Infinity Regains Pipeline Rights, Gives Up Equity In Rejiggered Purdue Alliance
This article was originally published in The Pink Sheet Daily
Executive Summary
Infinity avoids the erosion of its rights to a promising PI3K drug by restructuring its alliance with Purdue and Mundipharma, essentially returning all control back to the cancer drug developer.
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Infinity presented positive efficacy data on its oral PI3 kinase inhibitor IPI-145 in CLL and lymphoma at ASCO, but other drug makers also released strong data on potential competitors that are further ahead in clinical development, sparking a stock sell off.