Why Infinity Pharmaceuticals (INFI) Stock Is Getting Obliterated
Portfolio Pulse from Henry Khederian
Infinity Pharmaceuticals (NASDAQ:INFI) has terminated its merger agreement with MEI Pharma after MEI failed to obtain stockholder approval. Infinity's board will explore alternatives for its eganelisib drug. MEI may have to reimburse Infinity for certain expenses and fees of $1 million. An additional $4 million termination fee from MEI is possible under certain circumstances.
July 24, 2023 | 1:38 pm
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Infinity Pharmaceuticals' stock price has dropped significantly after the termination of its merger with MEI Pharma. The company is now exploring alternatives for its eganelisib drug.
The termination of the merger agreement with MEI Pharma, which was not approved by MEI's stockholders, has led to a significant drop in Infinity Pharmaceuticals' stock price. The company is now looking for strategic alternatives for its eganelisib drug, which could potentially affect its future revenues and profitability.
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