Infinity Pharmaceuticals Inc. (NASDAQ:INFI) showcased the positive outcome of a treatment using Nivolumab and Eganelisib combination in patients suffering from advanced urothelial cancer (AUC). The combinational treatment demonstrated improvements in DCR, ORR, and PFA compared to the 2L standard of care with nivolumab monotherapy.
Infinity demonstrated the data obtained from MAcrophage Reprogramming in Immune Oncology (MARIO-275) Phase 2, placebo-controlled, and randomized clinical trial evaluating the efficacy and safety of Opdivo and Eganelisib combinational therapy in I/o naïve patients at ASCO GU. The primary endpoint of MARIO-275 is to provide better treatments for patients suffering from AUC.
Improved progression-free survival
Medical Oncologist associated with CMPP (Centrum Medyczne Pratia in Poznan), Poland, Piotr Tomczak said the company is pleased with the encouraging data of good tolerance of combinational therapy of eganelisib and nivolumab. It showed significant improvement compared to the therapy using nivolumab alone. It showed improved progression-free survival in patients with AUC.
Piotr is pleased with the benefits offered by combinational therapy in PD‑L1 negative patients. The disease control rate is four times better in the combinational treatment. It is a significant achievement in meeting the PD-L1 low patients’ needs. PD-L1 low patients represent a major portion of the people suffering from metastatic urothelial cancer.
Chief consulting physician at Infinity, Brian Schwartz said the company is excited with the benefits offered by the addition of eganelisib to 2L standard care nivolumab to the PD-L1 low patients. It offered an improvement of more than 85% in overall response rate compared to the control arm. Therefore, it offers improved progression-free survival along with other benefits to PD-L1 low patients, who have a history of poor overall response rates.
Will mobilize $79.8 million
Infinity will mobilize funds of $79.8 million through the public issue of 21 million common shares each at $3.80. The offering will be closed on February 17, 2021. The underwriters have a 30 day period to acquire additional 3.15 million shares each at $3.80.
Infinity appointed Piper Sandler & Co. as the book runner for this public offering whereas JonesTrading Institutional Services LLC and Truist Securities will act as the co-running managers. The company will use the net proceeds of this offering for continuing eganelisib clinical development. It will also use the proceeds for working capital and corporate purposes.