Halozyme Therapeutics, Inc. – Halozyme Stock Alert (NASDAQ:HALO)
According to Halozyme:
Halozyme is a clinical-stage biotechnology company focused on developing and commercializing novel cancer therapies that target the tumor microenvironment. Our lead proprietary program, investigational drug PEGPH20 (pegvorhyaluronidase alfa), applies a unique approach to targeting solid tumors, potentially providing increased immune response and tumor access for co-administered anti-cancer therapies.
Abstract Published Regarding Phase IB/II Randomized Study of HALO’s PEGPH20 as Pancreatic Cancer Treatment
An abstract detailing a Phase IB/II randomized study of Halozyme’s drug PEGPH20 as a treatment for pancreatic cancer in combination with the cancer drug mFFOX was published at the American Society of Clinical Oncology (“ASCO”) in connection with a scheduled presentation at the “2018 Gastrointestinal Cancers Symposium.”
According to the abstract, “addition of PEGPH20 to mFFOX is not recommended for further study and appears to be detrimental” after noting that patients who used the mFFOX+PEGPH20 combination experienced higher percentage levels of “Selected GR 3-4 Toxicity,” such as diarrhea, fatigue, nausea, and vomiting, more than those who used mFFOX as a monotherapy.
The abstract, “A phase IB/II randomized study of mFOLFIRINOX (mFFOX) + pegylated recombinant human hyaluronidase (PEGPH20) versus mFFOX alone in patients with good performance status metastatic pancreatic adenocarcinoma (mPC): SWOG S1313 (NCT #01959139),” stated that “PEGPH20 with mFFOX caused increased toxicity (mostly GI and TE events) and decreased treatment duration compared to mFFOX alone” and contained the following table reflecting “Selected GR 3-4 Toxicity” and percentage comparisons between mFFOX and mFFOX+PEGPH20:
Halozyme Stock Drop During Intraday Trading & Halozyme Stock Price Target Lowered
Following this news, Halozyme’s share price fell sharply during intraday trading on January 17, 2018.
According to The Motley Fool (“This News Explains Halozyme Therapeutics’ Double-Digit Drop Today”), Halozyme stock shares fell after a Deutsche Bank analyst lowered his price target to $19 from $21 on HALO’s stock. According to The Motley Fool, HALO stock shares fell 10% as of 11.25 a.m. EST on January 17, 2018.
The Motley Fool reported that although the analyst made the decision to keep his HALO stock buy rating, the analyst “noted that the data from the . . . abstract adds ‘incrementally higher-risk to the PEGPH20 program'” and, according to The Motley Fool, “[g]iven the data, it’s hard to disagree with [the analyst’s] assessment.”
Halozyme Stock (NASDAQ:HALO) Shareholders
Kehoe Law Firm, P.C. is investigating claims on behalf of Halozyme stock investors to determine whether Halozyme Therapeutics, Inc. and certain of its officers or directors engaged in securities fraud or other unlawful business practices. If you purchased Halozyme stock and have questions or concerns about your potential legal rights or claims, please contact John Kehoe, Esq., (215) 792-6676, Ext. 801, [email protected], complete the form above on the right or e-mail [email protected].