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Stock Market & Financial Investment News

News Breaks
August 4, 2014
16:15 EDTINFIInfinity Pharmaceuticals amends PI3K-Delta, Gamma agreement with Millenium
Infinity Pharmaceuticals announced that the company has purchased an option to buy out all future potential royalty payments due to Millennium: The Takeda Oncology Company for sales in oncology of IPI-145, Infinity’s oral inhibitor of phosphoinositide-3-kinase, or PI3K-delta and PI3K-gamma. In exchange for a one-time, upfront payment of $5.0M, Infinity receives an option to terminate its obligation to pay Millennium future royalties related to the sale of IPI-145 in oncology. Infinity may exercise this option by providing written notice and payment to Millennium of a one-time exercise fee of $52.5M on or before March 31, 2015. Exercise of the option does not affect any other obligation under the Development and License Agreement, including Infinity’s obligation to pay royalties on sales of IPI-145 outside of oncology. If Infinity does not exercise the option, its royalty obligations with respect to IPI-145 in oncology will remain in effect. Assuming exercise of the option, Infinity’s obligation to pay Millennium tiered royalties, ranging from 7%-11%, on worldwide net sales of Infinity’s first two distinct PI3K product candidates will exclude worldwide net sales of IPI-145 in oncology. Infinity will remain obligated to pay milestones to Millennium for Infinity’s first two distinct PI3K product candidates that gain approval, including IPI-145. The remaining milestones comprise up to a total of $220M in success-based regulatory milestones, up to a total of $230M in commercial milestones which are due once certain sales thresholds have been met, and up to a total of $5M in development milestones.
News For INFI From The Last 14 Days
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September 15, 2014
09:26 EDTINFIInfinity Pharmaceuticals management to meet with JMP Securities
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September 4, 2014
10:29 EDTINFIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AeroVironment (AVAV) upgraded to Buy from Hold at Benchmark Co... D.R. Horton (DHI) upgraded to Buy from Neutral at UBS... IAC (IACI) upgraded to Overweight from Equal Weight at Barclays... Imperial Tobacco (ITYBY) upgraded to Outperform from Underperform at Exane BNP Paribas... Infinity Pharmaceuticals (INFI) upgraded at JMP Securities.
08:52 EDTINFIInfinity Pharmaceuticals upgraded at JMP Securities
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07:38 EDTINFIInfinity Pharmaceuticals price target raised to $21-$25 from $17-$20 at Wells Fargo
Wells Fargo increased its price target on Infinity (INFY) after the company announced a global development and commercialization oncology agreement with AbbVie (ABBV) for duvelisib. The firm thinks the financial terms of the deal are favorably for Infinity, and significantly lower the risk presented by Infinity's stock. It raised its estimate of the drug's chances of success to 75% from 65% and keeps an Outperform rating on Infinity.
07:17 EDTINFIInfinity deal terms suggest intention to stay independent, says Jefferies
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06:13 EDTINFIInfinity upgraded to Outperform from Market Perform at JMP Securities
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