UPDATE: Stifel Nicolaus Initiates Infinity Pharmaceuticals at Hold; Royalty Burden High

Stifel Nicolaus initiated coverage on Infinity Pharmaceuticals (NASDAQ: INFI) with a Hold rating.

Stifel Nicolaus noted, "Infinity's phosphoinositide-3-kinase (PI3K) inhibitor, IPI-145, has the potential to be a best-in-class drug for one of the most exciting targets in oncology and inflammation treatment. Preclinical data for IPI-145 as well as data from other drugs in development validate the PI3K target in our opinion as one that will provide strong efficacy in tumor resistance and inflammation reduction, while retaining a favorable safety profile. IPI-145 is the only dual PI3K delta and gamma inhibitor currently in clinical trials."

Infinity Pharmaceuticals closed at $17.74 on Thursday.

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