CAMBRIDGE, Mass., Jan. 11, 2010 (GLOBE NEWSWIRE) -- Infinity Pharmaceuticals, Inc. (Nasdaq:INFI), an innovative cancer drug discovery and development company, today provided guidance on its anticipated research and development and business goals for 2010. Infinity opens the year with a diverse pipeline of three drug candidates in clinical development, and a fourth poised to enter the clinic early in the year. It also begins 2010 with approximately $130 million in cash and investments (unaudited), $150 million in committed research and development funding through 2011 from its alliance partners Purdue Pharmaceutical Products L.P. and Mundipharma International Corporation Ltd., and access to a $50 million line of credit from Purdue Pharma L.P. This financial position provides Infinity with a cash runway into 2013 based on its current operating plan, and the financial strength to achieve key development milestones and evaluate external opportunities to strategically enhance its pipeline.
