Infinity Pharmaceuticals Inc. Tries to Regain Footing After a Rough Session

Published: Jun 06, 2013

Staying up-to-date has never been simpler. Sign up for the free GenePool newsletter today!

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.

Help employers find you! Check out all the jobs and post your resume.

Back to news