6/6/2013 7:44:47 AM
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After falling off a precipice Monday, shares of Infinity Pharmaceuticals tried to rebound on Tuesday and gained more than 20% to around the $20 level.
Trouble is, Infinity INFI +0.02% lost more than a third of its value on Monday, dropping 39% to $16.41 as safety issues over a key line of drugs in testing seized investors. Shares of Infinity have been plunging since April 2, when the stock closed at a 52-week high of $50.09. And investors seemed to be discouraged by promising data for the drug now known as IPI-145, used to treat various forms of leukemia and lymphoma. Independent investigators offered encouraging news on the treatment.
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