Infinity Pharma Reports Phase 1 Results On Oral Hedgehog Inhibitor IPI-926

Over the weekend, Infinity Pharmaceuticals INFI presented initial Phase I data on oral hedgehog inhibitor IPI-926 at the European Society for Medical Oncology meeting in Milan. With i.v. Hsp-90 inhibitor IPI-504 all but dead, Infinity is focusing clinical resources on IPI-926, oral Hsp-90 inhibitor IPI-493 and preclinical PI3K inhibitors from Intellikine. Risks for INFI are typical with other drug discovery companies. IPI-504 may fail in the clinic and Infinity may not file new INDs. Piper remains Neutral until it sees clinical progress and validation. INFI closed Friday at $5.68