Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) Q2 2020 Earnings Conference Call - Final Transcript

Jul 30, 2020 • 04:30 pm ET


Infinity Pharmaceuticals, Inc. (NASDAQ:INFI) Q2 2020 Earnings Conference Call - Final Transcript


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Ladies and gentlemen, thank you for standing by. Welcome to Infinity Pharmaceuticals conference call to discuss the company's operations and financial results for the second quarter 2020. My name is Shannon, and I'll be your operator for today's call. [Operator Instructions] There will be a question and answer session that follow. [Operator Instructions].

Now I would like to introduce your host for today's call, Jayne Kauffman. Please go ahead.

Jayne Kauffman

Thank you, Shannon, and good afternoon, everyone. Welcome to today's call to discuss our recent business progress and review our second quarter 2020 financial results. On the call with me today are Adelene Perkins, Chief Executive Officer; Larry Bloch, President; and Brian Schwartz, Consulting Chief Physician. We'll open up the call for Q&A following our remarks.

The press release issued this afternoon details our results and is available on our website at We have also submitted our 10-Q to the SEC, but the filing is pending resolution due to technical issues at EDGAR that are impacting us and other companies. Please note that during this call, we may make forward-looking statements about our future expectations and plans, including clinical development objectives, the therapeutic potential of our product candidates, our strategic plans and strategies and financial projections.

Our actual results may differ materially from what we project today due to a number of important factors, including the considerations described in the Risk Factors section of our annual report on Form 10-Q for the second quarter of 2020 and in other filings we make with the SEC. These forward-looking statements represent our views only as of today, and we caution you that we may not update them in the future, whether as a result of new information, future events or otherwise.

Now I'd like to turn the call over to Adelene.

Adelene Q. Perkins

Thanks, Jayne, and thank you to everyone for joining us today. Our goal at Infinity has been to execute on a robust clinical development plan for eganelisib, also known as IPI-549. We are evaluating eganelisib across different treatment settings and indications to evaluate its potential to improve outcomes for cancer patients by reprogramming macrophages in the tumor microenvironment from a pro-tumor to an antitumor function.

Last quarter, we've provided an update regarding the impact of COVID-19 on our clinical programs and stated that we would provide updated guidance on our second quarter call. While we and our peers are managing the still evolving COVID-19 situation, we're in a much better position to project the magnitude of the impact on our trials and time line.

We'll provide more specific updates during the call, but I'll first briefly review updated guidance across our trials. I'll start with MARIO-275, our randomized controlled Phase II study in collaboration with BMS, in which we are evaluating eganelisib in combination with Opdivo in patients with advanced urothelial cancer.

As we announced in May, we reduced the dose of eganelisib from 40 milligrams to 30 milligrams daily and are now evaluating the safety and efficacy of the 30-milligram dose