CAMBRIDGE, Mass. (AP) _ Infinity Pharmaceuticals Inc. (INFI) on Wednesday reported a third-quarter loss of $11.4 million, after reporting a profit in the same period a year earlier.
On a per-share basis, the Cambridge, Massachusetts-based company said it had a loss of 20 cents.
The results did not meet Wall Street expectations. The average estimate of three analysts surveyed by Zacks Investment Research was for a loss of 18 cents per share.
The drugmaker posted revenue of $343,000 in the period.
In the final minutes of trading on Wednesday, the company's shares hit $1.02. A year ago, they were trading at $2.