I:SPX Oct 2023 Weekly 3100.000 Stock Price, News & Analysis

Infinity Pharmaceuticals (NASDAQ: INFI) has announced upcoming presentations on eganelisib, an innovative immuno-oncology therapy, at the 2023 American Association of Cancer Research (AACR) Annual Meeting from April 14-19 in Orlando, Florida. Highlights include preclinical data indicating that PI3K-γ inhibition can convert tumor-associated macrophages in head and neck squamous cell carcinoma and non-small cell lung cancer into activated immune-stimulating cells. Presentation details include sessions by Professor Judith A. Varner of UCSD Moores Cancer Center, focusing on the clinical implications of targeting myeloid cells in cancer. The ongoing MARIO-275 and MARIO-3 trials show promising results in systemic immune activation and tumor microenvironment reprogramming with eganelisib combined with other therapies, reinforcing its potential as a next-generation immunotherapeutic.

Infinity Pharmaceuticals reported its 2022 financial results, ending the year with cash and cash equivalents of $38.3 million, down from $80.7 million in 2021. The company incurred a net loss of $44.4 million in 2022, slightly less than the $45.3 million loss in 2021. Infinity is in the process of merging with MEI Pharma, an agreement expected to close mid-2023, which may provide a combined cash balance of approximately $100 million. The merger aims to advance three clinical oncology candidates, including eganelisib, which will focus on head and neck cancer treatments. However, if the merger fails, Infinity's cash runway could end by mid-2023, necessitating potential strategic alternatives.

MEI Pharma and Infinity Pharmaceuticals have announced a merger agreement to create a combined company that will focus on advancing a diverse clinical-stage oncology pipeline. This includes three drug candidates: eganelisib, voruciclib, and ME-344, targeting various cancers. The merger is expected to be an all-stock transaction, with projected cash balance of approximately $100 million to fund operations through mid-2025. MEI shareholders are expected to own 58% and Infinity shareholders 42% of the new entity. The merger seeks to leverage combined expertise and resources to enhance therapeutic options for patients.

Infinity Pharmaceuticals (NASDAQ: INFI) announced its participation in the Piper Sandler 34th Annual Healthcare Conference from November 29 to December 1, 2022, in New York. CEO Adelene Perkins will lead a fireside chat on November 29 at 4:00 p.m. ET, discussing the company’s lead product, eganelisib, an innovative oral immuno-oncology treatment for cancer. Investors can attend 1-on-1 meetings with Infinity representatives. A replay of the presentation will be available on Infinity's website for 90 days post-event.

Infinity Pharmaceuticals reported a 52% increase in one-year progression-free survival in its MARIO-3 study for eganelisib in front-line TNBC patients, compared to the Impassion130 benchmark. The company aims to announce a partnership to advance eganelisib's development in Q1 2023. Financially, Infinity has $47.2 million in cash as of Q3 2022, down from $80.7 million at the end of 2021. The net loss for Q3 2022 remains unchanged at $10.7 million, with expected net losses for the year between $40 million and $50 million.

Infinity Pharmaceuticals reported promising results from its MARIO-3 study of eganelisib in combination with atezolizumab and nab-paclitaxel for treating front-line metastatic triple negative breast cancer (TNBC). The study showed a 52% increase in one-year progression-free survival (PFS) rates compared to the IMpassion130 benchmark. A total of 62 patients were enrolled, with a median follow-up of 10.0 months. No new safety signals were found, and the treatment profile remained consistent with expectations. This data supports earlier findings regarding eganelisib's potential to improve long-term patient outcomes.

Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) will host a conference call on November 14, 2022, at 8:30 AM ET to discuss its third-quarter financial results. The company is focused on developing eganelisib, an innovative oral therapeutic aimed at reprogramming macrophages in cancer treatment. Clinical studies are underway, including MARIO-3, which examines eganelisib combined with Tecentriq® and Abraxane® in front-line advanced cancer patients, and MARIO-275, focused on urothelial cancer.

Infinity Pharmaceuticals (NASDAQ: INFI) announced its participation in two major investor conferences. The Wells Fargo Healthcare Conference will take place on September 9, 2022, featuring a presentation by CEO Adelene Perkins at 8:00 a.m. ET. The H.C. Wainwright Global Investment Conference is set for September 12, 2022, with a virtual presentation available at 7:00 a.m. ET. Infinity is focused on developing eganelisib, an innovative therapeutic targeting immune suppression in cancer. Presentations can be accessed for 90 days post-event on their website.