Infinity falls on saridegib data
Shares of Infinity Pharmaceuticals Inc. (NASDAQ:INFI) fell as much as 21% on Monday before closing off $1.02, or 7%, to $12.86 after discontinuing a pair of Phase II trials of saridegib in chondrosarcoma and myelofibrosis following "disappointing" interim data. The company does not plan to sponsor further trials of the Hedgehog pathway inhibitor derived from cyclopamine.
Infinity stopped a trial in patients with metastatic or locally advanced, inoperable chondrosarcoma after an analysis concluded that saridegib would not meet the primary endpoint of progression-free survival (PFS) vs. placebo. Infinity also discontinued a trial in myelofibrosis after data from 12 patients showed that the level of clinical activity of saridegib did not satisfy pre-specified criteria for expansion of the trial. ...