Infinity Pharma (INFI) Reports Q3 EPS of $2.03, Offers Guidance

Infinity Pharma (NASDAQ: INFI) reported Q3 EPS of $2.03, versus $0.71 reported last year. Revenue for the quarter came in at $160 million.

2014 Financial Guidance

Infinity today provided updated financial guidance for 2014. These updates are based on the commencement of Infinity’s global strategic collaboration with AbbVie Inc. to develop and commercialize duvelisib which began in September 2014.

Infinity’s current financial guidance for 2014 is as follows:

• Revenue: Infinity expects revenue for 2014 to range from $160 million to $170 million. Previously, Infinity did not expect to recognize any revenue in 2014.
• Operating Expenses: Infinity expects operating expenses for 2014 to range from $175 million to $185 million, compared to prior expectations of $170 million to $180 million.
• Net Loss: Infinity expects net loss for 2014 to range from $20 million to $30 million, compared to prior expectations of $170 million to $180 million.
• Cash and Investments: Infinity expects to end 2014 with a year-end cash and investments balance ranging from $320 million to $330 million, compared to prior expectations of $40 million to $50 million.

For earnings history and earnings-related data on Infinity Pharma (INFI) click here.

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