On Friday, Shares of Shares of 3M Co (NYSE:MMM), inclined 0.60% to $148.28, during its last trading session.
3M, declared that David B. Dillon, stepped down chairman and chief executive officer of The Kroger Co., has been elected to 3M’s Board of Directors, effective Aug. 9, 2015.
Dillon’s planned leadership in the consumer products business comprises serving as Kroger’s Chief Executive Officer from 2003 through 2013, and Chairman of the Board from 2004 to 2014. Preceding to that, he held a variety of executive positions counting chief operating officer and executive vice president. He also served in numerous leadership roles at the Dillon Companies Inc., a wholly-owned partner of The Kroger Co.
“We are extremely happy to welcome Mr. Dillon to our board,” said Inge Thulin, 3M chairman, president and chief executive officer. “As the former leader of one of the world’s largest retailers, Dillon brings vast experience and a strong understanding of the customer’s point of view and exceptional knowledge of complex operations.”
3M Company operates as a diversified technology company worldwide. Its Industrial segment offers tapes; coated, non-woven, and bonded abrasives; adhesives; ceramics; sealants; specialty materials; filtration products; closure systems for personal hygiene products; acoustic systems products; automotive components; abrasion-resistant films; structural adhesives; and paint finishing and detailing products.
At the end of Friday’s trade, Shares of Paychex, Inc. (NASDAQ:PAYX), gained 0.35% to $48.30.
Paychex declared the launch of the Paychex Multicultural Business Development Ambassador Program. Through the program, Paychex is investing in the country’s 3.2 million Hispanic-owned businesses by tapping into the knowledge and talent of its workforce to assist Hispanic businesses succeed.
As part of the program, business owners will have access to the payroll, HR, and benefits expertise of Paychex and its employees, with multicultural ambassadors hosting educational seminars and workshops throughout the country.
Paychex, Inc. provides payroll, human resource, insurance, and benefits outsourcing solutions for small to medium-sized businesses in the United States and Germany. The company offers payroll processing services that comprise the calculation, preparation, and delivery of employee payroll checks; production of internal accounting records and administration reports; preparation of federal, state, and local payroll tax returns; and collection and remittance of clients payroll obligations.
Finally, Infinity Pharmaceuticals Inc. (NASDAQ:INFI), ended its last trade with 2.15% gain, and closed at $9.51.
Infinity Pharmaceuticals, declared its second quarter 2015 financial results and ongoing progress with duvelisib an oral, dual inhibitor of phosphoinositide-3-kinase (PI3K)-delta and PI3K-gamma. Infinity also declared that the U.S. Food and Drug Administration (FDA) granted Fast Track designation for the investigation of duvelisib for the treatment of patients with chronic lymphocytic leukemia (CLL) who have received at least one preceding therapy. The FDA established the Fast Track designation process to facilitate the development and expedite the review of investigational medicines intended to treat serious or life-threatening conditions and that demonstrate the potential to address unmet medical needs. Infinity is conducting registration-focused trials evaluating the safety and efficacy of duvelisib, counting DYNAMOTM, a Phase 2 study in patients with refractory indolent non-Hodgkin lymphoma (iNHL), and DUOTM, a Phase 3 study in patients with CLL.
“The quarter was marked by continued clinical development progress for duvelisib, particularly with DYNAMO and DUO. The first completion of enrollment in either DYNAMO or DUO, both of which we expect to occur in the second half of this year, will trigger a $130 million milestone payment from AbbVie, our global development and commercialization partner for duvelisib in oncology,” stated Adelene Perkins, Infinity’s chair, president and chief executive officer. “We are also happy to have recently received Fast Track designation for the investigation of duvelisib for the treatment of chronic lymphocytic leukemia, which supports our belief in the potential of duvelisib to assist fill an important medical need. We look forward to leveraging the opportunities that Fast Track designation allows in order to maximize the possibility of an accelerated path to approval.”
Duvelisib is the only investigational PI3K-delta,gamma inhibitor in Phase 3 clinical development and has the potential to be a first-in-class treatment for certain types of hematologic malignancies, or blood cancers. In addition to the DYNAMO and DUO studies, Infinity is ongoing to enroll patients in CONTEMPO, a Phase 1b/2 study in treatment-naïve patients with follicular lymphoma, and SYNCHRONY, a Phase 1b study in CLL patients whose disease is refractory to or has relapsed while receiving a BTK inhibitor. Infinity also anticipates that the first clinical study of duvelisib in combination with venetoclax, AbbVie’s first-in-class investigational B-cell lymphoma-2 (BCL-2) selective inhibitor, will start this year.
Infinity Pharmaceuticals, Inc., a drug discovery and development company, discovers, develops, and delivers medicines to patients with difficult-to-treat diseases. Its lead product candidate comprises IPI-145, an oral inhibitor of the delta and gamma isoforms of phosphoinositide-3-kinase (PI3K) for the treatment of hematologic malignancies.
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