Boston, MA 06/05/2013 (wallstreetpr) – The share prices of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) had surged by 23.46 percent to close at $20.26 per share by the end of last trading session on Tuesday. The shares of the pharmaceutical company had opened at $18.01 per share and had been trading in the range of $17.32 to $20.49 per share during the day, before closing at $3.85 higher than the previous close on Monday. The shares of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) had recorded 52 week high price level of $50.52 per share and 52 week low price level of $11.02 per share.
The pharmaceuticals company had recently announced its data from Phase I studies of IPI – 145, the oral inhibitor of the drug PI3 – K delta and PI3 – K gamma which were tested on patients relapsed/refractory chronic lymphocytic leukemia. Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is primarily involved in the development and commercialization of treatment drugs and therapies for hematologic malignancies and inflammatory diseases. The clinical trials are being conducted for the development of the company’s lead product candidate, IPI – 145 and its oral inhibitors which are to be used for treating both hematologic malignancies and inflammatory diseases.
The shares of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) had witnessed heavy trading volumes at nearly 6 times their average trading volume on the last trading session on Tuesday. The pharmaceutical company experienced the trade of nearly 12.72 million shares in the market on Tuesday, while the average trading volume of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is at 1.98 million shares per day.
