Infinity Plummets on Disappointing Phase 2 Study
Shares of Infinity Pharma (NASDAQ: INFI) are currently seeing pressure during Friday's trading session after the company announced poor results from a phase 2 study.
While the final analysis is not complete, a preliminary analysis of data from the study that was completed yesterday showed a difference in survival favoring the placebo plus gemcitabine arm due to a higher rate of progressive disease in the saridegib plus gemcitabine arm.
The median survival for patients receiving saridegib plus gemcitabine was less than the historical median survival for single-agent gemcitabine of approximately six months1,2, as compared to a median survival for the placebo plus gemcitabine arm of greater than six months. The adverse events observed in both arms were consistent with the known safety profile of each agent, with no unexpected toxicities. Based on this interim analysis, Infinity is voluntarily stopping the trial. The company expects to present the final data after the analyses are complete.
Currently, shares of Infinity Pharma are trading down 40% at $5.94.
© 2015 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.