INFI - Infinity Pharma falls 24% on Q3 revenue miss

• Infinity Pharma ( NASDAQ: INFI ) is trading ~24% lower after the company missed revenue estimates.
• Revenue rose 65.1% Y/Y to $0.71M, way below estimates of $8.12M.
• The company posted Q3 GAAP EPS of -$0.12.
• Infinity said it continues to expect net loss for 2022 to range from $40M to $50M.
• Infinity continues to expect to end 2022 with a cash of $35M to $45M, which provides a cash runway into 2024.
• Research and development expenses rose to $7.7M, compared to $7.1M, a year earlier.
• The Company reported today an update from its MARIO-3 study of eganelisib in combination with atezolizumab and nab-paclitaxel in front-line metastatic triple negative breast cancer.
• The result showed 52% increase in one-year progression free survival rate.

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