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Why Infinity Pharmaceutical's Stock Is Trading Higher Today

Why Infinity Pharmaceutical's Stock Is Trading Higher Today

Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) shares are trading higher on Wednesday, after the company announced the FDA has granted fast track designation for IPI-549 in combination with nivolumab for the treatment of advanced urothelial cancer.

The company says it's currently enrolling patients in MARIO-275, which is the company’s 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.

Infinity Pharmaceutical’s mission is to discover, develop, and deliver to patients medicines for the treatment of cancer and related conditions.

Infinity shares traded up 25.22% to $1.09 in Wednesday’s pre-market session. The stock has a 52-week high of $1.93 and a 52-week low of 60 cents.

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