Infinity Pharmaceuticals Inc.
) shares have been declining ever since it announced its first
quarter results on May 6. The company's shares have declined 6.9%
so far. Infinity Pharma reported a loss of 87 cents per share in
the first quarter of 2014, wider than the Zacks Consensus Estimate
of a loss of 80 cents and the year-ago loss of 57 cents per share.
The wider loss was attributable to higher operating expenses.
Infinity Pharma did not generate any revenue during the first
quarter of 2014, similar to the year-ago quarter.
Infinity Pharma's research and development (R&D) expenses were
up 70.4% to $34.5 million in the reported quarter. The increase was
primarily due to higher clinical expenses related to the pipeline.
The company's general and administrative (G&A) expenses
declined 8.4% to $6.8 million.
Infinity Pharma has progressed well with its pipeline. The company
also has a series of pipeline related events lined up in the coming
quarters. The company expects to initiate a phase III study
(DYNAMO+R) on IPI-145 in combination with
Biogen Idec Inc.
) Rituxan (rituximab) in patients suffering from relapsed indolent
non-Hodgkin lymphoma (iNHL) later in the year.
Infinity Pharma also has plans to start a phase II study on IPI-145
for the treatment of treatment-naïve patients suffering from iNHL.
Infinity Pharma is currently evaluating IPI-145 in patients
suffering from iNHL in the phase II DYNAMO study. The primary
objective of the study is to evaluate the response rate as per the
International Working Group criteria.
The company is also running a phase III study on IPI-145 in
patients suffering from chronic lymphocytic leukemia. IPI-145 is
also being developed for the treatment of mild allergic asthma
(phase IIa) with top-line data expected later in the year. Results
from another phase II study on the candidate in patients suffering
from moderate-to-severe rheumatoid arthritis are expected later
Infinity Pharma maintained its 2014 operating expenses guidance
within $170−$180 million and net loss guidance in the range of
We are encouraged by the company's progress with IPI-145. We expect
investor focus to remain on the candidate going forward.
Infinity Pharma, a biopharmaceutical company, currently carries a
Zacks Rank #3 (Hold). A better-ranked stock worth considering is
Spectrum Pharmaceuticals, Inc.
) carrying a Zacks Rank #1 (Strong Buy).
Want the latest recommendations from Zacks Investment Research?
Today, you can download 7 Best Stocks for the Next 30 Days.
Click to get this free report
BIOGEN IDEC INC (BIIB): Free Stock Analysis
INFINITY PHARMA (INFI): Free Stock Analysis
ROCHE HLDG LTD (RHHBY): Free Stock Analysis
SPECTRUM PHARMA (SPPI): Free Stock Analysis
To read this article on Zacks.com click here.