Infinity Says Cash Stretches to 2014

1/7/11

Infinity Pharmaceuticals (NASDAQ: 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.

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