Shares of Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) dropped -2.68% by the end of trading session at $2.91. For the current quarter, the 4 brokerage firms issuing adjusted earnings per share outlook have a consensus forecast of -$0.57/share, which would compare with -$0.8 in the year-ago quarter. The net percentage change is -53.44% over the last 12 months. The trading range in the same period had a highest hit of $6.63 while lowest level was $0.84. At the moment the price is 34.68% above its 50-day moving average and 56.85% above its 200-day moving average.
Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) on February 28, 2017 reported that it will host a conference call on Tuesday, March 14, 2017, at 4:30 p.m. ET to review its full-year 2016 financial results and provide an update on the company. Infinity is an innovative biopharmaceutical company dedicated to advancing novel medicines for people with cancer. Infinity is advancing IPI-549, an oral immuno-oncology development candidate that selectively inhibits PI3K-gamma. A Phase 1 study in patients with advanced solid tumors is ongoing.
Galena Biopharma, Inc. (NASDAQ:GALE) last exchanged hands at a price $0.57/share, registering a decline of -1.9%. Among 1 Wall Street analysts tracked by Thomson/First Call, the average PT for GALE is $8 but some of them are predicting the price to move at the $8 level. If the most optimistic analysts are correct, the expected total return from the current price would be 1303.51. The number of shares traded in most recent trading day was 0.8M shares which averages 2.37M shares a day. Its previous fifty two week high was $4.75 and moved down -96.66% over the same time frame, currently having a market cap around $18.35 million. Shares have risen -77.93% over the trailing six months. At the moment, the stock trades -56.35% below its 50-day moving average and -93.78% below its 200-day moving average.
Galena Biopharma, Inc. (NASDAQ:GALE) on March 9, 2017 announced that it has engaged Canaccord Genuity, Inc. as its financial advisor to assist in the previously announced strategic alternative review process.
Potential strategic alternatives may include a sale of the company, a business combination, a merger or reverse merger with another party, continuing to advance the clinical programs as a stand-alone entity, and a license or other disposition of corporate assets of the Company. The Company stated that there can be no assurance that this strategic review process will result in a transaction. Galena has not set a timetable for completion of the review process, and it does not intend to comment further regarding the strategic review process unless a specific transaction is approved by its Board of Directors and signed, the strategic review process is concluded, or it is otherwise determined that further disclosure is appropriate or required by law.
Galena’s clinical assets include:
- A hematology asset, GALE-401, which is a controlled-release formulation of the approved drug anagrelide
– Phase 3-ready program with an FDA confirmed 505(b)2 regulatory pathway in essential thrombocythemia
- An immuno-oncology franchise targeting prevention of recurrence in breast and ovarian cancer with limited competition in each indication
– NeuVax™ (nelipepimut-S) – Three Phase 2, co-funded investigator sponsored trials ongoing in adjuvant breast cancer
– Phase 2b, 300 patient trial expected to complete enrollment in Q2 2017, and interim efficacy readout in Q4 2017
– GALE-301 & GALE-302 – Early stage trials completed targeting ovarian cancer
On March 15, 2017, Galena will issue its financial results for the fourth quarter and year-end 2016.