Infinity Pharmaceuticals Inc. said Monday its third-quarter loss narrowed on a boost in payments from its partnership with Purdue Pharmaceutical Products LP and Mundipharma International Corp.
The company lost $9.3 million, or 36 cents per share, compared with a loss of $12.4 million, or 63 cents per share, during the same period a year prior. Revenue surged to $13.8 million from $2.5 million.
Analysts polled by Thomson Reuters expected a loss of 44 cents per share on revenue of $12.4 million.
Infinity has several compounds in development, aimed at various types of cancer.
Shares of Infinity added 5 cents to $5.78 in morning trading Tuesday.