Infinity Pharmaceuticals Inc. (NASDAQ:INFI)
Infinity Pharmaceuticals Inc. (NASDAQ:INFI) released its full-year 2016 financial report and announced a program update on the firm, including its development of IPI-549, a possibly first-in-class immuno-oncology drug candidate that selectively constrains PI3K-gamma.
Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is assessing IPI-549 as a single treatment and in combination with Opdivo®, in a Phase 1 trial in people suffering with advanced solid tumors. A revised report from the trial will be showcased in April at the AACR Annual Meeting 2017. IPI-549 is considered to be the lone selective PI3K-gamma inhibitor currently in clinical advancement.
The company expects closing the monotherapy dose-escalation study phase in the first half of this year and initiating a monotherapy development cohort in H2 2017. Infinity also anticipates to complete the dose-escalation stage assessing IPI-549 drug in combination with Opdivo in H2 2017, and subsequently start multiple combination development cohorts.
These combination expansion cohorts will contain subjects with NSCLC, melanoma, and SCCHN whose tumors demonstrate initial resistance or subsequently advance resistance to immune checkpoint treatment. There is a great need for further treatment options for the increasing population of patients living with these deadly cancers – accounting for over 17% of all fresh cancer cases in the United States.
Adelene Perkins, the Chairperson and CEO of Infinity Pharmaceuticals Inc. (NASDAQ:INFI), reported that they are extremely delighted with the progress they have recorded in their Phase 1 clinical trial of IPI-549. Both the combination dose-escalation and monotherapy phases of the trial have been rapidly registering, and they are on track to start numerous development cohorts later this year.
While new immunotherapies, like checkpoint inhibitors, are demonstrating great promise in the cure of different cancers, additional treatment alternatives are required for people who relapse or do not respond to currently available treatments. The preclinical report recently published in Nature show that IPI-549 reprograms macrophages to an “anti-tumor” phenotype from a “pro-tumor”, offering a compelling rationale for their ongoing clinical study.
Jeffery Kutok, M.D., Ph.D., was promoted to CSO in February, wherein he will be accountable for overseeing translational science and biology efforts, counting preclinical associations, to support the ongoing advancement of IPI-549. Dr. Kutok is a part of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) since 2010 and last was promoted to VP, biology and translational science back in 2013.
In the last trading session, the stock price of Infinity gained more than 1% to close the trading session at $2.95, with the market cap at $146.27 million.
|Last Price a/o 3:21 PM EST||$2.95|
|Market Cap (mlns)||$146.27M|
|Shares Outstanding (mlns)||49.58M|
|Share Float (mlns)||48.64M|
|Short Interest Ratio||2.86|
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About the author: Monica Gray has an undergraduate degree in Accounting and an MBA – earned with Honors. She has six years of experience in the financial markets and has been a securities analyst for the past two years.