Infinity Pharmaceuticals Inc (NASDAQ:INFI) Stock Turns Volatile: Should You Buy Now?
Shares of Clinical stage biopharmaceutical company, Infinity Pharmaceuticals Inc (NASDAQ:INFI) fell by 31.50% to $1.52 on July 27, 2021 following clinical study data for cancer drug eganelisibas well as its second-quarter results.
The firm gave updates from Phase 2 study assessing the drug in combination with nivolumabas well as from Phase 2 study of eganelisibwith atezolizumab and nab-paclitaxel.
Infinity said that data demonstrated that eganelisibaugmented overall survival in patientshaving metastatic urothelial cancer as well as prolonged progression of survival in triple-negative breast cancer patients. The firm reported loss of 13 cents a share in second quarter.
Chief Executive Officer and Chair, Infinity Pharmaceuticals,AdelenePerkinssaid said that the data shows eganelisib re-programs macrophages in tumor microenvironment, transforming pro-tumor, M2, macrophages into anti-tumor, M1, macrophages and ameliorating patient outcomes in two distinct types of cancer.
If it is combined with standard of care therapies, it demonstrates that the augments survival in patients with metastatic urothelial cancer.
Brian Schwartz, M.D., consulting Chief Physician, Infinity Pharmaceuticals, said that the promising survival benefit after more than a year of following MARIO-275 patients as compared to historical trials including CheckMate-275. Schwartz added that the survival represents a key endpoint and the company is exploring study design and give updates by end of the year.
Erika Hamilton, M.D., Director, Breast Cancer and Gynecologic Cancer Research Program, Tennessee Oncology, and Lead Study Investigator for MARIO-3, said that the emerging data from MARIO-3 is encouraging and shows improvement in disease control rate. Hamilton added that the results are consistent with MARIO-275.
