Wedbush Reiterates Neutral On Infinity Pharma As Duvelisib Phase 2a Misses Primary Endpoint


In a research report issued today, Wedbush analyst David Nierengarten reiterated a Neutral rating on Infinity Pharma (NASDAQ:INFI) with a $15 price target, on the heels of the news that Duvelisib (IPI-145) missed the primary endpoint of a statistically significant improvement.

Nierengarten wrote, “A trend towards improvement in late-phase response was observed in the high dose tested (25mg BID), but results did not achieve significance (p=0.052). This high dose did demonstrate a significant improvement in multiple secondary endpoints, including improvement in FEV1 AUC (p=0.013) and decrease in patient’s sensitivity to methacholine (p=0.036). Patients in the two-way crossover study were administered duvelisib followed by placebo or vice-versa, with duvelisib administered at 1mg BID for 14 days (n=14), 5mg BID for 14 days (n=18) or 25mg BID for five days (n=18). A significant decrease in serum levels of key airway inflammation markers was observed with the 5 and 25mg doses.”

The analyst continued, “Although we had expected the study to fail, the trend towards improvement could support the evaluation of higher duvelisib doses or the advancement of the IPI-443 follow-on. However, we would be cautious regarding safety at higher doses in larger clinical trials, despite the lack of SAEs in this small study.”

According to TipRanks.com, which measures analysts’ and bloggers’ success rate based on how their calls perform, analyst David Nierengarten has a total average return of 6.5% and a 38.6% success rate. Nierengarten has a -43% average return when recommending INFI, and is ranked #731 out of 3352 analysts.

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