Boston, MA 02/26/2014 (wallstreetpr) – Infinity Pharmaceuticals Inc. (NASDAQ:INFI) which is a development stage drug maker reported updates from its 4Q operations takes a pause in today’s trading session after a big rally of 15% in yesterday’s trading session.
Strong Drug Development Pipeline
Infinity Pharmaceuticals Inc. (NASDAQ:INFI) disclosed that it has initiated phase 2 study in its target drug Dynamotm in addition to phase 3 tests of Duotm which are its two most potential drugs after its blood cancer drug IPI-145. It is also planning to start the phase 3 tests on Dynamo +R. It also announced that its revolving loan facility has been extended to $100 million.
Update On Lead Drug Candidate IPI-145
Other key highlights from the earnings call, was the update provided by the management team on the prospects of its lead drug candidate IPI-145. Infinity Pharmaceuticals Inc. (NASDAQ:INFI) disclosed that it is reviewing data generated from its 2013 clinical tests to kick start two additional studies which are registered as “Dynamo in indolent non-Hodgkins lymphoma and Duo in chronic lymphocytic leukemia” designed to determine the efficacy of treating the two forms of blood cancer. The development stage drug maker indicated that it will initiate phase 3 tests for this drug candidate in the first half of 2014.
Strong Potential
Infinity Pharmaceuticals Inc. (NASDAQ:INFI) President and Chief Executive Officer Adelene Perkins expressing her high hopes for the target drug, has been quoted to have said that, “Throughout 2013, we made significant progress with IPI-145, demonstrating broad activity and tolerability across multiple hematologic malignancies. Based on the highest monotherapy response rate yet reported with any targeted drug in iNHL, our goal is to establish IPI-145 as the best available treatment in iNHL with broad potential in a number of other hematological malignancies.”
The drug maker, Infinity Pharmaceuticals Inc. (NASDAQ:INFI) has a market cap of $776 million and has accumulated a net loss of $140 million in the past 12 months.
