Press release from Business Wire
Infinity Added to NASDAQ Biotechnology Index
Tuesday, May 15, 2012
CAMBRIDGE, Mass. (Business Wire) -- Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) today announced that the company will be added to the NASDAQ Biotechnology Index® (NBI). The semi-annual re-ranking of the index will become effective prior to market open on Monday, May 21, 2012.
“Our inclusion in the NASDAQ Biotechnology Index underscores the strength of our pipeline and our progress toward creating a sustainable, fully integrated biotechnology company,” stated Adelene Q. Perkins, president and chief executive officer of Infinity. “With six clinical trials ongoing across our three development programs, and the financial strength to execute them, we have the potential to meaningfully impact patients' lives while creating long-term value for shareholders.”
The NBI was launched in 1993 and includes securities of biotechnology and pharmaceutical companies listed on the NASDAQ that meet minimum requirements, including market value and average daily share volume, among other criteria. The index is ranked on a semi-annual basis in May and November and serves as the basis for the iShares NASDAQ Biotechnology IndexSM Fund (Nasdaq:IBB). For more information about the NASDAQ Biotechnology Index, including detailed eligibility criteria, visit https://indexes.nasdaqomx.com/.
About Infinity Pharmaceuticals, Inc.
Infinity is an innovative drug discovery and development company seeking to discover, develop and deliver to patients best-in-class medicines for diseases with significant unmet need. Infinity combines proven scientific expertise with a passion for developing novel small molecule drugs that target emerging disease pathways. Infinity's programs focused on the inhibition of the Hedgehog pathway, heat shock protein 90 and phosphoinositide-3-kinase are evidence of its innovative approach to drug discovery and development. For more information on Infinity, please refer to the company's website at www.infi.com.
This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. These statements involve risks and uncertainties that could cause actual results to be materially different from historical results or from any future results expressed or implied by such forward-looking statements. Such statements are subject to numerous factors, risks and uncertainties that may cause actual events or results to differ materially from the company's current expectations. For example, there can be no guarantee that Infinity's strategic alliance with Mundipharma International Corporation Limited will continue for its expected term or that it will fund Infinity's programs as agreed, that any product candidate Infinity is developing will successfully complete necessary preclinical and clinical development phases, or that development of any of Infinity's product candidates will continue. Further, there can be no guarantee that any positive developments in Infinity's product portfolio will result in stock price appreciation. Management's expectations could also be affected by risks and uncertainties relating to: Infinity's results of clinical trials and preclinical studies, including subsequent analysis of existing data and new data received from ongoing and future studies; the content and timing of decisions made by the U.S. Food and Drug Administration and other regulatory authorities, investigational review boards at clinical trial sites and publication review bodies; Infinity's ability to enroll patients in its clinical trials; unplanned cash requirements and expenditures, including in connection with business development activities; development of agents by Infinity's competitors for diseases in which Infinity is currently developing its product candidates; and Infinity's ability to obtain, maintain and enforce patent and other intellectual property protection for any product candidates it is developing. These and other risks which may impact management's expectations are described in greater detail under the caption “Risk Factors” included in Infinity's quarterly report on Form 10-Q for the quarter ended March 31, 2012, filed with the Securities and Exchange Commission on May 8, 2012. Any forward-looking statements contained in this press release speak only as of the date hereof, and Infinity expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.
Infinity Pharmaceuticals, Inc.
Jaren Irene Madden, 617-453-1336