol Oral Solution for the Treatment
of Agitation in Patients with Alzheimers Disease.

N = 166

7.5 mg/day
Blinded titration
Screening Visit

Primary end point

period

Randomized

1:1:1 Ratio 3.75 mg/day mADCS-CGIC*

Placebo

2 wks 12 Week double-blind Treatment

period
Timeline
Pre IND Meeting : 1H 2017
Study Initiation: 2H 2017 (pending FDA feedback)
*modified Alzheimers Disease Cooperative Study Clinical Global Impression of Change 20
Cannabinoid Manufacturing Capabilities

U.S.-based facility Expanding Capable of producing

approved to produce manufacturing capacity
pharmaceutical to support future
dronabinol (THC) and demand
cannabidiol (CBD) with Constructed second facility to
scale for commercial manufacture API for
quantities dronabinol oral solution and
pharmaceutical CBD
over 99% pure CBD
synthetically in a
controlled environment
Received Drug Master File
(DMF) #28255 from FDA
in Q2 2014
DEA-approved to manufacture
CBD in Oct. 2014
Quota increased by 200 kg in
August to 290 kg CBD

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 Cannabidiol: Addressing Unmet Medical Needs
Six Orphan
Epilepsy and Other Indications
Drug Designations Granted

Dravet Syndrome1: rare, catastrophic Chemo-induced Peripheral Neuropathy

form of intractable epilepsy that begins in (CIPN)
infancy
Affects one in 20,000 - 40,000 Post-traumatic stress disorder (PTSD)
Lennox-Gastaut Syndrome1: severe form
of epilepsy with typical onset at 2 6
years of age
Represents 2% - 5% of all pediatric Investigator Initiated Trials
epilepsy cases
Infantile Spasms (West Syndrome)
Assess CBD effects on: Cocaine,
Represents one in 98,0002
Amphetamine, Opioid Dependence
Glioblastoma multiforme
Assess CBD effects on: Anxiety,
Pontine glioma Analgesia

Pediatric Schizophrenia

1 Epilepsy Foundation Dravets and LGS

2 Hrachovy RA, Jr JDF. Pedicatric Neurology Part I. In: Dulac O, Lassonde M, Sarnat HB, eds. Handbook of Clinical Neurology. Vol III: Elsevier B.V.; 2013:611-618. 22
Building a Deep Pipeline for Future Growth

Buprenorphine/ Naloxone Buprenorphine Subsys Acute

Naloxone For treatment of Sales of 3.9 million Pain Indication
Indicated for opioid overdose units in 2014 Lead indication
treatment of opioid Initial development FDA pre-NDA meeting among lifecycle
dependence in using sublingual 4Q16 opportunities
combination with delivery device Currently evaluating Phase 2 study
Naloxone Nasal spray currently next steps ongoing
Classified as a in development NDA target
Schedule III Fast-track designation submission 1H 2018
substance by the DEA
Currently in clinical
trials at Insys
$1.8 Billion market
led by Suboxone

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Insys Financial Snapshot
Cash flow generated will fund future growth
$217.2 million in cash, cash equivalents & investments as of September 30, 2016
No debt

Revenue ($mm) Adjusted EBITDA ($mm)

$100 $91.3$91.1 $50
$44.0
$90 $45
$77.6 $39.3
$80 $70.8 $40
$66.5 $67.1
$70 $62.0 $35
$60 $55.7$58.3 $55.2 $30
$23.7 $24.5
$50 $25 $21.5 $21.0
$40.2$41.6 $19.8
$40 $20 $17.1$15.7
$29.2 $14.3
$30 $15
$9.5 $10.8 $9.6
$20 $10
$10 $5
$0 $0
Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3' Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 ' Q4 ' Q1 Q2 Q3
'13 '13 '14 '14 '14 '14 '15 '15 '15 '15 '16 '16 16 '13 '13 '14 '14 '14 '14 '15 '15 15 15 '16 '16 '16

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Growth Strategy

Life Cycle
Management
Advancing 4 Subsys
programs
Advancing 3 Syndros
programs
Publications for Subsys
and Syndros
New Products
CBD- Multiple new
indications targeted
Multiple sublingual
sprays in development

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Insys Investment Highlights

Market leading positions: Subsys and pharmaceutical cannabinoids

Significant near-term organic growth drivers over the next five years

Product platforms with a pipeline of current and future product candidates

Strong intellectual property protection and barriers to entry for both product
platforms

Management team with a proven track record of clinical, regulatory and

commercial execution

Commitment to generating highly profitable growth

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