Revenues in the first quarter were $2.1 million, which mainly relates to the achievement of a $2-million milestone from PellePharm for the initiation of a phase III study, investigating patidegib (a hedgehog pathway inhibitor) in patients with Gorlin Syndrome. The company did not realize any revenues in the year-ago quarter. Revenues missed the Zacks Consensus Estimate of $10 million. Infinity recognized the $30-million gross proceeds from the Copiktra royalty monetization as a liability, net of transaction costs, as of Mar 31, 2019. The company is amortizing the liability to non-cash interest expenses, and will continue to recognize the royalty revenues that Verastem pays to HealthCare Royalty Partners III, L.P. (HCR) as non-cash royalty revenues. 2019 Outlook The company expects net loss for 2019 to range from $40 million to $50 million, including the Copiktra royalty monetization updated from the previous guidance of $30-$40 million.