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Infinity (INFI) Up, Set to Get Duvelisib Milestone Payment

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Infinity Pharmaceuticals, Inc.INFI was up 6.6% after the company announced that the 120th patient has been enrolled in the phase II DYNAMO study. The global, open-label, single-arm study will evaluate the safety and efficacy of duvelisib in patients with refractory indolent non-Hodgkin lymphoma. The company expects to release top-line data from the DYNAMO study in the third quarter of 2016.

Completion of patient enrollment in the DYNAMO study has triggered a $130 million milestone payment from AbbVie Inc. ABBV , the company's worldwide development and commercialization partner for duvelisib in oncology. Infinity Pharma does not generate any product sales. In this scenario, the milestone payment is expected to provide the company with important financial resources.

So far, Infinity Pharma has received an upfront payment of $275 million and is set to receive the above mentioned milestone payment from AbbVie. Additionally, Infinity is eligible for regulatory and commercial milestones payments. While Infinity Pharma and AbbVie will jointly commercialize duvelisib and will share profits equally in the U.S., in ex-U.S. territories AbbVie will be responsible for the development and commercialization of duvelisib. Infinity will be eligible to receive tiered double-digit royalties on net product sales in ex-U.S. territories.

Apart from indolent non-Hodgkin lymphoma, duvelisib is also being evaluated for other indications including previously treated follicular lymphoma (DYNAMO+R - phase III study) and relapsed/refractory chronic lymphocytic leukemia (DUO - phase III study).

Both Infinity Pharma and AbbVie carry a Zacks Rank #2 (Buy). A couple of other well-ranked stocks in the health care sector include Anika Therapeutics Inc. ANIK and Regeneron Pharmaceuticals, Inc. REGN . Both stocks hold a Zacks Rank #1 (Strong Buy).

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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