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Infinity Announces Proposed Public Offering Of Common Stock

Stocks in this article: INFI

Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) today announced that it has commenced an underwritten public offering of shares of its common stock. All of the shares in the offering are to be sold by Infinity.

The joint book-running managers for the proposed offering are Morgan Stanley & Co. LLC and J.P. Morgan Securities LLC. BofA Merrill Lynch and Deutsche Bank Securities Inc. are acting as co-lead managers. Additionally, Stifel Nicolaus Weisel is acting as co-manager. Infinity intends to grant the underwriters a 30-day option to purchase up to an additional 15 percent of the amount sold to cover over-allotments, if any. The offering is subject to market conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Infinity anticipates using the net proceeds from the offering for research and development expenditures (including costs associated with the continuing clinical development of its product candidate IPI-145), as well as for working capital, capital expenditures, potential acquisitions of new businesses, technologies or products that the company believes have the potential to complement or expand its business, and other general corporate purposes.

The securities described above are being offered by Infinity pursuant to an automatically effective shelf registration statement that was previously filed with the Securities and Exchange Commission (SEC). This press release does not constitute an offer to sell or a solicitation of an offer to buy the securities in this offering, nor shall there be any sale of these securities, in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. Preliminary and final prospectus supplements related to the offering will be filed with the SEC and will be available on the SEC's website located at www.sec.gov. Copies of the preliminary and final prospectus supplements relating to this offering, in each case with the accompanying prospectus, may be obtained, when available, from:

Morgan Stanley & Co. LLC     J.P. Morgan Securities LLC
Attn: Prospectus Department c/o Broadridge Financial Solutions
180 Varick Street, 2nd Floor 1155 Long Island Avenue
New York, NY 10014 Edgewood, NY 11717
Phone: 866-718-1649 Phone: 866-803-9204

Email: prospectus@morganstanley.com

About Infinity Pharmaceuticals, Inc.

Infinity is an innovative drug discovery and development company seeking to discover, develop and deliver to patients best-in-class medicines for diseases with significant unmet need. Infinity combines proven scientific expertise with a passion for developing novel small molecule drugs that target emerging disease pathways. Infinity’s programs focused on the inhibition of phosphoinositide-3-kinase and heat shock protein 90 are evidence of its innovative approach to drug discovery and development.

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