Back to top

Analyst Blog

Infinity Pharmaceuticals Inc. (INFI - Snapshot Report) reported a loss of 68 cents per share in the second quarter of 2013, wider than the Zacks Consensus Estimate of a loss of 61 cents and the year-ago loss of 55 cents. The wider-than-expected loss was primarily due to the absence of revenues this quarter.

Infinity Pharma did not generate any revenue during the second quarter of 2013; however, it had recorded $21.9 million as collaborative research and development revenue in the year-ago quarter.

Other Details

Infinity Pharma’s research and development (R&D) expenses decreased 8.6% to $26.1 million in the second quarter of 2013. The decrease was primarily due to the discontinuation of the company’s Hedgehog pathway development program. The company’s general and administrative (G&A) expenses decreased 12.9% to $6.7 million, mainly because of lower consulting expenses.

Infinity Pharma is working on developing its pipeline. The company intends to present data on retaspimycin hydrochloride from two studies in the second half of 2013. One is in combination with Sanofi’s (SNY - Analyst Report) Taxotere (docetaxel) and the other in combination with Novartis’ (NVS - Analyst Report) Afinitor (everolimus). Both the studies are evaluating retaspimycin HCl for the treatment of non-small cell lung cancer.

The company also has IPI-145 in its pipeline under its phosphoinositide-3-kinase (PI3K) program.  IPI-145 is being developed for several indications at various stages. The company is expecting several data read-outs and trial initiations under this program this year.

2013 Outlook

Apart from releasing its financial results, Infinity Pharma also provided its guidance for 2013. The company now expects 2013 net loss in the range of $135 million to $145 million (previous range: $115 million to $125 million). The company also raised its operating expenses guidance for 2013 to the range of $135 million to $145 million from the previous expectation of $115 million to $125 million.

Infinity Pharma currently carries a Zacks Rank #4 (Sell). Actelion Ltd. (ALIOF), with a Zacks Rank #1 (Strong Buy), currently looks more attractive in the pharma space.

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
PLANAR SYST… PLNR 4.44 +5.21%
BITAUTO HOL… BITA 81.71 +5.12%
CTPARTNERS… CTP 16.66 +4.26%
CHINA BIOLO… CBPO 47.91 +3.30%
MALLINCKROD… MNK 72.94 +2.85%