---
schema_version: "secwatch.filing_event.v1"
accession: "0001140361-23-036062"
form_type: "8-K"
ticker: null
cik: "0001113148"
company_name: "INFINITY PHARMACEUTICALS, INC."
filed_at: "2023-07-25T23:59:59+00:00"
generated_at: "2026-06-13T02:49:30.838548+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.95
calibrated_materiality_score: 0.95
confidence: "high"
source: SEC EDGAR
---

# Infinity Pharma cuts 78% of workforce, three directors resign, seeks strategic alternative for eganelisib

## Summary
- Headcount reduced by 21 positions (78% of workforce); expects $3.4M severance charge in Q3 2023.
- Three board members (Agresta, Kango, Schwartz) resign; remaining five directors serve without compensation.
- Company hires SSG Capital Advisors to lead strategic process to maximize value of eganelisib.
- Company evaluating withdrawal of Nasdaq delisting appeal; withdrawal likely leads to stock delisting.
- Merger agreement with MEI Pharma terminated; seeking alternative strategic transaction for eganelisib.

## SEC filing metadata
- accession: 0001140361-23-036062
- form_type: 8-K
- cik: 0001113148
- company_name: INFINITY PHARMACEUTICALS, INC.
- filed_at: 2023-07-25T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.95
- calibrated_materiality_score: 0.95
- confidence: high
- sec_items: 2.05, 5.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1113148/000114036123036062/0001140361-23-036062-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1113148/000114036123036062/brhc20056430_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001140361-23-036062
- JSON: https://secwatch.observer/filing/0001140361-23-036062.json
- Plain text: https://secwatch.observer/filing/0001140361-23-036062.txt

## Key facts
- Executive change
  Sujay R. Kango resigned as Director at INFINITY PHARMACEUTICALS, INC..
  - Action: resigned
  - Role: Director
  source text: On July 24, 2023, each of Samuel Agresta, Sujay R. Kango and Brian Schwartz resigned from the Board, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1113148/000114036123036062/0001140361-23-036062-index.htm
- Executive change
  Samuel Agresta resigned as Director at INFINITY PHARMACEUTICALS, INC..
  - Action: resigned
  - Role: Director
  source text: On July 24, 2023, each of Samuel Agresta, Sujay R. Kango and Brian Schwartz resigned from the Board, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1113148/000114036123036062/0001140361-23-036062-index.htm
- Executive change
  Brian Schwartz resigned as Director at INFINITY PHARMACEUTICALS, INC..
  - Action: resigned
  - Role: Director
  source text: On July 24, 2023, each of Samuel Agresta, Sujay R. Kango and Brian Schwartz resigned from the Board, effective immediately.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1113148/000114036123036062/0001140361-23-036062-index.htm
- Restructurings & Charges
  INFINITY PHARMACEUTICALS, INC. announced a restructuring with charges of approximately $3.4 million (21 positions, representing approximately 78% of the Company’s workforce).
  - Type: restructuring
  - Charge: approximately $3.4 million
  - Headcount: 21 positions, representing approximately 78% of the Company’s workforce
  source text: reduction is expected to be completed by the end of the third quarter of 2023. The Company expects to incur a one-time charge in the third quarter of 2023 of approximately $3.4 million in severance and restructuring costs in connection with the workforce reduction. This charge primarily relates to severance payments and employee benefits. The estimates of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1113148/000114036123036062/0001140361-23-036062-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.