Key Developments: Infinity Pharmaceuticals Inc (INFI.O)
25.31USD
12:28pm EDT
$-0.30 (-1.17%)
$24.91
$25.60
$25.97
$25.12
375,596
1,047,945
$50.51
$11.02
Latest Key Developments (Source: Significant Developments)
Infinity Pharmaceuticals Inc Announces Closing of Secondary Offering of Common Stock and Exercise of Over-Allotment Option
Infinity Pharmaceuticals Inc announced the closing of an underwritten public offering of its common stock, at a price of $40.00 per share, by existing shareholders Beacon Company and Rosebay Medical Company L.P., including shares that were transferred to Beacon and Rosebay by Purdue Pharma L.P., an associated company of Beacon and Rosebay. The total number of shares of common stock sold was 11,416,565, composed of 10,000,000 shares of common stock initially sold and an additional 1,416,565 shares of common stock sold pursuant to the exercise of the underwriters` over-allotment option. 5,708,282 shares of common stock were sold by Beacon and 5,708,283 shares of common stock were sold by Rosebay. Immediately following the closing, Beacon, Rosebay and Purdue will not hold any shares of Infinity. Infinity did not sell any shares or receive any proceeds from the offering, and the total number of shares of its outstanding common stock has not changed as a result of the offering. The joint book-running managers for the offering were Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. Full Article
Infinity Pharmaceuticals Inc Announces Pricing Of Secondary Offering Of Common Stock
Infinity Pharmaceuticals Inc announced the pricing of an underwritten public offering of common stock by existing shareholders Beacon Company and Rosebay Medical Company L.P., including shares that were transferred to Beacon and Rosebay by Purdue Pharma L.P., an associated company of Beacon and Rosebay, at a public offering price of $40.00 per share. The aggregate size of the offering is 10,000,000 shares, with 5,000,000 shares of common stock offered by Beacon, and 5,000,000 shares of common stock offered by Rosebay. The selling shareholders have also granted the underwriters an option for 30 days to purchase from the selling shareholders up to an additional 1,416,565 shares to cover over-allotments, if any. Assuming closing of this offering and assuming that the over-allotment option is not exercised, Beacon, Rosebay and Purdue collectively own an aggregate of 2.96% of Infinity's outstanding common stock. The offering is expected to close on or about April 16, 2013, subject to the satisfaction of customary closing conditions. Infinity will not sell any shares or receive any proceeds from the offering, and the total number of shares of outstanding common stock will not change as a result of the offering. The joint book-running managers for the proposed offering are Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. Full Article
Infinity Pharmaceuticals Inc Proposes Secondary Offering of Common Stock
Infinity Pharmaceuticals Inc announced an underwritten public offering of its common stock by existing stockholders Beacon Company and Rosebay Medical Company L.P., including shares that will be transferred to Beacon and Rosebay by Purdue Pharma L.P., an associated company of Beacon and Rosebay. The aggregate size of the offering is 8,500,000 shares, with 4,250,000 shares of common stock offered by Beacon, and 4,250,000 shares of common stock offered by Rosebay. Infinity will not sell any shares or receive any proceeds from the offering, and the total number of shares of its outstanding common stock will not change as a result of the offering. The joint book-running managers for the proposed offering are Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. The selling shareholders have also granted the underwriters of the offering an option for 30 days to purchase from the selling shareholders up to an additional 15% of the amount sold to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Full Article
Infinity Pharmaceuticals Inc Issues FY 2013 Earnings Guidance In Line With Analysts' Estimates
Infinity Pharmaceuticals Inc announced that for fiscal 2013, it expects net loss to range from $115 million to $125 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report net loss of $121 million for fiscal 2013. Full Article
Infinity Pharmaceuticals Inc Announces Closing Of Public Offering And Exercise of Over-Allotment Option
Infinity Pharmaceuticals Inc announced the closing of its previously announced underwritten registered public offering of common stock. The total number of shares of common stock sold was 6,551,461, composed of 5,696,923 shares of common stock initially offered and an additional 854,538 shares of common stock sold pursuant to the exercise of the underwriters' over-allotment option, in each case at a public offering price of $26.33 per share. All of the shares in the offering were sold by Infinity. The gross proceeds to Infinity from the offering, before deducting underwriting discounts and commissions and offering expenses, are approximately $172.5 million. The joint book-running managers for the offering were Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. BofA Merrill Lynch and Deutsche Bank Securities Inc. acted as co-lead managers. Additionally, Stifel Nicolaus Weisel acted as co-manager. Full Article
Infinity Pharmaceuticals Inc Prices Public Offering Of Common Stock
Infinity Pharmaceuticals Inc announced that the pricing of an underwritten registered public offering of 5,696,923 shares of its common stock at a public offering price of $26.33 per share. All of the shares in the offering are to be sold by Infinity. The offering is expected to close on or about December 18, 2012, subject to the satisfaction of customary closing conditions. The joint book-running managers for the proposed offering are Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting as co-lead managers. Additionally, Stifel Nicolaus Weisel is acting as co-manager. Infinity has granted the underwriters a 30-day option to purchase up to an additional 15% of the amount sold to cover over-allotments, if any. Full Article
Infinity Pharmaceuticals Inc Announces Proposed Public Offering Of Common Stock
Infinity Pharmaceuticals Inc announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares in the offering are to be sold by Infinity. The joint book-running managers for the proposed offering are Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting as co-lead managers. Additionally, Stifel Nicolaus Weisel is acting as co-manager. Infinity intends to grant the underwriters a 30-day option to purchase up to an additional 15% of the amount sold to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering. Infinity anticipates using the net proceeds from the offering for research and development expenditures (including costs associated with the continuing clinical development of its product candidate IPI-145), as well as for working capital, capital expenditures, potential acquisitions of new businesses, technologies or products that the company believes have the potential to complement or expand its business, and other general corporate purposes. Full Article
Infinity Pharmaceuticals Inc Reports Phase 1 Data For Ipi-145 At ACR/ARHP Supporting Development In Inflammatory Conditions
Infinity Pharmaceuticals Inc announced new data from its completed Phase 1 study of IPI-145, the Company`s potent, oral inhibitor of phosphoinositide-3-kinase (PI3K)-delta and PI3K-gamma. The data showed that IPI-145 was well tolerated and demonstrated favorable pharmacokinetics following administration of single and multiple doses in healthy adult subjects. Infinity also presented data demonstrating the activity of IPI-145 in preclinical models of rheumatoid arthritis (RA). These findings were presented at the American College of Rheumatology (ACR)/Association of Rheumatology Health Professionals (ARHP) 2012 Annual Meeting held in Washington, DC. The Phase 1, double-blind, randomized, placebo-controlled trial of IPI-145 in healthy adult subjects evaluated single doses of IPI-145 ranging from 1 mg to 30 mg. Multiple doses of IPI-145 ranging from 1 mg twice daily (BID) to 5 mg BID for 14 days and 10 mg once daily (QD) for 14 days were also evaluated. In addition, the effect of food on the pharmacokinetics of IPI-145 was studied. One hundred six patients were enrolled in the Phase 1 trial. Pharmacokinetic data showed that IPI-145 was rapidly absorbed, with a dose-proportional increase in exposure. The half-life of IPI-145 following 14 days of dosing ranged from approximately seven to 12 hours, supporting BID dosing in ongoing trials. Full Article
Infinity Pharmaceuticals Inc Announces Chairman Change-Form 8-K
Infinity Pharmaceuticals Inc reported in its Form 8-K that On November 2, 2012 Steven H. Holtzman, the Chair of Board of Directors notified the Board of his decision to resign from Board effective immediately. Mr. Holtzman indicated that he decided to resign to avoid the potential for a conflict of interest between his role as a member of Infinity’s Board of Directors and his role as executive vice president, corporate development of Biogen Idec Inc. that could have arisen from both companies having product development programs focused on inflammatory disorders. On November 5, 2012, following the resignation of Mr. Holtzman as the Chair of Board, the Board elected Adelene Q. Perkins, President and CEO of the Company, to Chair of the Board. Full Article
Infinity Pharmaceuticals Inc Issues FY 2012 Mixed Guidance
Infinity Pharmaceuticals Inc announced that for fiscal 2012, it expects total revenue to be $47.1 million, composed of $45.0 million for reimbursed R&D services from Mundipharma and $2.1 million due to the amortization of deferred revenue. Infinity does not expect to recognize any revenue in future periods from the previous strategic alliance with Purdue and Mundipharma; and net loss for fiscal 2012 to range from $35 million to $45 million. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $61.7 million and net loss of $79 million for fiscal 2012. Full Article
BRIEF-Infinity Pharma shares off 4.1 pct premarket
NEW YORK, April 11 - Infinity Pharmaceuticals Inc : * Shares off 4.1 percent premarket after pricing of secondary offering
Earnings vs. 
Estimates
Thomson Reuters is the world's largest international multimedia news agency, providing investing news, world news, business news, technology news, headline news, small business news, news alerts, personal finance, stock market, and mutual funds information available on Reuters.com, video, mobile, and interactive television platforms. Thomson Reuters journalists are subject to an Editorial Handbook which requires fair presentation and disclosure of relevant interests.
NYSE and AMEX quotes delayed by at least 20 minutes. Nasdaq delayed by at least 15 minutes. For a complete list of exchanges and delays, please click here.
