Infinity Pharmaceuticals revealed in its second quarter 2012 financial report that it cut 20% of its workforce - 40 employees at the company's Cambridge, Massachusetts headquarters - after shutting down its Hedgehog pathway programme and renegotiating its partnership with Mundipharma International.
Infinity had $104.6 million in cash and investments as of 30 June compared to a $104.9 million cash balance on 31 March. But despite a stable cash position, with $28.5...