TICKERS: INFI

Biotech Announces 'Late-Breaking' Addition to Immunotherapy Conference
Research Report

Source:

Michael King Jr., an analyst with JMP Securities, reported this biopharmaceutical firm was recently added to the roster of presenters scheduled for an upcoming annual meeting.

An Oct. 12 research report noted that Infinity Pharmaceuticals Inc. (INFI:NASDAQ) announced "an IPI-549 late-breaking oral presentation" at the Society for Immunotherapy of Cancer's (SITC's) yearly conference next month."

The presentation will "describe new data for IPI-549, the orally administered immuno-oncology development candidate that selectively inhibits phosphoinositide-3-kinase (PI3K) gamma," explained analyst Michael King Jr. with JMP Securities. The conference will be held Nov. 10-12 in National Harbor, Md.

That presentation is titled "Monotherapy dose escalation clinical and translational data from first-in-human study in advanced solid tumors of IPI-549, an oral, selective, PI3K-gamma inhibitor targeting tumor macrophages."

About the inclusion of Infinity as a presenter, King surmised, "The fact that it was chosen as one of 26 late breakers is suggestive of interesting activity for IPI-549."

Also, in a poster session at the SITC meeting, Infinity will "describe the ongoing Phase 1/1b clinical study exploring the safety and activity of IPI-549 both as a monotherapy and in combination with Opdivo, a PD-1 immune checkpoint inhibitor, in patients with advanced solid tumors," added King.

In the JMP report, the analyst also detailed catalysts expected this year for Infinity. With respect to the evaluation of IPI-549 as a monotherapy, it should start enrollment of patients with advanced solid tumors as an expansion cohort.

For the study of IPI-549 plus Opdivo, the company should complete the dose escalation phase and begin enrollment of an expansion cohort, comprised of patients with non-small cell lung cancer, melanoma and squamous cell carcinoma of the head and neck.

As for the biotech firm as an investment, King commented, "Infinity is a story driven by the clinical and commercial potential of its PI3K-gamma inhibitor rather than of earnings, in our view." However, given the "still early development stage of IPI-549, we remain on the sidelines. At present, we believe the market values the platform fairly, including assets currently in development."

JMP Securities has a Market Perform rating on Infinity.

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