Shares of Infinity Pharmaceuticals Inc. soared Wednesday after it said it could receive more than $800 million from a collaboration with fellow drug developer AbbVie on a potential cancer treatment.
Cambridge, Massachusetts-based Infinity will receive $275 million upfront plus up to $530 million in additional payments if the treatment, duvelisib, reaches certain development and commercial milestones. Infinity is studying duvelisib as a possible treatment for blood cancers like leukemia and non-Hodgkin lymphoma.
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