Infinity plunges on duvelisib data

Infinity Pharmaceuticals Inc. (NASDAQ:INFI) crumbled $3.05 (69%) to $1.36 on Tuesday after reporting a smaller than expected clinical benefit for duvelisib ( IPI-145) in a Phase II study to treat indolent non-Hodgkin's lymphoma (NHL). The biotech said duvelisib monotherapy met the primary endpoint with a 46% objective response rate (ORR) in the single-arm, open-label Phase II DYNAMO study, but all of the responses were partial responses.

Based on the data, Infinity and partner AbbVie Inc. (NYSE:ABBV) are pausing a Phase Ib/II study of duvelisib plus AbbVie's Venclexta venetoclax to treat relapsed or refractory chronic lymphocytic leukemia, small lymphocytic lymphoma, or indolent or aggressive NHL, and are discussing next steps for their 2014 deal to co-develop duvelisib, an oral inhibitor of phosphoinositide-3-kinase ( PI3K) delta and gamma (see BioCentury, Sept. 8, 2014). ...