Halozyme Therapeutics Inc (HALO)

[Fred Kadiddlehopper]

The Roche 5% is more firmly lodged in memory than the BAX deal. (That might be why I've habitually taken to using 5% in my back of the napkin figuring as I mentioned to FOTD today.)
As I recall, and I freely admit that this may be in error, BAX and HTI already had a deal in place before Roche came along at the end of '06. In fact, the reason I was attracted to HTI (now HALO after uplisting to NASDAQ) in Q2 or Q3 '06 was that I saw BAX as an indicator that this little 2 buck per share company had some nice potential. Then, shortly after I started a position, Roche dropped their bomb and Dr. Lim started spouting off about rHUph20 having a thousand possible indications.
In any event, if I am right about the chronology, I may have missed the details of the BAX deal because I arrived after the ink was dry and the royalty numbers were already being obscured. Does this sequence of events sound right to you?
But, that being said, 5% from Roche sounds to me like the right figure. As for BAX, if they sell $140 million per year then 7% brings us to near $10 million. I'll take it.
-Fritz