Annonce • Jul 25

MEI Pharma, Inc. (NasdaqCM:MEIP) cancelled the acquisition of Infinity Pharmaceuticals, Inc. (NasdaqGS:INFI) from The Vanguard Group, Inc. and others.

MEI Pharma, Inc. (NasdaqCM:MEIP) proposed to acquire Infinity Pharmaceuticals, Inc. (NasdaqGS:INFI) from The Vanguard Group, Inc. and others on February 9, 2023. MEI Pharma, Inc. (NasdaqCM:MEIP) entered into a definitive merger agreement to acquire Infinity Pharmaceuticals, Inc. (NasdaqGS:INFI) for $28.8 million from The Vanguard Group, Inc. and others on February 22, 2023. As per the terms of the agreement, each share of capital stock of Infinity issued and outstanding will be converted into the right to receive 1.0449 shares of common stock of MEI. Under the terms of the merger agreement, Infinity will become a wholly owned subsidiary of MEI Pharma. Pursuant to an exchange ratio set forth in the merger agreement, the pre-merger MEI Pharma shareholders are expected to own approximately 58.0% and pre-merger Infinity shareholders are expected to own approximately 42.0% of the outstanding equity of the combined company immediately following the merger. Subject to shareholder approval and the subsequent closing of the merger, the combined company is expected to be renamed and trade on the Nasdaq Stock Market. The combined company would be headquartered in San Diego, California and led by a team with extensive industry and oncology drug development expertise, including David Urso, Chief Executive Officer, Robert Ilaria, Jr., Chief Medical Officer, and Stéphane Peluso, Chief Scientific Officer. Daniel Gold and Adelene Perkins, the current Chief Executive Officers of MEI and Infinity, respectively, would serve on the Board of Directors of the combined company. The Board of Directors is expected to be composed of eight members, consisting of Norman C. Selby, currently Infinity’s Lead Independent Director, who will Chair the Board, David Urso, Daniel Gold, Adelene Perkins, two additional members designated by MEI Pharma, one additional member designated by Infinity and one member mutually agreed upon by MEI Pharma and Infinity. The Merger Agreement contains certain termination rights for both Infinity and MEI. Upon termination of the Merger Agreement by MEI under specified circumstances, MEI may be required to pay Infinity a termination fee of $4,000,000 and/or reimburse Infinity’s reasonable out of pocket fees and expenses incurred in connection with the Merger Agreement and the transaction contemplated thereby up to a maximum of $1,000,000. Upon termination of the Merger Agreement by Infinity under specified circumstances, Infinity may be required to pay MEI a termination fee of $2,900,000 and/or reimburse MEI’s reasonable out of pocket fees and expenses incurred in connection with the Merger Agreement and the transaction contemplated thereby up to a maximum of $1,000,000. Consummation of the Merger is subject to certain closing conditions, including, among other things, the (1) approval by the stockholders of MEI of the MEI Stock Issuance, (2) the adoption by the stockholders of Infinity of the Merger Agreement, (3) authorization for listing on The Nasdaq Capital Market of the shares of MEI Common Stock (including the shares to be issued in the Merger), subject to official notice of issuance, (4) effectiveness of the Registration Statement and (5) the absence of any law, judgment, order, injunction, ruling, writ award or decree by any governmental entity of competent jurisdiction restraining, enjoining or otherwise prohibiting consummation of the Merger as well as customary closing conditions and regulatory approvals. Infinity’s obligation to consummate the Merger is also subject to the condition that MEI’s final net cash is greater than or equal to $80,000,000 at closing if closing occurs on or before June 30, 2023, $78,000,000 at closing if closing occurs after June 30, 2023 but on or before July 31, 2023 and $76,000,000 at closing if closing occurs after July 31, 2023 but on or before August 31, 2023. MEI’s obligation to consummate the Merger is also subject to the condition that Infinity’s final net cash is greater than or equal to $4,000,000 at closing if closing occurs on or before June 30, 2023, $3,000,000 at closing if closing occurs after June 30, 2023 but on or before July 31, 2023, and $2,000,000 at closing if closing occurs after July 31, 2023 but on or before August 31, 2023. Combined company will continue to trade on Naddaq under a new name with Kimbrx Therapeutics. The merger agreement has been approved by the Boards of Directors of MEI and Infinity. Shareholders meeting of MEI is scheduled on July 14, 2023. As of July 5, 2023, independent proxy advisor Institutional Shareholder Services Inc. recommended that Infinity stockholders vote for the merger with MEI Pharma. As of July 7, 2023, proxy advisory firm Glass Lewis joined ISS in recommending that shareholders vote for the transaction. As on July 14, 2023, shareholders of Infinity Pharmaceuticals have approved the transaction. The transaction remains subject to approval by MEI stockholders. As per filling on July 17, 2023, MEI Pharma, Inc. mailed the letter to shareholders, encouraging them to vote FOR the pending transaction with Infinity Pharmaceuticals in connection with the MEI Pharma’s special meeting on July 23, 2023. The merger is expected to close in mid-2023. Torreya Capital, LLC is serving as financial advisor with a service fee of $2 million to MEI Pharma, and Steven A. Navarro and Robert W. Dickey of Morgan, Lewis & Bockius LLP serving as legal counsels to MEI Pharma. Aquilo Partners, L.P. is serving as financial advisor to Infinity, and Hal J. Leibowitz, Cynthia Mazareas, Judd Abramson and Michael Gilligan of WilmerHale serving as legal counsels to Infinity. Aquilo Partners, L.P. acted as financial advisor with a service fee of $1.45 million and fairness opinion provider with a service fee of $0.5 million to the board of directors of Infinity. Torreya Capital, LLC (Torreya Partners) acted as fairness opinion provider to the board of directors of MEI. Computershare Trust Company, National Association is a transfer agent for MEI. Alliance Advisors, LLC acted as information agent with a service fee of $35,000 to MEI. Morrow & Co., LLC acted as information agent with a service fee of $35,000 to Infinity. American Stock Transfer & Trust Company, LLC acted as transfer agent to Infinity. Tim Opler, Alan Selby, Stephanie Leouzon, Vivian Xu and Nathan Oliver of Stifel Financial Corp. (NYSE:SF) acted as financial advisor to MEI Pharma, Inc. MEI Pharma, Inc. (NasdaqCM:MEIP) cancelled the acquisition of Infinity Pharmaceuticals, Inc. (NasdaqGS:INFI) from The Vanguard Group, Inc. and others on July 23, 2023. MEI Pharma, Inc. today announced that, based on a count of the votes cast at the Company’s Special Meeting of Stockholders, MEI, by a narrow margin, did not obtain the necessary stockholder votes to approve the merger agreement with Infinity Pharmaceuticals, Inc. (“Infinity”). The certified results show that 59.70% of outstanding shares were voted, of which 47.86% voted in favor of the proposed transaction, and 51.44% against. Accordingly, MEI has sent Infinity a notice terminating the merger agreement.

Seeking Alpha • Sep 08

Infinity Pharmaceuticals: Waiting For A Deal

Summary Today, we revisit small oncology concern Infinity Pharmaceuticals for the first time in 2022. The company's primary drug Eganelisib has shown encouraging results as part of combination therapies, but the company is waiting on a collaboration deal to move development forward. Is a key strategic partnership worth the wait? An investment analysis follows in the paragraphs below. A man might share his wealth, but never his authority. - Amit Kalantri We concluded our last piece on Infinity Pharmaceuticals (INFI) in November 2021 saying it probably merited a small 'watch item' holding, preferably with a covered call position. Today, we follow up and see how this small biotech firm is progressing. An analysis follows below. Seeking Alpha Company Overview: Infinity Pharmaceuticals is headquartered in Cambridge, MA and its main focus continues to be developing novel medicines to treat cancer. This small oncology firm has a market cap of approximately $135 million and the stock trades near $1.50 a share. Pipeline: The company's core focus continues to be to develop its primary drug candidate Eganelisib as part of combination therapies to treat a variety of oncology indications. Eganelisib is a first-in-class, oral, once-daily, immuno-oncology (I/O) development candidate selectively inhibits phosphoinositide-3-kinase gamma (PI3K-gamma). According to the company's website, Eganelisib works by: May Company Presentation Reprogramming key immune suppressive cells (called M2 macrophages or myeloid derived suppressor cells (MDSCs)) within the tumor microenvironment from a pro-tumor function to an anti-tumor function, decreasing immune suppression and increasing immune activation, ultimately leading to the activation and proliferation of T cells that can attack cancer cells. Company Website Since our last update around Infinity Pharmaceuticals, the company has disclosed some trial results. In December of last year, Infinity posted some updated data from its ongoing MARIO-3 study. This Phase 2 trial was designed to evaluate Eganelisib in combination with Roche's (RHHBY) atezolizumab (Tecentriq) and chemotherapy nab-paclitaxel (Abraxane) in frontline metastatic triple-negative breast cancer (TNBC). According to the lead scientist on the results showed 'Tumor reductions in 88.6% of evaluable patients were associated with a disease control rate of 81.4% in patients with PD-L1 negative tumors who are among the most challenging to treat'. The company should review updated PFS data from this study by the end of this year. Company Presentation Then a month ago, the company posted data from its two-year analysis of its phase 2 MARIO-275 study. This trial is evaluating Eganelisib in combination with Bristol-Myers' (BMY) Opdivo for the treatment of second line urothelial cancer. A key conclusion of the analysis was that 45% of patients in the Eganelisib combination treatment arm were alive compared to 24% of patients in just the Opdivo arm. In addition, this improvement was also seen in the PD-L1 negative tumor subgroup, with 38% of those patients alive at two years on the Eganelisib plus Opdivo arm versus only 17% on the Opdivo arm. These encouraging results are the key factor behind the recent rally in the stock. The only other active study is MARIO-1, which is in a far earlier stage of development, so is not germane to this analysis. Analyst Commentary & Balance Sheet: Over the past six months, five analyst firms including Piper Sandler and Oppenheimer have reissued Buy ratings on the stock. Albeit, three of these contain downward price target revisions. Price targets proffered range from $3 to $9 a share. JonesTrading maintained its Hold rating on INFI on August 12th.

Rendement total pour l'actionnaire	-67,777.8%
Rendement futur des dividendes	n/a
Croissance des dividendes	n/a
Prochaine date de paiement du dividende	n/a
Date ex-dividende	n/a
Dividende par action	n/a
Ratio de distribution	n/a

Segment	Rendement du dividende
Entreprise (INFI.Q)	n/a
25% du marché (US)	1.4%
25% du marché (US)	4.3%
Moyenne du secteur (Biotechs)	2.4%
Analyste prévisionnel (INFI.Q) (jusqu'à 3 ans)	n/a

Données	Dernière mise à jour (heure UTC)
Analyse de l'entreprise	2024/03/11 19:07
Cours de l'action en fin de journée	2024/03/11 00:00
Les revenus	2023/06/30
Revenus annuels	2022/12/31

Paquet	Données	Cadre temporel	Exemple de source américaine ^*
Finances de l'entreprise	10 ans	Compte de résultat Tableau des flux de trésorerie Bilan	Formulaire 10-K de la SEC Formulaire 10-Q de la SEC
Estimations consensuelles des analystes	+3 ans	Prévisions financières Objectifs de prix des analystes	Rapports de recherche des analystes Blue Matrix
Prix du marché	30 ans	Cours des actions Dividendes, scissions et actions	Données de marché ICE Formulaire S-1 de la SEC
Propriété	10 ans	Actionnaires principaux Délits d'initiés	Formulaire 4 de la SEC Formulaire 13D de la SEC
Gestion	10 ans	L'équipe dirigeante Conseil d'administration	Formulaire 10-K de la SEC Formulaire SEC DEF 14A
Principaux développements	10 ans	Annonces de l'entreprise	Formulaire 8-K de la SEC

Analyste	Institution
Christopher Raymond	Baird
Andrew D'Silva	B. Riley Securities, Inc.
Michael King	Citizens JMP Securities, LLC

This company listing is no longer active

Infinity Pharmaceuticals Dividendes et rachats

Dividende contrôle des critères 0/6

Informations clés

Mises à jour récentes sur les dividendes et les rachats

Recent updates

Disclosure Statement Approved for Infinity Pharmaceuticals, Inc.

Nasdaq to Delist the Securities of Infinity Pharmaceuticals

Infinity Pharmaceuticals, Inc. Filed for Bankruptcy

Infinity Pharmaceuticals, Inc.(OTCPK:INFI) dropped from NASDAQ Composite Index

Infinity Pharmaceuticals Receives Delisting Determination Letter from Nasdaq Regarding Not in Compliance with the Minimum Bid Price Requirement

Infinity Pharmaceuticals Receives Letter from the Listing Qualifications Department of the Nasdaq Stock Market Regarding Minimum MVPHS Requirement

Rosen Law Firm Announces the Filing of A Class Action Lawsuit on Behalf of Purchasers of Securities of Infinity Pharmaceuticals, Inc

Infinity Pharmaceuticals, Inc. Announces Resignation of Samuel Agresta, Sujay R. Kango and Brian Schwartz from Board

MEI Pharma, Inc. (NasdaqCM:MEIP) cancelled the acquisition of Infinity Pharmaceuticals, Inc. (NasdaqGS:INFI) from The Vanguard Group, Inc. and others.

New major risk - Revenue and earnings growth

Infinity Pharmaceuticals, Inc. Provides Additional Information on MARIO-8 Study Evaluating Eganelisib in Combination with the PD-1 Targeted Checkpoint Inhibitor Pembrolizumab (KEYTRUDA®) in Patients with Squamous Cell Cancer of the Head and Neck

Infinity Pharmaceuticals Receives a Letter from the Listing Qualifications Department of the Nasdaq Stock Market

First quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Full year 2022 earnings: EPS and revenues miss analyst expectations

Price target increased by 20% to US$4.00

Consensus revenue estimates increase by 276%

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

Is Infinity Pharmaceuticals (NASDAQ:INFI) In A Good Position To Invest In Growth?

Infinity Pharmaceuticals: Waiting For A Deal

Consensus estimates of losses per share improve by 10%

Second quarter 2022 earnings: EPS and revenues exceed analyst expectations

Is Infinity Pharmaceuticals (NASDAQ:INFI) In A Good Position To Invest In Growth?

Consensus revenue estimates increase by 20%

First quarter 2022 earnings: Revenues exceed analysts expectations while EPS lags behind

Price target decreased to US$6.67

Consensus revenue estimates increase by 232%

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Price target decreased to US$9.00

We're Hopeful That Infinity Pharmaceuticals (NASDAQ:INFI) Will Use Its Cash Wisely

Price target increased to US$9.71

Investigating Infinity Pharmaceuticals

Third quarter 2021 earnings released: US$0.12 loss per share (vs US$0.16 loss in 3Q 2020)

Consensus revenue estimates increase to US$1.89m

Second quarter 2021 earnings released: US$0.13 loss per share (vs US$0.17 loss in 2Q 2020)

Infinity Pharmaceuticals (NASDAQ:INFI) Is In A Good Position To Deliver On Growth Plans

Consensus forecasts updated

Increases to Infinity Pharmaceuticals, Inc.'s (NASDAQ:INFI) CEO Compensation Might Cool off for now

Consensus forecasts updated

First quarter 2021 earnings released: US$0.15 loss per share (vs US$0.19 loss in 1Q 2020)

Is Infinity Pharmaceuticals (NASDAQ:INFI) In A Good Position To Deliver On Growth Plans?

Consensus forecasts updated

Full year 2020 earnings released: US$0.68 loss per share (vs US$0.83 loss in FY 2019)

Are Institutions Heavily Invested In Infinity Pharmaceuticals, Inc.'s (NASDAQ:INFI) Shares?

New 90-day high: US$5.36

Can You Imagine How Jubilant Infinity Pharmaceuticals' (NASDAQ:INFI) Shareholders Feel About Its 147% Share Price Gain?

New 90-day high: US$2.80

Will Infinity Pharmaceuticals (NASDAQ:INFI) Spend Its Cash Wisely?

New 90-day high: US$2.16

Analysts update estimates

New 90-day high: US$1.51

Revenue and earnings beat expectations

Third quarter 2020 earnings released: US$0.16 loss per share

Stabilité et croissance des paiements

Rendement des dividendes par rapport au marché

Bénéfice distribué aux actionnaires

Paiement en espèces aux actionnaires

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Analyse de l'entreprise et données financières

Sources de données

Modèle d'analyse et flocon de neige

Indicateurs de l'industrie et du secteur

Sources des analystes