If you are talking about a Thermaxx type form board.
THERMAX™ Sheathing is a non-structural, rigid board insulation consisting of a glass-fiber-reinforced polyisocyanurate foam core laminated between 1.0 mil smooth, reflective aluminum foil facers on both sides. The reinforcement, along with chemical modifications, contributes to fire resistance and dimensional stability. THERMAX™ Sheathing can be installed exposed to the interior without a thermal barrier and is especially appropriate for hourly rated assemblies.
Kind of expensive, but the best R value of all the foams. I would just insulate above the dry wall with fiber or paper( if you have access).