Infinity Pharmaceuticals (NASDAQ: [[ticker:INFI]]) said today in its financial forecast that the company has enough cash on hand, and committed research funding, to run its R&D operation into 2014. The Cambridge, MA-based developer of cancer drugs said it enters this year with $345 million in committed capital, which includes slightly more than $100 million of cash and investments, another $195 million in committed R&D funding from its partner Mundipharma, and a $50 million line of credit from Purdue Pharma. Infinity also described a number of clinical development goals in a statement.
Author: Luke Timmerman
Luke is an award-winning journalist specializing in life sciences. He has served as national biotechnology editor for Xconomy and national biotechnology reporter for Bloomberg News. Luke got started covering life sciences at The Seattle Times, where he was the lead reporter on an investigation of doctors who leaked confidential information about clinical trials to investors. The story won the Scripps Howard National Journalism Award and several other national prizes. Luke holds a bachelor’s degree in journalism from the University of Wisconsin-Madison, and during the 2005-2006 academic year, he was a Knight Science Journalism Fellow at MIT.
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