Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) Drops As Earnings Beat

Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

Shares of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) fell 13.93% after the company reported on its Phase 1 clinical data for IPI-549, an oral selective phosphoinositide-3-kinase-gamma targeting immune-suppressive tumor macrophages. Trial results indicate that the candidate drug was well tolerated and clinically active.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

Clinical Trial Results

The sell-off on Infinity Pharmaceuticals Inc. (NASDAQ:INFI) stock comes as a surprise, given that the biopharmaceutical company is fresh from posting a narrower than expected third-quarter net loss. However, the stock is still trading in an uptrend despite coming under pressure in recent trading sessions. The stock is up by more than 60% for the year, as it continues to outperform the overall industry.

The positive IPI-549 and Q3 financial results should affect the stock’s direction of trade heading into the end of the year.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is evaluating IPI-549 as a monotherapy and in combination with Opdivo in patients with advanced tumors.

There is a significant need for better treatment options to take care of patients who do not respond to existing immunotherapies.

“In particular, patients with mesothelioma and adrenocortical carcinoma have limited effective treatment options, and our early evidence of activity suggests the potential for IPI-549 to improve outcomes for these patients,” said CEO Adeline Perkins.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is to report data from a monotherapy expansion component of the study in the first half of 2018. The company also plans to report data from a combination expansion component in the first half of next year.

Infinity Q3 Financial Results

For the three months ended September 30, 2017, Infinity Pharmaceuticals posted a net loss of (-$7.1) million or (-$0.14) million, compared to a net loss of (-$19.5) million reported last year. Revenue in the quarter totaled $6 million related to amounts due from Verastem for the DUO study.

Restructuring activities in the quarter resulted in research and development expenses dropping to $9.3 million, from $12.8 million reported last year. Infinity Pharmaceuticals exited the quarter with cash and cash equivalent of $55.6 million compared to $66.2 million as of June 30, 2016. General and Administrative expenses also dropped because of the restructuring activities to $4.5 million from $7.1 million a year ago.

For the full year, the biopharmaceutical company is projecting a net loss of between $40 million and $50 million. Cash and cash equivalents should range from $40 million and $50 million.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $INFI and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Monica has an undergraduate degree in Accounting and an MBA she earned – with Honors. She has six years of experience in the financial markets and has been an analyst for the past two years.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) Explodes on Outperform Rating

Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

Shares of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) more than doubled in value after the biopharmaceutical company said it will make a key presentation at the 2017 Society for Immunotherapy of Cancer (SITC) Annual Meeting. The stock was also up by 123% after analysts at Wells Fargo upgraded the stock to an ‘outperform’.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI)

Wells Fargo Upgrade

Thursday’s rally brought an end to a sell-off that has plagued the stock since April. The stock of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) came under pressure after rising to $3.50 a share, resulting in a drop below $1 a share. Infinity stock is now up by more than 130% for the year, after closing above $3.50.

Analysts at Wells Fargo believe the stock has some room to run on the upside as infinity Pharmaceuticals moves to make a presentation on IPI-549, an orally administered immuno-oncology development candidate.

IPI-549 has the potential to treat a broad range of solid tumors. Wells Fargo analyst Jim Birchenough believes the cancer therapy has a high likelihood of proof of concept data.

” … With likely validation of tumor macrophage targeting in immuno-oncology and a unique mechanism of action, we see upside potential not reflected at current stock price,” Birchenough said.

The analyst has since increased his share price target on the stock from $1 to $5 a share.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) is to make a presentation on a Phase 1/1b clinical study which is evaluating the safety and activity of IPI-549. The company is investigating the candidate drug as a monotherapy and in combination with Opdivo for patients struggling with advanced tumors. Reports indicate that IPI-549 could be the only P13K-gamma inhibitor in clinical development.

Wider Than Expected Net Loss

Development of IPI-549 and the Wells Fargo update has helped renew investor interest in infinity Pharmaceutical after a wider than expected second-quarter net loss triggered a sell-off. The biopharmaceutical company reported a net loss of (-$0.34) cents a share wider than consensus estimates of a net loss of (-$0.22) cents a share.

Since Infinity Pharmaceuticals Inc. (NASDAQ:INFI) does not have any approved product in the market, it likely needs to get everything right on the development of IPI-549 if it is to continue trading at higher levels. The company did not generate any revenues in the recent quarter compared to collaboration revenues of $9.5 million reported last year – mostly from royalty, license and milestone payments.

I have no positions in any of the stocks mentioned, and have no plans to initiate any positions within the next 72 hours. All information, including any data, is provided without any guarantees of accuracy.

Don’t miss out! Stay informed on $INFI and receive breaking news on other hot stocks by signing up for our free newsletter!

About the author: Steve Clark is a 23-year Wall St professional with stints in M&A, risk management, and algorithm trading. Steve keeps his head in the game by looking for, and writing about, small companies that often get overlooked by the big investment firms.

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) Updates Phase I Trial Report

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.

The update

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.

3/15/2017
Ticker Symbol INFI
Last Price a/o 3:21 PM EST  $2.95
Average Volume 1.18M
Market Cap (mlns)  $146.27M
Shares Outstanding (mlns) 49.58M
Share Float (mlns) 48.64M
Inside Ownership 1.10%
Short Float 6.95%
Short Interest Ratio 2.86
Quarterly Return 104.86%
YTD Return 118.52%
Year Return -55.44%

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

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.