Infinity Pharmaceuticals Says Second Proxy Advisory Firm Recommends Shareholders To Approve Proposed Merger
Portfolio Pulse from Vandana Singh
Infinity Pharmaceuticals has announced further design features of its Phase 2 MARIO-8 study in Squamous Cell Cancer of the Head and Neck (SCCHN). The study is designed to optimize the dose of the oral drug candidate, eganelisib, in combination with Merck & Co Inc's Keytruda. The company has received FDA feedback and, pending final FDA review and subject to the successful close of the company's proposed merger with MEI Pharma Inc, preliminary safety and efficacy data are expected in the second half of 2024. A second leading independent proxy advisory firm, Glass, Lewis & Co, has recommended that stockholders of Infinity and MEI vote for the merger. INFI shares are up 19.80% at $0.24 on the last check Monday.
July 10, 2023 | 4:45 pm
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POSITIVE IMPACT
Infinity Pharmaceuticals is progressing with its Phase 2 MARIO-8 study and its proposed merger with MEI Pharma Inc. The company's shares are up 19.80%.
The company's progress in its Phase 2 study and the recommendation for its proposed merger with MEI Pharma by a second proxy advisory firm are positive developments that could have led to the increase in its share price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
MEI Pharma Inc is proposed to merge with Infinity Pharmaceuticals. The merger has been recommended by a second proxy advisory firm.
The recommendation for the proposed merger with Infinity Pharmaceuticals by a second proxy advisory firm is a positive development for MEI Pharma.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Merck & Co Inc's Keytruda is being used in combination with Infinity Pharmaceuticals' oral drug candidate, eganelisib, in a Phase 2 study.
Merck's Keytruda is being used in a Phase 2 study, which could potentially lead to increased usage if the study results are positive. However, the impact on the company's stock price in the short term is uncertain.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 60