Infinity Pharmaceuticals Inc. (INFI) Tuesday reported first-quarter net loss of $27 million or $0.57 per share, wider than last year's net loss of $10.7 million or $0.40 per share.
On average, seven analysts polled by Thomson Reuters estimated a loss of $0.67 per share for the quarter. Analysts' estimates typically exclude special items.
Infinity did not record any revenue during the recent quarter, while in the prior year, it had revenue of $25 million, due mainly for reimbursed R&D services under an alliance with Purdue Pharmaceutical Products L.P. and Mundipharma International Corp. Ltd.
Research and development expense for the quarter was $20 million, compared with $28.6 million a year ago.
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