latest news releases from the newsroom
Infinity Pharmaceuticals, Inc.
Infinity Initiates International Phase 3 Registration Trial of IPI-504 in Patients With Refractory GIST
CAMBRIDGE, Mass., Oct. 24, 2008 (GLOBE NEWSWIRE) -- Infinity Pharmaceuticals, Inc. (Nasdaq:INFI) today announced initiation of a Phase 3 registration trial of IPI-504 (retaspimycin hydrochloride), its lead inhibitor of heat shock protein 90 (Hsp90), in patients with refractory gastrointestinal stromal tumors (GIST). Initiation of the Phase 3 trial of IPI-504 follows promising safety and activity data reported earlier this year from a Phase 1 study in patients with refractory GIST and other soft tissue sarcomas. The trial is expected to be completed within approximately two years, positioning IPI-504 as the potential first-in-class Hsp90 inhibitor.
Levi & Korsinsky, LLP
Levi & Korsinsky, LLP Investigates Breach of Fiduciary Duty by the Board of National City Corp.
NEW YORK, Oct. 24, 2008 (GLOBE NEWSWIRE) -- Levi & Korsinsky ("L&K") is investigating breaches of fiduciary duty and other violations of state law by the Board of Directors of National City Corp. ("National City" or the "Company") (NYSE:NCC) arising out of their attempt to sell the Company to PNC Financial Services Group, Inc. ("PNC"). Under the terms of the agreement, National City shareholders will be entitled to 0.0392 share of PNC common stock for each share of National City stock for a total sale price of approximately $5.2 billion. Based on the October 23, 2008 closing price of PNC stock, the value National City shareholders are to receive is approximately $2.23 per share. The price is unfair given that the Company's share closed at $2.75 on October 23, 2008 and the Company has more than $3.99 per share in cash. The proposed acquisition is subject to customary conditions and regulatory approvals.