Infinity Pharmaceuticals reports Q2 EPS (12c), consensus (20c)
As of June 30, the company had cash and cash equivalents of $49.2M. "Excluding a potential $22M contingent payment in cash or stock from Verastem, we believe that our current cash and cash equivalents will be adequate to satisfy our capital needs through the third quarter of 2019 based on our current operational plans. Our estimate as to how long we expect our existing cash and cash equivalents to be able to continue to fund our operations is based on assumptions that may prove to be wrong, and we could use our available capital resources sooner than we currently expect. Further, changing circumstances, some of which may be beyond our control, could cause us to consume capital significantly faster than we currently anticipate," the company added.