INFI - Infinity Pharmaceuticals stock soars 25% after FY21 revenue beat

Shares of Infinity Pharmaceuticals (INFI +26.6%) rose after reporting better-than-expected FY revenue from royalties. FY21 royalty revenue grew +8.09% Y/Y to ~$1.86M. FY net loss widened to -$45.3M, compared to -$40.5M a year ago. Research and development expenses increased to $31.65M,  compared to $26.76M in 2020. Infinity ended 2021 with cash and cash equivalents of $80.7M vs $34.1M at at Dec. 31, 2020. Outlook: Infinity expects net loss for 2022 in the range of -$45M to -$55M. The company expects to end 2022 with cash and cash equivalents ranging from $25M to $35M. By end-2022, company plans to initiate MARIO-4, a phase 3 study of eganelisib in a triplet combination regimen in front-line metastatic triple negative breast cancer. In Q3, the company expects to begin MARIO-P, a study designed to expand eganelisib development in additional solid tumor indications, on a rolling basis.

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Infinity Pharmaceuticals stock soars 25% after FY21 revenue beat