Infinity Pharmaceuticals touches three-month low after Q3 miss

Infinity Pharmaceuticals

14/11/2022 16:48

** Biotech firm Infinity Pharmaceuticals Inc's shares
 INFI.O  slump 21% to three-month low of 94 cents 
    ** Co reports Q3 adjusted loss of 12 cents​​/shr, bigger
than analysts' estimates for loss of 6 cents/shr - Refinitiv
IBES 
    ** Also misses sales estimates
    ** INFI notes an increase in research and development
expenses in Q3 to support future development of experimental
cancer drug Eganelisib
    ** More than 1 mln shares traded, 3.6 times their 25-day
moving avg
    ** Three of four brokerages rate the stock "buy", one
"hold"; their median PT is $3.5
    ** Stock had fallen 59% YTD vs a 10.1% decline in the Nasdaq
Biotechnology Index  .NBI 
 (Reporting by Johann M Cherian in Bengaluru)
 ((johann.mcherian@thomsonreuters.com;))