Infinity Pharmaceuticals plans $50 million at-the-market equity sales

Deal set with Cantor Fitzgerald; proceeds fund clinical development

By Devika Patel

Knoxville, Tenn., May 4 – Infinity Pharmaceuticals, Inc. negotiated a $50 million at-the-market equity offering with agent Cantor Fitzgerald & Co. on May 4, according to a prospectus supplement and 8-K filed Wednesday with the Securities and Exchange Commission.

Cantor will be paid a 3% commission.

Proceeds will be used for clinical development of duvelisib and IPI-549, collaboration with AbbVie Inc. to develop, commercialize, and manufacture products containing duvelisib, working capital and other general corporate purposes.

Infinity is a Cambridge, Mass., pharmaceutical company working on cancer treatments.

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