SPY313.78-3.27 -1.03%
DIA259.04-3.96 -1.51%
IXIC10,343.89-89.76 -0.86%

Infinity Pharmaceuticals Sees FY20 Net Loss $40M-$50M; Issues Development Guidance

2020 Financial Guidance Infinity ended 2019 with approximately $42.4 million in cash and investments (unaudited) and plans to report its fourth quarter and full-year 2019 financial results in March. The company is

Benzinga · -

2020 Financial Guidance

Infinity ended 2019 with approximately $42.4 million in cash and investments (unaudited) and plans to report its fourth quarter and full-year 2019 financial results in March. The company is providing the following financial guidance today:

  • Cash as of January 8, 2020: ~$62 million (including $20 million non-dilutive financing)
  • Net Loss: $40 million to $50 million
  • Year-end Cash: $15 million to $25 million
  • Cash Runway: Into 2H 2021

2020 IPI-549 Development Guidance

  • MARIO-275 enrollment completion. MARIO-275 is the company’s ongoing global, randomized, controlled Phase 2 study in collaboration with Bristol-Myers Squibb, to evaluate IPI-549 in combination with Opdivo® in platinum-refractory, I/O naïve patients with advanced urothelial cancer. Data is expected in mid-2021.
  • MARIO-3 enrollment completion and initial data. MARIO-3 is the company’s ongoing Phase 2 study in collaboration with Roche/Genentech to evaluate IPI-549 in novel triple combination front-line therapies with Tecentriq® and Abraxane® in triple negative breast cancer (TNBC) and with Tecentriq and Avastin® in renal cell cancer (RCC).
  • Arcus Biosciences Collaboration Study expansion cohort enrolling. This ongoing Phase 1/1b trial, being conducted by Arcus, is evaluating a checkpoint inhibitor-free, novel triple-combination regimen of IPI-549 + AB928 (dual adenosine receptor antagonist) + Doxil® in advanced TNBC patients. The trial has been initiated with a goal of enrollment of up to 40 patients in an expansion cohort.
  • Additional MARIO-1 data. MARIO-1 is the company’s ongoing Phase 1/1b study of IPI-549 as a monotherapy and in combination with Opdivo® in patients with advanced solid tumors.