–Encouraging one-year progression free survival rates in MARIO-3 1L TNBC study regardless of PD-L1 status–

- 52% increase in one-year progression free survival rate in ITT patient population compared to IMpassion130 benchmark -

Infinity Pharmaceuticals, Inc. (NASDAQ: INFI) (“Infinity” or the “Company”), a clinical-stage biotechnology company developing eganelisib, a first-in-class, oral, immuno-oncology macrophage reprogramming therapeutic, today reported an update from its MARIO-3 study of eganelisib in combination with atezolizumab and nab-paclitaxel in front-line metastatic triple negative breast cancer (TNBC) patients.

“Given our goal of improving long-term patient outcomes, we are particularly pleased to see that the addition of eganelisib to standard of care therapy showed benefit in the one-year progression free survival rate in MARIO-3 regardless of PD-L1 status,” said Robert Ilaria, Jr., MD, Chief Medical Officer of Infinity. “These data reinforce the positive two-year landmark overall survival data from MARIO-275 in 2L urothelial cancer, also regardless of PD-L1 status, and the encouraging PFS observed in checkpoint inhibitor refractory squamous cell cancer of the head and neck in our MARIO-1 study, which all support the potential of eganelisib to improve long term outcomes for patients.”

MARIO-3 mTNBC Updated Data:

• 62 patients were enrolled and evaluable for safety, and 57 patients were evaluable for efficacy, with a median duration of follow-up of 10.0 (8.1,14.2) months. Of the 57 evaluable patients:
  • 35 patients (61.4%) had PD-L1(-) tumors
  • 18 patients (31.6%) had PD-L1(+) tumors
  • 4 patients (7.0%) had tumors of undetermined PD-L1 status
• With an additional year of data maturity since the San Antonio Breast Cancer Symposium 2021, there is now encouraging evidence of a long-term patient progression-free survival (PFS) benefit with improved one-year PFS rates in MARIO-3, including in patients with both PD-L1(+) and PD-L1(-) tumors, compared to the benchmark IMpassion130 study.

• Additional data from the MARIO-3 study, by patient population and relative to IMpassion130 benchmarks:

• No new safety signals were observed during the extended period on treatment, and the MARIO-3 safety profile continued to be consistent with expectations for the three component drugs.
• Most Common Treatment-Related TEAEs in ≥ 10% of All Treated Patients^* (n=62)

• Treatment Discontinuation:
  
  74% of patients were able to remain on treatment with the MARIO-3 TNBC triplet regimen compared to 81% of patients with the IMpassion130 doublet.

About Infinity and Eganelisib

Infinity Pharmaceuticals, Inc. (“Infinity” or the “Company”), is a clinical-stage biotechnology company developing eganelisib (IPI-549), a first-in-class, oral, immuno-oncology macrophage reprogramming therapeutic which is designed to address a fundamental biologic mechanism of immune suppression in cancer in multiple clinical studies. MARIO-3 is the first eganelisib combination study in front-line advanced cancer patients and is evaluating eganelisib in combination with Tecentriq^® and Abraxane^® in front-line TNBC and in combination with Tecentriq and Avastin^® in front-line RCC. MARIO-275 is a randomized, controlled combination study of eganelisib combined with Opdivo^® in I/O naïve urothelial cancer. For more information on Infinity, please refer to Infinity's website at www.infi.com.

Cautionary Note Regarding Forward-Looking Statements

This press release contains forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Such forward-looking statements include the Company’s guidance with respect to the therapeutic potential of eganelisib and the Company's ability to execute on its strategic plans. Such statements are subject to numerous important factors, risks and uncertainties that may cause actual events or results to differ materially from the Company's current expectations. For example, there can be no guarantee that eganelisib will successfully complete necessary preclinical and clinical development phases or will be successful in establishing a strategic partnership to further the development of eganelisib. Further, there can be no guarantee that any positive developments in Infinity's product portfolio will result in stock price appreciation. Management's expectations and, therefore, any forward-looking statements in this press release could also be affected by risks and uncertainties relating to a number of other factors, including the following: results of clinical trials and preclinical studies, including subsequent analysis of existing data and new data received from ongoing and future studies; the cost, timing and results of clinical trials; the content and timing of decisions made by the U.S. FDA and other regulatory authorities; Infinity's ability to obtain and maintain requisite regulatory approvals; unplanned cash requirements and expenditures; development of agents by Infinity's competitors for diseases in which Infinity is currently developing or intends to develop eganelisib; and Infinity's ability to obtain, maintain and enforce patent and other intellectual property protection for eganelisib. These and other risks which may impact management's expectations are described in greater detail under the caption "Risk Factors" included in Infinity's annual report and quarterly reports filed with the Securities and Exchange Commission (SEC), and in other filings that Infinity makes with the SEC, available through the Company’s website at www.infi.com. Any forward-looking statements contained in this press release speak only as of the date hereof, and Infinity does not undertake and expressly disclaims any obligation to update any forward-looking statements, whether as a result of new information, future events or otherwise.

Opdivo^® is a registered trademark of Bristol Myers Squibb.

Tecentriq^® is a registered trademark of Genentech, Inc.

Abraxane^® is a registered trademark of Abraxis BioScience, LLC., a wholly owned subsidiary of Bristol Myers Squibb Company.

Avastin^® is a registered trademark of Genentech, Inc.

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