Infinity Pharmaceuticals filed for Chapter 11 bankruptcy in a Delaware court last Friday, a little over two months after it laid off about 78% of its workforce following a failed merger with MEI Pharma.
With hopes of a merger with MEI Pharma now sunk for good, Infinity Pharmaceuticals is jettisoning three-quarters of its staff and three board members to stay afloat while it scans the horizon for another financial life raft.
Infinity Pharmaceuticals Announces Value Preservation and Maximization Plan
Infinity Pharmaceuticals' merger saga has rumbled on almost as long as its namesake, but finally the biotech has closure—just not the way it wanted.
Infinity Pharmaceuticals Announces Stockholder Approval of Merger with MEI Pharma
SAN DIEGO--(BUSINESS WIRE)--MEI Pharma, Inc. (NASDAQ: MEIP) (the “Company”) today reminded shareholders to vote FOR the Company’s pending transaction with Infinity Pharmaceuticals, Inc. (Nasdaq: INFI) (“Infinity”) in connection with the upcoming special meeting on July 14, 2023.
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Infinity Pharmaceuticals, Inc. (Nasdaq: INFI) (“Infinity”), a clinical-stage biotechnology company developing eganelisib, a first-in-class, oral, immuno-oncology macrophage reprogramming drug candidate, announced further design features of its Phase 2 MARIO-8 study in SCCHN.
MEI Pharma Reminds Shareholders to Vote FOR the Merger with Infinity Pharmaceuticals
CAMBRIDGE, Mass.--(BUSINESS WIRE)--Infinity Pharmaceuticals, Inc. (Nasdaq: INFI) (“Infinity”), a clinical-stage biotechnology company developing eganelisib, a potential first-in-class, oral, immuno-oncology macrophage reprogramming drug candidate, announced today that leading independent proxy advisor Institutional Shareholder Services Inc. (“ISS”) has recommended that Infinity stockholders vote FOR the merger with MEI Pharma, Inc. (Nasdaq: MEIP) (“MEI”).
SAN DIEGO--(BUSINESS WIRE)--MEI Pharma, Inc. (NASDAQ: MEIP) (the “Company”) today issued the following letter to shareholders reiterating the Board of Directors recommendation to vote FOR the pending transaction with Infinity Pharmaceuticals, Inc. (Nasdaq: INFI) (“Infinity”) in connection with the Company’s special meeting on July 14, 2023: