INFI - Infinity posts FY results 2021 forecast

Infinity Pharmaceuticals (INFI) posted a 43% slide in full-year revenue and provided financial forecast for 2021.The company's FY revenue fell 43% to $1.72M, but beat analysts' average estimate by $0.06M.At December 31, 2020, Infinity had total cash, cash equivalents and available-for-sale securities of $34.1M, compared to $42.4M at December 31, 2019.2021 Guidance: net loss to range from $40M to $50M; expects to end 2021 with a year-end-cash, cash equivalents and available for sale securities balance ranging from $70M to $80M.Research and development expense for 2020 was $26.8M, compared to $27.1M in 2019. General and administrative expense was $12.4M for 2020, compared to $14.3M.Net loss for 2020 was $40.5M, or $0.68/share, compared to a net loss of $47.1M, or $0.83/share last year.Shares were down nearly 1% post market.Previously (March 16): Infinity Pharmaceuticals EPS misses by $0.01, beats on revenue.

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Infinity posts FY results, 2021 forecast