Biotech Values

[DewDiligence]

(ABBV)—INFI -65% on phase-3 Duvelisib results in NHL:

http://finance.yahoo.com/news/infinity-reports-topline-results-dynamo-094500781.html

"While the DYNAMO study met its primary endpoint, we hoped that treatment with duvelisib as a monotherapy would have provided a larger clinical benefit for patients with advanced indolent non-Hodgkin lymphoma, a difficult-to-treat disease," stated Adelene Perkins, president and chief executive officer at Infinity. "We plan to seek feedback from the U.S. Food and Drug Administration to determine our next steps with respect to duvelisib in indolent non-Hodgkin lymphoma."

…Pending the resolution of these business discussions, AbbVie and Infinity have also agreed to pause the AbbVie-sponsored Phase 1b/2 study evaluating duvelisib in combination with venetoclax.

Infinity is also undertaking a strategic restructuring that will close down its discovery research organization, impacting 46 members of the Infinity team, or 21 percent of the workforce.

There was a CC this morning; if anyone here listened, please post notes.