Infinity to raise $77m from stock offer in wake of layoffs
This article was originally published in Scrip
Executive Summary
Infinity Pharmaceuticals priced a 5.3 million-share common stock offering at $14.50 per share on 9 August for gross proceeds of $76.9 million to fund research and development for its two lead product candidates and other expenses two days after it announced a 20% work force reduction at its Cambridge, Massachusetts headquarters (scripintelligence.com, 9 August 2012).