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Infinity Pharmaceuticals, Inc.

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Infinity reported narrower than expected loss in the first quarter of 2017. The company is currently focused on the development of its lead immuno-oncology candidate, IPI-549. It is being evaluated in a phase I study for solid tumors. Infinity’s clinical trial collaboration with Bristol-Myers for the evaluation of the IPI-549/Opdivo combination is a big positive for the company. Meanwhile, Infinity has undertaken a significant organizational restructuring, which includes granting the rights to develop and commercialize duvelisib to Verastem, and amending the license agreement with Takeda related to duvelisib and IPI-549. We are positive on the Verastem deal. Shares of the company have outperformed the broader industry year to date. However, Infinity has only IPI-549 in its pipeline, which is a concern.

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