Rodman & Renshaw Initiates Infinity Pharmaceuticals at Market Perform

Rodman & Renshaw has published a research report on Infinity Pharmaceuticals INFI and has initiated coverage on the company with a Market Perform rating. In the report, Rodman & Renshaw writes, " Infinity's three lead programs, IPI-926, IPI-504 (retaspimycin), and IPI-145, all block three validated and highly-valued targets: Hedgehog (smoothened), heat shock protein 90 (Hsp90) and PI3 kinase (PI3K). Two of the three, IPI-926 and retaspimycin, have shown preliminary signs of activity, while the value of IPI-145 is inferred through other programs in the PI3K space. The profile of the Infinity portfolio is atypical in that the lead program has a higher risk profile than the second (retaspimycin) but the larger market opportunity. At this stage it is difficult to handicap the likelihood of success for IPI-145." Infinity Pharmaceuticals closed yesterday at $8.31.