Why Infinity Pharmaceuticals Is Skyrocketing Today
Shares of biotech company Infinity Pharmaceuticals (NASDAQ: INFI) are soaring through the roof on Thursday following the company's release of data from a phase 2 clinical trial for one of its pipeline candidates. As of 12:03 p.m. EST, the drugmaker's stock was up by 21%, after jumping by as much as 51.4% earlier today.
The trial in question investigated the safety and efficacy of the combination of Infinity Pharmaceuticals' eganelisib with nivolumab (a cancer treatment marketed as Opdivo by Bristol Myers Squibb) in patients with advanced urothelial cancer. During the study, the combination therapy demonstrated an increased immune activation and a decreased immune suppression compared to treatment with nivolumab alone.
The results were even more pronounced for PD-L1 negative patients (PD-L1 is a type of protein), which is an important factor. According to the lead study investigator Piotr Tomczak, PD-L1 low patients "represent the majority of metastatic urothelial cancer population." The combination of eganelisib and nivolumab was also well tolerated at the 30 mg once per day dose; during the study, the median average daily dose was 31.5 mg.
Source Fool.com
