On Wednesday Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) announced topline data from its Phase 2 study of retaspimycin hydrochloride (HCl), a potent and selective heat shock protein 90 (Hsp90) inhibitor, in patients with non-small cell lung cancer (NSCLC) who had a history of smoking. In this double-blind, randomized, placebo-controlled study, retaspimycin HCl did not meet its pre-specified efficacy endpoints. In the view of Wells Fargo analyst Matthew J. Andrews, the long term thesis is intact.
"Today's announcement is a slight negative but does not impact our longterm thesis on Infinity, which is based on IPI145's long-term potential in treating multiple blood cancers," said Andrews. "While retaspimycin produced some promising signals of clinical activity in an earlier study, today's announcement does not come as big surprise as the initial study results were from a small number of patients. In addition, a number of Hsp90i have encountered challenges in clinical development over the last several years."
"The key driver, in our view, remains IPI145 which should have two pivotal, registration studies underway by the end of 2013: a Ph. II in dualrefractory iNHL (enrollment underway) and a Ph. III in R/R CLL vs. ofatumumab (to commence in Q4)," he added.
Note:
As expected, INFI reported negative results with its phase 2 HCI inhibitor. The focus will move now to December ASH presentation of updated data of IPI 145. I'm expecting robust data and significant appreciation in the stock price. in 1H-2014, I'm expecting a secondary or partnership. stock price : $17.4.
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