Infinity Pharmaceuticals Aims to Raise $76.85M
Following a decision to terminate development of saridegib under its alliance with Mundipharma International Corp., and subsequent 20 percent headcount reduction, Infinity Pharmaceuticals Inc. said Thursday it would raise about $76.85 million through a public offering of 5.3 million shares of common stock at $14.50 per share. Net proceeds from the offering will be funneled into clinical development of cancer candidates IPI-145 and retaspimycin.
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