Infinity Pharma's lead product candidate IPI-549 shows encouraging results in preclinical cancer testing; shares ahead 21%

• Infinity Pharmaceuticals (NASDAQ:INFI +21.3%) is up on triple normal volume in response to its announcement of positive preclinical data for lead oncology candidate IPI-549. The results were presented at the Keystone Symposia Conference "PI3K Pathways in Immunology, Growth Disorders and Cancer" in Sante Fe, New Mexico.
• Results from nine patients with advanced solid tumors showed that IPI-549 was able to overcome checkpoint inhibition by remodeling the immune-suppressive tumor microenvironment, principally by its effect on myeloid cells.
• IPI-549 in currently being evaluated in a Phase 1 study as monotherapy and in combination with Bristol-Myers Squibb's (BMY -11.1%) Opdivo (nivolumab) in patients with advanced solid tumors, including non-small cell lung cancer, melanoma and squamous cell carcinoma of the head and neck whose tumors are treatment resistant.
• IPI-549 is an orally available inhibitor of an enzyme called phosphoinositide-3-kinase (PI3K)-gamma that plays a key role in inflammation, immunity and cancer.