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Infinity (INFI) Reports Narrower-than-Expected Loss in Q4

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Infinity Pharmaceuticals, Inc. reported a loss of 46 cents per share in fourth-quarter 2016, much narrower than the Zacks Consensus Estimate loss of 63 cents. Also, in the year-ago quarter, the company had reported loss of 80 cents.

Since Infinity does not have any approved product in its portfolio, the company earns revenues in the form of royalties, license and milestone payments as well as research and development (R&D) support fees paid by its partners.

Infinity did not record any revenue during fourth-quarter 2016. But it had recorded collaboration revenue of $9.08 million in the year-ago quarter.

Infinity’s share price has increased considerably by 104.5% year to date, while the Zacks classified Medical-Drugs industry gained 3.9%.

Quarter in Detail

In the reported quarter, R&D expenses plummeted 62.3% to $14.7 million. General and administrative (G&A) expenses were $8.6 million for the reported quarter, down 8.3% year over year.

Currently, Infinity is evaluating IPI-549 as a monotherapy and in combination with Opdivo (nivolumab) in a phase I study in patients with advanced solid tumors.

The company anticipates completing the monotherapy dose-escalation phase of the study in the first half of 2017 and also initiating a monotherapy expansion cohort in the second half of 2017. In addition, it expects to complete the dose-escalation phase evaluating IPI-549 in combination with Opdivo in the second half of 2017, and initiate multiple combination expansion cohorts.

2016 Results

In 2016, the company incurred loss of 61 cents per share compared with loss of $2.62 in 2015.

For full-year 2016, revenues were $18.7 million related to Infinity's previous collaboration agreement with AbbVie Inc. (ABBV - Free Report) compared with $109.1 million in 2015.

2017 Outlook

In 2017, Infinity expects net loss for 2017 to be in the range of $40 million to $50 million. Mention zacks consensus estimate for 2017. Moroever, the company expects to end 2017 with year-end cash and cash equivalents as well as available-for-sale securities balance, ranging from $40 million to $50 million.

 

Infinity Pharmaceuticals, Inc. Price, Consensus and EPS Surprise

 

Infinity Pharmaceuticals, Inc. Price, Consensus and EPS Surprise | Infinity Pharmaceuticals, Inc. Quote

Zacks Rank & Stocks to Consider

Infinity is a Zacks Rank #3 (Hold) stock. Some better-ranked stocks in the health care sector include Heska Corporation and Retrophin, Inc. . Heska and Retrophin carry a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Heska’s earnings estimates increased from $1.53 to $1.65 for 2017 and from $1.90 to $2.01 for 2018 over the last 30 days. The company posted a positive earnings surprise in all of the four trailing quarters with an average beat of 291.54%. Its share price increased 30.7% year to date.

Retrophin’s loss estimates narrowed from 85 cents 72 cents for 2017 and from 67 cents to 53 cents for 2018 over the last 30 days. The company posted a positive earnings surprise in three of the four trailing quarters with an average beat of 80.55.

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