Infinity Pharma Q2 Loss Widens - Quick Facts

(RTTNews) - Infinity Pharmaceuticals, Inc. (INFI) Thursday reported a wider loss for the second quarter, amid lack of revenues.

Net loss for the quarter widened to $32.59 million or $0.68 per share from $14.66 million or $0.54 per share in the previous year.

On average, 10 analysts polled by Thomson Reuters expected a loss of $0.62 per share for the quarter. Analysts' estimates typically exclude special items.

Collaborative research and development revenue from Purdue entities was nil in the quarter, compared to $21.91 million last year.

For 2013, Infinity expects net loss to range from $135 million to $145 million, compared to prior expectations of $115 million to $125 million.

Further, Infinity said that in the fourth quarter it expects to initiate a Phase 3 trial of IPI-145, its potent, oral inhibitor of phosphoinositide-3-kinase, in patients with chronic lymphocytic leukemia and small lymphocytic lymphoma.

This randomized study is designed to evaluate the safety and efficacy of IPI-145 dosed at 25 mg twice daily compared to ofatumumab in approximately 300 relapsed or refractory patients.