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Biotech. Thank you for your insights into Halo. I’ve been in the stock for 16 years now and have never sold a share or a call against my position. I’ve only added once when the stock cratered on news that the FDA put a hold on Enhanze. Helen is one of the best CEOs that I’ve ever seen in my 40 years of investing and I’m not selling until she decides to sell the Company. I initially said that about Kirk but decided that I trusted her judgment over his when he unloaded his position to raise cash for his disaster Intrexon. I’m sticking with my initial prediction that this is a 100 stock at some point. I bought at 3. I’m hoping that the FDA will reduce the length of time for approval at some point. BTW today was an all time high for the stock. It hit 56 and change a few years ago and closed the same day under 50. Keep up the good work!!!!
Biotech. Thank you for your insights into Halo. I’ve been in the stock for 16 years now and have never sold a share or a call against my position. I’ve only added once when the stock cratered on news that the FDA put a hold on Enhanze. Helen is one of the best CEOs that I’ve ever seen in my 40 years of investing and I’m not selling until she decides to sell the Company. I initially said that about Kirk but decided that I trusted her judgment over his when he unloaded his position to raise cash for his disaster Intrexon. I’m sticking with my initial prediction that this is a 100 stock at some point. I bought at 3. I’m hoping that the FDA will reduce the length of time for approval at some point. BTW today was an all time high for the stock. It hit 56 and change a few years ago and closed the same day under 50. Keep up the good work!!!!
There have been a ton of predictions on this board over the past few years that our rallies are not real and will be short-lived. In 30’s, our resident experts said it will go back to 20’s. In 40’s, they said back to 30’s, so on and so forth until very recently.
The point they are missing is that these rallies are based on fundamentals of earnings growth and high profit margin. It is in fact, the dips that are short-lived and not based on reality. So you would do quite well by adding to your holdings every time there is one.
Wells Fargo initiated coverage of Halozyme Therapeutics with a rating of Overweight and set a new price target of $65.00
https://quantisnow.com/insight/3733681
Intereting question about the convertibles. What are their functions in the original deal? What is the consequence to the financing arrangement if they choose to convert?
Well, MS and JPM have PTs of $53 and $54 so I guess they also think it's fully valued now. I wish I knew if they project a step-down in the royalty rate in 2024 and 2027 and for what products. The lack of clarity about this is the biggest issue for me. Does Halo management know but they are not allowed to disclose it? Have the co-formulation patents not been issued yet so they don't know yet? At some point, they are going to have to tell us. I suspect most analysts expect a step-down for at least some products and the stock will go higher if it turns out there is no step-down, especially if there is no step-down in the royalty rate for Darzalex Faspro. Concentration risk is slowly coming down and we now have 6 Enhanze products in phase 3 trials. If the royalty rate remains at 4% for most products, I would think the stock will keep going up.
The stock made a new closing high today. Volume was pretty low and there wasn't much option activity, though. We are getting close to the conversion price of the convertible notes ($56.02). Do you think this will affect the stock price in any way?
"The Convertible Notes will be senior, unsecured obligations of the Company and will accrue interest payable semi-annually in arrears at an annual rate of 1.00%. The Convertible Notes have an initial conversion rate of 17.8517 shares of the Company's common stock per $1,000 principal amount of Convertible Notes (which is equivalent to an initial conversion price of approximately $56.02 per share of the Company's common stock, representing an initial conversion premium of approximately 30% above the closing price of $43.09 per share of the Company's common stock on August 15, 2022)."
Currently HALO is fully valued, IMHO, so there is the risk of a downgrade. Efgartigimod is most likely not going to start showing up in the bottom line until 2nd half 2023 at the earliest.
Thanks. HALO PR department has some updating to do on their parter pipeline chart, both for
Nivolumab + Relatlimab (phase 1 to phase 3) and for Efgartigimod (now filed)
https://halozyme.com/enhanze/#pipeline_group_1
I guess that is what they come up with on a DCF basis but who knows why they bother with tiny changes to their PTs. The other odd thing is that they raised their FY22E EPS estimate from 2.15 to 2.25 and lowered their FY23E estimate from 3.13 to 2.87, which are slightly higher than the current high estimate (2.2) for 2022 and lower than the low estimate (2.91) for 2023 on yahoo.finance. So they are overweight but less bullish than all the other analysts for 2023 on the day we find out Halo will most likely have another Enhanze product in March 2023.
I am concerned that even if the stock breaks out, large firms like JPM or MS may downgrade the stock if they don't raise their PTs.
argenx Announces U.S. FDA Acceptance of Biologics License Application for Subcutaneous Efgartigimod in Generalized Myasthenia Gravis with Priority Review
November 22 2022 - 01:00AM
GlobeNewswire Inc.
- Prescription Drug User Fee Act (PDUFA) target action date is March 20, 2023
- Submission based on positive results from the Phase 3 bridging study demonstrating noninferior total IgG reduction at day 29 with subcutaneously (SC) administered efgartigimod compared to intravenous (IV) administration
November 22, 2022
Amsterdam, the Netherlands – argenx SE (Euronext & Nasdaq: ARGX), a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases, today announced the U.S. Food and Drug Administration (FDA) has accepted for priority review a Biologics License Application (BLA) for SC efgartigimod (1000mg efgartigimod-PH20) for the treatment of adult patients with generalized myasthenia gravis (gMG).
The application has been granted a Prescription Drug User Fee Act (PDUFA) target action date of March 20, 2023.
SC efgartigimod is co-formulated with recombinant human hyaluronidase PH20 (rHuPH20), Halozyme's ENHANZE® drug delivery technology. ENHANZE facilitates the SC injection delivery of biologics that are typically administered via IV infusion.
“The FDA’s acceptance of our BLA is an exciting step toward fulfilling our vision of delivering the broadest gMG treatment offering that reflects the unique disease experience for each patient as they navigate life with this debilitating disease. We’re excited about the potential of SC efgartigimod to offer patients multiple ways to receive treatment through various administrations and an individualized dosing schedule,” said Keith Woods, Chief Operating Officer of argenx. “With an established PDUFA date, we are preparing for our second commercial product launch and look forward to potentially bringing forth another first-in-class option for gMG patients.”
The BLA submission is supported by data from the Phase 3 ADAPT-SC study evaluating the noninferiority of the pharmacodynamic (PD) effect of SC efgartigimod as compared with IV administered VYVGART in adult patients with gMG. The majority of enrolled patients were positive for acetylcholine receptor (AChR) antibodies, but the trial also included patients where AChR antibodies were not detected.
ADAPT-SC met its primary endpoint (p< 0.0001) of total IgG reduction from baseline at day 29 demonstrating noninferiority of SC efgartigimod to VYVGART. Patients treated with SC efgartigimod achieved mean total IgG reduction of 66.4% from baseline at day 29, compared to 62.2% reduction with VYVGART. Results were consistent across the overall population, including those with AChR antibodies and patients where AChR antibodies were not detected. Further, 69.1% of patients treated with SC efgartigimod were responders on the Myasthenia Gravis Activities of Daily Living (MG-ADL) score. Responders are defined as having at least a two-point improvement on the MG-ADL score for at least four consecutive weeks. 65.5% of patients treated with SC efgartigimod were responders on the Quantitative Myasthenia Gravis (QMG) score. Responders are defined as having at least a three-point improvement on the QMG score for at least four consecutive weeks. Minimal symptom expression (MSE), a measure of symptom-free status, was achieved in 37% of SC efgartigimod-treated patients after one treatment cycle. Onset of effect was also consistent with the Phase 3 ADAPT study.
The safety profile for SC efgartigimod was consistent with the ADAPT study. It was generally well-tolerated; the most frequent adverse event being injection site reactions (ISRs), commonly observed with biologics administered subcutaneously. All ISRs were mild to moderate and resolved over time. After completing ADAPT-SC, 95% of participants entered ADAPT-SC+, a three-year open-label extension study evaluating the long-term safety and tolerability of SC efgartigimod.
Phase 3 ADAPT-SC Trial Design
The Phase 3 ADAPT-SC trial was a multicenter, randomized, open-label, parallel-group study evaluating the noninferiority of the pharmacodynamic (PD) effect of SC efgartigimod (1000mg efgartigimod-PH20) as compared with VYVGART (10mg/kg) in patients with gMG. The pharmacodynamic effect as measured by percent change from baseline in total IgG levels at day 29, one week after the last dose of IV or SC efgartigimod, served as the primary endpoint in the ADAPT-SC trial. The correlation between total IgG reduction and clinical benefit in gMG was demonstrated in a Phase 2 trial and the Phase 3 ADAPT trial, which served as the basis for approval of VYVGART in the U.S., Japan and Europe. Safety, clinical efficacy, immunogenicity and pharmacokinetics (PK) were also assessed.
A total of 110 adult patients with gMG in North America, Europe and Japan enrolled in the ADAPT-SC trial and were treated. Inclusion criteria of the trial were the same as the Phase 3 ADAPT trial of VYVGART; enrolled patients had a confirmed gMG diagnosis and an MG-ADL total score of at least 5 with greater than 50% of the total score attributed to non-ocular symptoms, at screening and baseline. Patients were on a stable dose of at least one gMG treatment prior to randomization, including acetylcholinesterase inhibitors, corticosteroids or nonsteroidal immunosuppressive drugs, and were required to remain on that stable dose throughout the primary trial. Patients were eligible to enroll in ADAPT-SC regardless of antibody status, including patients with AChR antibodies (AChR-Ab+) and patients where AChR antibodies were not detected.
Patients were randomized in a 1:1 ratio to receive SC efgartigimod or IV efgartigimod for one treatment cycle consisting of four doses at weekly intervals. The total study duration was approximately 12 weeks, including seven weeks of follow-up after the treatment cycle.
See the full Prescribing Information for VYVGART in the U.S., which includes the below Important Safety Information. For more information related to VYVGART in Japan, visit argenx.jp.
IMPORTANT SAFETY INFORMATION FOR VYVGART® (efgartigimod alfa-fcab) intravenous (IV) formulation (U.S. PRESCRIBING INFORMATION)
What is VYVGART® (efgartigimod alfa-fcab)?
VYVGART is a prescription medicine used to treat a condition called generalized myasthenia gravis, which causes muscles to tire and weaken easily throughout the body, in adults who are positive for antibodies directed toward a protein called acetylcholine receptor (anti-AChR antibody positive).
What is the most important information I should know about VYVGART?
VYVGART may cause serious side effects, including:
Infection. VYVGART may increase the risk of infection. In a clinical study, the most common infections were urinary tract and respiratory tract infections. More patients on VYVGART vs placebo had below normal levels for white blood cell counts, lymphocyte counts, and neutrophil counts. The majority of infections and blood side effects were mild to moderate in severity. Your health care provider should check you for infections before starting treatment, during treatment, and after treatment with VYVGART. Tell your health care provider if you have any history of infections. Tell your health care provider right away if you have signs or symptoms of an infection during treatment with VYVGART such as fever, chills, frequent and/or painful urination, cough, pain and blockage of nasal passages/sinus, wheezing, shortness of breath, fatigue, sore throat, excess phlegm, nasal discharge, back pain, and/or chest pain.
Undesirable immune reactions (hypersensitivity reactions). VYVGART can cause the immune system to have undesirable reactions such as rashes, swelling under the skin, and shortness of breath. In clinical studies, the reactions were mild or moderate and occurred within 1 hour to 3 weeks of administration, and the reactions did not lead to VYVGART discontinuation. Your health care provider should monitor you during and after treatment and discontinue VYVGART if needed. Tell your health care provider immediately about any undesirable reactions.
Before taking VYVGART, tell your healthcare provider about all of your medical conditions, including if you:
Have a history of infection or you think you have an infection.
Have received or are scheduled to receive a vaccine (immunization). Discuss with your health care provider whether you need to receive age-appropriate immunizations before initiation of a new treatment cycle with VYVGART. The use of vaccines during VYVGART treatment has not been studied, and the safety with live or live-attenuated vaccines is unknown. Administration of live or live-attenuated vaccines is not recommended during treatment with VYVGART.
Are pregnant or plan to become pregnant and are breastfeeding or plan to breastfeed.
Tell your health care provider about all the medicines you take, including prescription and over-the-counter medicines, vitamins, and herbal supplements.
What are the common side effects of VYVGART?
The most common side effects of VYVGART are respiratory tract infection, headache, and urinary tract infection.
These are not all the possible side effects of VYVGART. Call your doctor for medical advice about side effects. You may report side effects to the US Food and Drug Administration at 1-800-FDA-1088.
Please see the full Prescribing Information for VYVGART and talk to your doctor.
About Efgartigimod
Efgartigimod is an antibody fragment designed to reduce pathogenic immunoglobulin G (IgG) antibodies by binding to the neonatal Fc receptor and blocking the IgG recycling process. Efgartigimod is being investigated in several autoimmune diseases known to be mediated by disease-causing IgG antibodies, including neuromuscular disorders, blood disorders, and skin blistering diseases, in both an intravenous and subcutaneous (SC) formulation. SC efgartigimod is co-formulated with recombinant human hyaluronidase PH20 (rHuPH20), Halozyme's ENHANZE® drug delivery technology.
About VYVGART
VYVGART® (efgartigimod alfa-fcab) is a human IgG1 antibody fragment that binds to the neonatal Fc receptor (FcRn), resulting in the reduction of circulating immunoglobulin G (IgG) autoantibodies. It is the first and only approved FcRn blocker. VYVGART is approved in the United States and Europe for the treatment of adults with generalized myasthenia gravis (gMG) who are anti-acetylcholine receptor (AChR) antibody positive, and in Japan for the treatment of adults with gMG who do not have sufficient response to steroids or non-steroidal immunosuppressive therapies (ISTs).
About Generalized Myasthenia Gravis
Generalized myasthenia gravis (gMG) is a rare and chronic autoimmune disease where IgG autoantibodies disrupt communication between nerves and muscles, causing debilitating and potentially life-threatening muscle weakness. Approximately 85% of people with MG progress to gMG within 24 months1, where muscles throughout the body may be affected. Patients with confirmed AChR antibodies account for approximately 85% of the total gMG population.
About argenx
argenx is a global immunology company committed to improving the lives of people suffering from severe autoimmune diseases. Partnering with leading academic researchers through its Immunology Innovation Program (IIP), argenx aims to translate immunology breakthroughs into a world-class portfolio of novel antibody-based medicines. argenx developed and is commercializing the first-and-only approved neonatal Fc receptor (FcRn) blocker in the U.S., Japan and the EU. The Company is evaluating efgartigimod in multiple serious autoimmune diseases and advancing several earlier stage experimental medicines within its therapeutic franchises. For more information, visit www.argenx.com and follow us on LinkedIn, Twitter, and Instagram.
For further information, please contact:
Media:
Kelsey Kirk
kkirk@argenx.com
Another thing I don't understand: how an analyst can call for a move from $53 to $54 in 12 months and then list their buying recommendation as "overweight". That must look really odd to their customers.
Well, maybe it was pretty much priced in. I thought that having the Pdufa date in March instead of May would generate a little more excitement. JPM changed their Dec ‘23 PT from $53 to $54. Apparently, one issue is that argx’s management said they expect the SC formulation to do better in Europe and ROW than in US. Something to do with Medicare. It doesn’t make much sense but that doesn’t mean they are wrong, unfortunately. I am not sure if they have filed anywhere else. Maybe the SC Tecentriq filing will make more of a difference.
Yes, thanks for the reminder on the PDUFA date. I'm not going to be selling calls as that approaches. LOL!
Lack of clarity on this topic is a problem.
SC efga has a Pdufa target action date of March 20, 2023. The market will like this, I think.
Interesting, thanks. He didn't mention the topic of patent extensions which remain a mystery to me.
The bear case and the bull case for Halo in this question and answer:
"Rotonti: What do you say to those that say Halozyme is a one-product company facing a patent cliff?
Tran: Halozyme's European and U.S. patents expire in a few years. However, this is already contemplated in their contracts. Many of these contracts are for 10-plus years, regardless of the patent expiration. In other cases, their contracts have a step down in rates. Finally, Halozyme is not resting on their laurels and continues to sign new partnerships and add new capabilities. We believe you have a lot of optionality with Halozyme. "
https://www.fool.com/investing/2022/11/11/interview-with-quoc-tran-of-tran-capital/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article
SVB Securities analyst David Risinger maintained a Buy rating on Halozyme today and set a price target of $62.00. The company’s shares closed last Friday at $53.97, close to its 52-week high of $54.67.
Here is why it’s not good idea to bet against Halozyme. From fool.com: “With just the drugs on the market, Halozyme's revenue should grow from about $260 million in 2020 to over $1 billion by 2024. Royalty revenue generates about 90% incremental margins. Earnings and cash flow should grow at a very attractive rate.” (See source link below)
This earnings growth and halo’s phat profit margin are secular and agnostic to interest rates and recessions. As such, anytime IBB, XBI or overall market conditions drag Halozyme’s price, consider it a gift from “Mr. Market” and load up more. Hold on to your shares and add more with every dip.
This strategy has worked well in 10’s, 20’s, 30’s and 40’s and will work all the way to 100’s. Bottomline is that if earnings are multiplying several fold over the next few years, the share price should at least double. The PE and PEG ratio are still low when considering the profit margin and proven earnings growth.
From Nasdaq:
PE ratios:
2023 Estimates 18.42
2024 Estimates 14.39
From Finviz:
PEG 0.64
https://www.fool.com/investing/2022/11/11/interview-with-quoc-tran-of-tran-capital/?source=eptyholnk0000202&utm_source=yahoo-host&utm_medium=feed&utm_campaign=article&yptr=yahoo
Right, so it was out there, but may have been under the radar. The other thing, in terms of me pushing back against this big move, or the logic of it anyways, is that Helen confirmed, but did not raise, guidance for the year. That situation does not often accompany and support large upside moves. I expect a pretty large pullback after the exuberance of the macro environment dissipates. Chart is way overheated, IMHO.
Still, not complaining. It was a pretty good, if head scratching week.
"Was the Amivantamab news really that surprising? Normally a move into Phase 3 is not going to get everyone that amped up. Was this an undisclosed indication up until now?"
It was not a complete surprise but I think a lot of people were not aware of it because it was undisclosed in halo's presentations for earnings calls. It came up during the earnings call:
"David Risinger
Okay. Thank you. And then just a couple of other questions. So congrats on the amivantamab advance into Phase 3 just so that I understand your disclosure, how is that Janssen program previously disclosed by the company? What was it named or was it just an unidentified J&J program? I just don't know how you handle that disclosure previously.
Helen Torley
So -- and we work with our partners on their preference for how things are disclosed in our SEC filings, like as an example, our P&Q [ph], it was disclosed as amivantamab. In our presentation for earnings calls, it was undisclosed because, again, we work with our partners and their preference, but it's been disclosed since the beginning in our SEC filing documents."
I agree about the macro picture and biotech in general being risk on. A 20% HALO move in a week or so is still a little heady here IMHO. Was the Amivantamab news really that surprising? Normally a move into Phase 3 is not going to get everyone that amped up. Was this an undisclosed indication up until now?
I think that what is happening is that Darzalex Faspro and phesgo (and IV efga) continue to exceed expectations, the risk of a disastrous acquisition is out of the way, and there is more visibility into new products: SC Efga, SC Tecentriq, SC Opdivo, SC Ocrevus, Amivantamab in phase 3, and the potential of new deals with Enhanze and the auto injector, so Helen's talking about Halo's strong prospects sounds more realistic.
And of course, it doesn't hurt that, all of a sudden, biotechs are on fire right now.
I am not familiar with him either. He seems to be speaking strictly from a technical perspective.
I am not sure if the market expected the amivantamab news. To have a phase 3 trial with a primary completion date of Jan 2024 for a drug that is expected to have $5B in peak sales is obviously a good thing. Also, perhaps it helped to see the projected sales of $13B for Darzalex in 2026 in the presentation. With analysts expecting a conversion rate of at least 90%, that is another nice piece of change going to Halo.
As I believe I've said before, I think $58//$60 is reachable especially if SC Efga gets a pdufa date in March 2023. We should find out in about 10 days. It would also help if Roche filed for SC Tecentriq soon.
For the stock to hit $69 I would think we need some more good news. Of course, if the war in Ukraine ends, inflation drops significantly and the market rallies to new highs, that may lift all boats. But I think Halo is perceived as a defensive stock now. It outperformed in a bear market and it may underperform in a bull market.
https://www.clinicaltrials.gov/ct2/show/NCT05388669?term=amivantamab+SC&draw=2&rank=1
Not familiar with this guy. Is he speaking strictly from a technical perspective? The strong upside moves he predicts would be welcome, of course, but they have to be based on fundamentals; and as you've noted, there are not any visible catalysts to support that at this time.
Not selling more but comfortable with my decision.
Do you agree with their prediction, maumar? How about you, Fred? Are you thinking about selling more calls?
I hope he is right.
"Bottom line strategy: Traders who are long HALO should continue to hold those rewarding positions. Risk to $44 now. Our price targets are now $58 and then $69."
"In this weekly Point and Figure chart of HALO, below, we see a potential longer-term price objective in the $81 area."
https://finance.yahoo.com/m/9ca2c5dc-5b2e-39e8-acbc-11e7beae2dbe/halozyme-therapeutics-earns-a.html
After hours trades. We'll see soon enough what, if anything, that is about.
Yes, Dec calls. Keeping things within a visible range.
Halozyme announced Johnson & Johnson (JNJ) would test a treatment combination in lung cancer patients. The combo will use Halozyme's drug delivery system, Enhanze.
This is the first product from Halozyme's so-called "Wave 4" to begin final-phase testing. The first wave of products launched in 2021 with the second following in 2023. Fourth-wave products will launch in 2025 and beyond.
Johnson & Johnson expects this combination of drugs — dubbed amivantamab and lazertinib — to bring in a peak of more than $5 billion in sales, SVB Securities analyst David Risinger said in a note to clients.
"If the combination succeeds Halozyme could be eligible to receive royalties on another blockbuster potential product," Risinger said. "Amivantamab royalties are not reflected in our Halozyme estimates and represent upside."
https://www.investors.com/research/ibd-stock-of-the-day/halo-stock-surges-into-breakout-with-another-potential-blockbuster-in-view/
It’s a reasonable bet. The selling was brutal when the stock hit those levels. I liked the news of Amivantamab going to a phase 3 trial. If elections results turn out to be market friendly and we get a Pdufa date in March for sc efga, the stock has a chance to go higher. Maybe. Time will tell. We don’t have a major catalyst in the near term that I can see. Did you sell Dec calls?
I pulled the trigger and sold a few calls, just in regards to my trading shares, not the core. I still don't see a move past the all time highs at about $54 or so. As I type this there is no substantial volume (~1.1 million shares at about 1PM) to back up any strong upside move, so I feel pretty good about taking some income at this time. If I'm wrong, I'm pretty sure there will be a chace to recoup any called shares down the road.
Today may be a good opportunity to sell covered calls. For better or worse, I can’t do it until maybe the end of the day. I am tempted to wait. I see a slight chance of the stock breaking out and hitting $60. A few things need to happen first, though.
In a report released today, Jason Butler from JMP Securities reiterated a Buy rating on Halozyme (HALO – Research Report), with a price target of $62.00. The company’s shares closed yesterday at $45.83.
I am considering it too. MS increased their PT from $50 to $53.
Excellent conference call and earnings results. Halozyme is significantly undervalued. Mid to high 50’s are in the bag
No insider selling since February, not even for paying taxes on awarded options. I’ve been an investor in Halo since 2011 and don’t recall this long a period without insider selling (again paying taxes). Insiders believe Halo is worth a lot more.
I concur and am strongly considering selling some covered calls here.
"I hope I otherwise answered your question, at least as far as I see it."
Yes, you did. I agree a breakout is unlikely in the near term unless we get some major unexpected good news. Perhaps, if we get get several incremental developments: supportive general market and biotech sector, market friendly election results, some more visibility into potential new products (Tecentriq, Tepezza in phase 3?, etc.), the stock will keep creeping up. We have an awful lot of resistance between $48 and $52 and the selling has been intense in the past two years when the stock reached these levels. And we need some upgrades with PTs over $60.
Thanks for the correction. I'd misread your previous post and thought that the $53 target was for December of this year.
I hope I otherwise answered your question, at least as far as I see it.
Not sure what analyst you are referring to. JPM's has a Dec 23 $53 PT so they don't expect a strong move anytime soon.
I was hoping for better news from argx. Efga is exceeding expectations, which is great for halo and I haven't listened to their earnings call but according to Morgan Stanley:
"Mgt. expects to launch the subcutaneous (subQ) formulation of efgartigimod (1000mg efgartigimod-PH20) in 1H23. Mgt. sees a scenario where subQ is favored in the EU/Japan and IV remains popular in the US given Medicare Part B coverage."
Unfortunately, revenue projections are much higher for US than in EU/Japan at least until 2025. This will provide some diversification but it's not the game changer in the short term I was hoping for.
Good bye stranger, it’s been nice, hope you find your paradise.
Stocks don’t simply do their own individual thing. Market conditions matter. Besides, the injector thing continues to be a lukewarm at best unknown. Patent situation ditto, though not even lukewarm. I took the sell option on both paths of the fork in the road, thanks, Yogi. Do you have any good suggestions for YIELD? Oil hasn’t been bad, but no more easy money there, either. 65% cash or equivalent. The rest with yield, some tax advantaged.
Thanks, HALO.
It’s trading at a PE of 24 for 2022 and PE of 16 for 2023 (see link below). Considering the recent market conditions, and to a novice, this may seem fairly or even richly valued. However, such a conclusion is shortsighted because:
1) Halo has a terrific PEG ratio of 0.81 (i.e. significant and proven earnings growth at a bargain price)
2) Halozyme is in a secular and interest rate agnostic pharma sector which has and will continue to see major in-flows especially after elections. Split government is good for biopharma.
3) Phat profit margin of 75% (see link below)
4) Share buy backs
We are overdue for some fresh partnerships which will not only add momentum but also immediately make the PE even more favorable due to the upfront payments and further improved E.
I would consider dollar-profit-averaging out between $65 and $100 (if no are no new positive catalysts)
At these bargain prices, I continue to purchase OWNERSHIP in this company. If it drops in price due to overall market conditions, I will continue to add as I have on monthly (and often weekly) basis for over 10 years.
https://www.nasdaq.com/market-activity/stocks/halo/price-earnings-peg-ratios
https://finviz.com/quote.ashx?t=HALO&p=d
That's a tough call, because it depends on the reason for the breakout. Right now, there is none and we're going to stall here and pull back to low $40s in my opinion. A real breakout would require a move to the high mid 50's and beynond and there is no reason for that to happen in an environment where one can get 4% on 10 year govt bonds. I think the analyst who is calling for a move back into the $50s by year's end is out of his mind, to be honest. Such pricing made sense when bonds were yielding 2%, but not in today's world.
Of course, that can change at the drop of a hat if a substantial deal is struck, but that is all speculation and the pace of new deals is, and has been, very disconcertingly slow. I expect nothing from the next conference call other than the usual blithe Helen blather. Hope I'm wrong, but not planning on it.
Where do you guess technical traders would sell if the stock finally broke out?
They say they are monitoring the latest timelines for the next wave of products with SQ efga and Tecentriq in focus. And they will listen to any color mgmt. may provide on further integrating the Antares business and progress with the Tlando launch.
They also have their eyes on Faspro and Phesgo conversion momentum to support royalty revenue growth. They see potential upside from new Enhanze products/partnerships. They did not change their Dec 23 $53 PT, though.
Thanks for sharing that. Do they discuss any potential future developments?
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http://www.halozyme.com
Halozyme is a biopharmaceutical company developing and commercializing products based on the extracellular matrix for the drug delivery, oncology, and dermatology markets. The company's portfolio of products is based on intellectual property covering the family of human enzymes known as hyaluronidases.
The company's Enhanze Technology is a novel drug delivery platform designed to increase the absorption and dispersion of biologics. Its first partnership is with Roche to apply Enhanze Technology to Roche's biological therapeutic compounds for up to 13 targets. In addition, the company has received FDA approval for two products: Cumulase® and HYLENEX, for use as an adjuvant to increase the absorption and dispersion of other injected drugs and fluids. HYLENEX is partnered with Baxter Healthcare Corporation. The Company also has a number of different enzymes in its portfolio that are targeting significant areas of unmet need.
Halozyme is a therapeutically driven biopharmaceutical company developing and commercializing recombinant human enzymes to provide enhanced and innovative alternatives that improve the practice of medicine. Halozyme is focused on providing life-saving and life-enhancing solutions to the drug delivery, oncology, and dermatology markets.
Products/Pipeline
Halozyme is a therapeutically driven biopharmaceutical company developing and commercializing recombinant human enzymes to provide enhanced and innovative alternatives that improve the practice of medicine. Halozyme is focused on providing life-saving and life-enhancing solutions to the drug delivery, oncology, and dermatology markets.
The foundation of our capabilities is our recombinant human hyaluronidase enzyme, rHuPH20, which temporarily degrades hyaluronan, a structural protein in the interstitial space. This temporary alteration provides an opportunistic window that allows the delivery of injectable biologics such as monoclonal antibodies, as well as small molecules and fluids. With our enzyme, many pharmaceuticals that would normally be injected intravenously (IV) can be administered subcutaneously (SC). This change in route of delivery may improve patient convenience, enhance pharmacokinetics, boost efficacy, extend the product lifecycle, and reduce cost, in addition to other attributes.
Four key internal programs comprise our current proprietary product development portfolio. The endocrinology franchise consists of Insulin-PH20, which applies our PH20 enzyme to currently approved and marketed insulin products. The oncology franchise consists of PEGPH20, a new molecular entity administered intravenously that targets the external environment of tumor cells, and Chemophase, which utilizes the PH20 enzyme for local administration in bladder cancer. Our lead enzyme in the dermatology franchise, HTI-501, is a new molecular entity which digests collagen and may have applications in both medical and aesthetic dermatology such as cellulite.
Our product development pipeline also includes three distinct partnered programs with two companies; Roche and Baxter BioScience for Enhanze technology, and a partnership with Baxter Medication Delivery for Hylenex, our FDA-approved drug. These partnered programs validate our technology and may generate clinical and commercial milestone revenue based on the achievement of pre-specified events along with sales royalties when products reach the commercial stage. We utilize the cash milestone payments generated from the partnered programs as a source of development funding for our proprietary pipeline projects.
Endocrinology
Our endocrinology development activity focuses on insulin, a mainstay of treatment for people with diabetes. This program combines our PH20 hyaluronidase enzyme with insulin, a frequently prescribed, commercially successful pharmaceutical already approved and on the market.
We believe that the combination of our PH20 enzyme with existing, meal time insulin products such as regular insulin or a fast acting analog could lead to a best-in-class product that more closely mimics the release of natural insulin in the body. The results of a Phase 1 study, where we combined PH20 with Humulin® R (regular human insulin) and with Humalog® (insulin lispro), demonstrated significantly faster and higher insulin plasma concentrations compared to either insulin alone. Faster acting insulin could provide patient benefits such as reduced hypoglycemia, lower intra-subject variability, and less weight gain. These potential benefits would be significant but must first be demonstrated and proven in clinical development.
Our first Phase 2 clinical trial with insulin began in October 2008 and enrolled Type 1 diabetic patients. Data presented from our Phase 1 trial showed that the administration of regular insulin and an insulin analog with our PH20 enzyme led to faster insulin absorption and more rapid effects than either insulin alone. Our Phase 2 trial is designed to demonstrate similar results in Type 1 diabetic patients. We hope to present preliminary Phase 2 results at the American Diabetes Association meeting in June. Additional clinical trials are planned in 2009.
ONCOLOGY
Hyaluronan (HA) is a component of the extracellular matrix that frequently accumulates in human cancers. The quantity of HA produced by the tumor cells directly correlates with increased tumor growth and metastasis and it has been linked with tumor progression and poor prognosis. Previous clinical trials of bovine hyaluronidase showed promise in enhancing chemotherapy regimens using adjunctive systemic hyaluronidase in chemo-refractory patients. In animal studies the removal of HA from tumors with hyaluronidase has demonstrated improved survival, suppression of tumor growth, and enhanced efficacy of certain anti-cancer drugs. Chemotherapeutic agents may be able to better penetrate the tumor once the HA has been removed.
We have also observed significant reduction of tumor interstitial fluid pressure (IFP) following the administration of rHuPH20 in solid tumors grown in mice. Tumor interstitial pressure is widely believed to be an important factor limiting the access of cytostatic regimens to solid tumors. By digesting the HA gel, rHuPH20 may reduce IFP in the tumor and promote more effective delivery of chemotherapy throughout the tumor. This could potentially lead to better patient outcomes and increased survival.
Our PEGPH20 program utilizes pegylated hyaluronidase that allows for intravenous administration to degrade the HA that surrounds tumor cells. The Chemophase program applies the hyaluronidase enzyme along with mitomycin C directly into the bladder where the enzyme can hydrolyze the HA produced by the cancerous bladder cells. Unlike tumor cells, normal cells do not produce HA in this manner and appear not to be adversely affected by the enzyme.
We are investigating pegylated-rHuPH20, or PEGPH20, a new molecular entity, as a candidate for the systemic treatment of tumors rich in hyaluronan, or HA. Pegylation refers to the attachment of polyethylene glycol to our rHuPH20 enzyme, which extends its half life from less than 30 seconds to more than 24 hours. Numerous solid tumors, including prostate, breast, pancreas, colon and non-small cell lung, accumulate HA that forms a halo like coating over the surface of the tumor cell.
In preclinical studies, PEGPH20 has been shown to remove the HA coating surrounding several tumor cell lines. Treatment of PC3 (a prostate cancer cell line that produces HA) tumor bearing mice with PEGPH20 as a single agent demonstrated approximately 70% tumor growth inhibition relative to controls. Repeat dosing with PEGPH20 produced a sustained depletion of HA in the tumor microenvironment. For tumor models that do not produce HA, the presence of PEGPH20 has no effect. An estimated 20% to 40% of certain solid tumors may produce HA.
Administration of the combination of PEGPH20 with docetaxel or with liposomal doxorubicin in HA producing animal tumor models produced a significant survival advantage for the combination relative to either chemotherapeutic agent alone. Therefore, based on these animal studies and other tests conducted by Halozyme, PEGPH20 may represent a potentially innovative treatment approach against tumors that produce HA.
PEGPH20 recently started its first Phase 1 clinical trial which will evaluate the agent over a range of doses. The study will enroll up to 46 advanced cancer patients who will receive treatment cycles of intravenous PEGPH20 as a single agent twice weekly for three weeks followed by one week without dosing. Patients may continue subsequent cycles at their assigned dose as long as there is no tumor progression and no unacceptable toxicity. Groups of four to eight patients will be in each dosage cohort. The primary outcome measures of the study will be to evaluate safety and tolerability of PEGPH20 and to determine the recommended single agent Phase 2 dose. Secondary objectives will be to determine pharmacokinetics, obtain dose limiting toxicities, and observe patients for any evidence of anti-tumor activity.
Chemophase is a chemoadjuvant we have investigated for possible use in the treatment of patients with superficial bladder cancer, which represents a smaller potential market than our other proprietary pipeline opportunities. The Chemophase program combines our PH20 enzyme with mitomycin C, a cytotoxic drug, for direct administration into the bladder immediately after transurethral resection of bladder tumors (TURBT), a standard surgical treatment for the disease. Many bladder tumor cells produce high quantities of HA and thus treatment to remove the HA coating could increase their exposure to mitomycin C. This may lead to a lower recurrence of the cancer and a better prognosis for patients.
In June 2008, we announced the interim results of a Phase I/IIa clinical trial in which the Chemophase combination treatment of mitomycin C plus rHuPH20 enzyme was well tolerated and appears safe. The study reported no dose-limiting toxicities and no observed side effects attributable to the enzyme. An ongoing safety trial involves the immediate post operative (IPOP) administration of PH20 and mitomycin directly into the bladder of patients after a TURBT procedure.
DERMATOLOGY
The foundation of our dermatology program is HTI-501, a human lysosomal proteinase that degrades collagen. It may be useful in the treatment of both medical and aesthetic dermatologic conditions such as cellulite, Dupuytren’s contracture and Peyronie’s disease. This pH sensitive enzyme demonstrates activity under mildly acidic conditions but shows no activity at normal physiologic pH. This attribute may be harnessed to exert control over the duration and location of the enzyme’s therapeutic activity.
Tests with HTI-501 in several animal models have produced encouraging results and our pre-clinical investigations of the enzyme will continue throughout 2009.
ENHANZE
Enhanze™ Technology, a proprietary drug delivery platform using Halozyme’s first approved enzyme, rHuPH20, is our broader technology opportunity that can potentially lead to partnerships with other pharmaceutical companies. When co-formulated with other injectable drugs, Enhanze Technology may facilitate the penetration and dispersion of these drugs by temporarily opening flow channels under the skin.
Molecules as large as 200 nanometers may pass freely through the extracellular matrix, which recovers its normal density within approximately 24 hours, leading to a drug delivery platform which does not permanently alter the architecture of the skin. The principal focus of our Enhanze Technology platform is the use of rHuPH20 to facilitate subcutaneous or intramuscular routes of administration for large molecule biological therapeutics. We are seeking partnerships with pharmaceutical companies that market drugs requiring or benefiting from injection via the subcutaneous or intramuscular routes that could benefit from this technology. In December 2006, we signed our first Enhanze Technology partnership with F. Hoffmann-La Roche Ltd and Hoffmann-La Roche, Inc. In September 2007, we signed our second Enhanze Technology partnership with Baxter Healthcare Corporation and Baxter Healthcare S.A.
HYLENEX
Full prescribing information is available below or at www.hylenex.com
Hylenex is a human recombinant formulation of rHuPH20 to facilitate the absorption and dispersion of other injected drugs or fluids. When injected under the skin or in the muscle, hyaluronidase can digest the hyaluronic acid gel, allowing for temporarily enhanced penetration and dispersion of other injected drugs or fluids. We filed a New Drug Application (NDA) in March 2005 and we received approval of our Hylenex NDA in December 2005.
Hylenex may facilitate subcutaneous delivery of fluids up to one liter without the need for intravenous access, a procedure known as EASI. Importantly, EASI for fluid replacement in terminal patients may be achieved with limited or no need for nursing assistance. Over 1.1 million subcutaneous fluid infusions are performed per year with hospice patients alone (Source: Company estimates based on National Hospice and Palliative Care Organization data, 2001). In addition, over 500 million infusion bags are utilized annually in the United States, some of which could potentially convert to EASI using Hylenex, giving rise to additional market potential (Source: B. Braun, 2003).
During January 2006, we completed the INcreased Flow Utilizing Subcutaneously-Enabled Lactated Ringer’s clinical trial, or INFUSE-LR study, which was designed to determine the subcutaneous (Sub-Q) infusion flow rate of Lactated Ringer’s solution with and without Hylenex, determine the Sub-Q infusion flow rate dose response to Hylenex over one order of magnitude of dose, and assess safety and tolerability. This prospective, double-blind, randomized, placebo-controlled, within-subject, dose-comparison study enrolled 54 volunteer subjects who received Sub-Q infusions simultaneously in both upper arms through 24 gauge catheters.
During October 2006, we completed the INcreased Flow Utilizing Subcutaneously-Enabled Morphine clinical trial, or INFUSE-Morphine study, which was designed to determine the time to maximal blood levels of morphine after subcutaneous administration with and without Hylenex, to determine the time to maximal blood levels after intravenous administration of morphine, and to assess safety and tolerability. This prospective, double-blind, randomized, placebo-controlled, within-subject, dose-comparison study enrolled 12 evaluable patients who received Sub-Q infusions.
For full prescribing information, visit www.hylenex.com or www.baxter.com.
CUMULASE
Cumulase is an ex vivo (used outside of the body) formulation of rHuPH20 to replace the bovine enzyme currently used for the preparation of oocytes (eggs) prior to IVF during the process of intracytoplasmic sperm injection (ICSI), in which the enzyme is an essential component. The enzyme strips away the hyaluronic acid that surrounds the oocyte. This allows the clinician to then perform the ICSI procedure, injecting the sperm into the oocyte. The FDA considers hyaluronidase IVF products to be medical devices subject to 510(k) approval and we filed our 510(k) application during September 2004.
We received FDA clearance in April 2005. We launched Cumulase in the European Union and in the United States in June 2005. We believe the total ICSI market consisted of an estimated 500,000 intracytoplasmic sperm injection cycles worldwide in 2005 (Source: CDC, 2001; ESHRE, 2002).
Visit www.cumulase.com for more information.
Informative Links
http://www.nasdaq.com/asp/Holdings.asp?FormType=Institutional&page=holdingssymbol=HALO&selected=HALO
(Institutional Holdings)
http://www.cnbc.com/id/15837275?q=HALO
(Big Block Holders from CNBC)
http://www.sec.gov/edgar/searchedgar/companysearch.html
(SEC filings search from SEC.gov Edgar)
http://www.nasdaqtrader.com/Trader.aspx?id=shortinterest (Short Interest)
http://www.newratings.com/main/search_result.m?section=search
(Analyst Ratings)
http://www.insidercow.com/history/company.jsp?company=HALO&B1=Search%21
(Insider Transactions)
http://clinicaltrials.gov/ct2/results?term=rhuph20
http://clinicaltrials.gov/ct2/results?term=hyaluronidase+%28human+recombinant%29
(Clinical Trials)
Clinicals & Partners
http://media.corporate-ir.net/media_files/irol/17/175436/120506RocheHalozymePR.pdf
Halozyme and Roche enter agreement for the application of Enhanze, a novel technology to improve drug delivery
http://media.corporate-ir.net/media_files/irol/17/175436/RocheHalozymeSCRIPPresentation.pdf
(Halozyme and Roche presents “Developing and Managing Strategic Alliances” at the SCRIP conference
May 15-16, 2007 Berlin, Germany)
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1049931&highlight=
Baxter and Halozyme Announce Collaboration for Development of Subcutaneous GAMMAGARD LIQUID(TM) Administration Using Enhanze(TM) Technology
http://www.genengnews.com/news/bnitem.aspx?name=32185399
Baxter Presents Latest Clinical Trial Results of GAMMAGARD LIQUID Administered Subcutaneously (Enhanze 3-16-08)
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=962993&highlight=
Halozyme and Baxter Expand Global HYLENEX Collaboration
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=IROL-secToc&TOC=aHR0cDovL2NjYm4uMTBrd2l6YXJkLmNvbS94bWwvY29udGVudHMueG1sP2lwYWdlPTU0NDgxMjkmcmVwbz10ZW5r (Feb. 12, 2008 Slide Show Presentation)
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1093211&highlight=
Halozyme Therapeutics Announces Peer-Reviewed Publications of the INFUSE-LR Clinical Trial Results and Clinical Practice Experience With Hylenex
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1117082&highlight=
Halozyme Therapeutics Presents Favorable New Safety and Pharmacokinetic Data on rHuPH20 Enzyme Produced Via New Manufacturing Process at European Federation for Pharmaceutical Sciences
Halozyme Therapeutics Presents Findings on Combinations of rHuPH20 Enzyme With Bisphosphonates at the American Association for Cancer Research Conference
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1130327&highlight=
Halozyme Therapeutics Presents Pre-Clinical Studies on Dermal Remodeling With HTI-501, a Lysosomal Proteinase
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1147853&highlight=
http://www.baxter.com/about_baxter/news_room/news_releases/2008/03-16-08-gammagard_liquid.html
Phase I/II data showed that Enhanze Technology™ enabled subcutaneous administration of a monthly dose of GAMMAGARD LIQUID in patients with Primary Immunodeficiency
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1163612&highlight=Halozyme Therapeutics Announces Phase I Clinical Trial Results Demonstrating that the Combination of Recombinant Human Hyaluronidase (rHuPH20) With Humulin R(R) and with Humalog(R) Yields Faster, More Physiologic Insulin Kinetics and Better Predictability
Cheetah full ADA presentation
http://www.halozyme.com/images/ADA%202008%20Poster%20legal.pdf
Halozyme Therapeutics Announces Positive Findings With Pegylated Enzyme in Prostate Cancer Models
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1177539&highlight=
Halozyme Therapeutics Announces That Chemophase Meets Primary Endpoint in Phase I/IIa Clinical Trial
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1170737&highlight=
Halozyme Therapeutics Begins Phase 2 Clinical Trial of Insulin With rHuPH20 in Type 1 Diabetic Patients
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1220870&highlight=
Halozyme Therapeutics Announces Roche Begins Phase 1 Clinical Trial and Selects Fourth Exclusive Biologic Target
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1233454&highlight=
Halozyme Therapeutics Begins Phase 1 Clinical Trial of Bisphosphonate Administered With rHuPH20 Enzyme
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1234643&highlight=
Halozyme Deprioritizes Bisphosphonate Program to Reallocate Resources to More Commercially Attractive Internal Programs
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1295922&highlight=
Phase III Trial Begins for GAMMAGARD LIQUID Plus rHuPH20 in Primary Immunodeficiency Patients
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1240232&highlight=
Halozyme Therapeutics Announces Roche Begins Phase 1 Clinical Trial With Second Biologic
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1244971&highlight=
Halozyme Therapeutics Presents Positive Pre-Clinical Single Agent Data for PEGPH20
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1248119&highlight=
AACR presentations show that PEGPH20 produces anti-cancer activity in models of breast, prostate, and brain metastases that produce hyaluronan
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1277960&highlight=
Phase 1 Study for Halozyme's Insulin-PH20 Published, Highlights Findings for Faster Acting Insulin Formulations |
|
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1293715&highlight=
Accelerated Insulin Pharmacokinetics and Improved Glycemic Control in T1DM Patients by
Coadministration of Prandial Insulin with Recombinant Human Hyaluronidase
http://www.halozyme.com/ADA%202009%20Poster%20v3%202.pdf
Halozyme Announces Roche Selects Fifth Exclusive Biologic Target
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1297519&highlight
Baxter and Halozyme Announce Completion of Patient Enrollment in Phase III Pivotal Trial of GAMMAGARD LIQUID(TM) with rHuPH20 Enzyme
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1307856&highlight=
First patient dosed in trial with third Roche biologic formulated with Halozyme’s recombinant human hyaluronidase enzyme
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1330295&highlight=
Baxter Announces the Commercial Launch of HYLENEX at ACEP for Use in Pediatric Rehydration |
Data from the First Pediatric Rehydration Study, INFUSE-PEDS 1, Published Today in Pediatrics |
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1338559&highlight=
Halozyme Announces Roche Doses First Patient in Phase 3 Clinical Trial with Subcutaneous Herceptin(R)
http://phx.corporate-ir.net/phoenix.zhtml?c=175436&p=irol-newsArticle&ID=1344910&highlight=
Earnings Transcripts
http://seekingalpha.com/article/68609-halozyme-therapeutics-q4-2007-earnings-call-transcript?source=yahoo&page=1
Halozyme Therapeutics Q4 2007 Earnings Call Transcript
http://seekingalpha.com/article/76655-halozyme-therapeutics-inc-q1-2008-earnings-call-transcript?source=yahoo
Halozyme Therapeutics Inc. Q1 2008 Earnings Call Transcript
http://seekingalpha.com/article/90080-halozyme-therapeutics-inc-q2-2008-earnings-call-transcript?source=yahoo&page=1
Halozyme Therapeutics Inc. Q2 2008 Earnings Call Transcript
http://seekingalpha.com/article/106797-halozyme-therapeutics-inc-q3-2008-earnings-call-transcript?source=yahoo
Halozyme Therapeutics, Inc. Q3 2008 Earnings Call Transcript
http://seekingalpha.com/article/125929-halozyme-therapeutics-inc-q4-2008-earnings-call-transcript?source=trans_sb_previous
Halozyme Therapeutics, Inc. Q4 2008 Earnings Call Transcript
http://seekingalpha.com/article/171883-halozyme-therapeutics-inc-q3-2009-earnings-call-transcript?source=yahoo
Halozyme Therapeutics, Inc. Q3 2009 Earnings Call Transcript
Links to understanding Clinical results
http://www.boomer.org/c/p3/c02/c0210.html
http://health.yahoo.com/other-other/picomoles-per-liter-pmol-l/healthwise--stp1694.html
http://www.unc.edu/~rowlett/units/scales/clinical_data.html
http://www.bio.net/bionet/mm/immuno/2000-July/015983.html
http://www.boomer.org/c/p1/
http://www.merck.com/mmpe/sec20/ch303/ch303a.html
Shares Outstanding: 91,095,288
Float: 73.21M
http://www.deepcapture.com/
(O-T How the market is manipulated and companies destroyed)
Halozyme Therapeutics Inc.
11588 Sorrento Valley Road
Suite 17
San Diego, CA 92121
United States
Phone: 858-794-8889
Halozyme Contact
Robert H. Uhl
Senior Director Investor Relations
858.704.8264
ruhl@halozyme.com
(Disclaimer) Do your own DD and confirm anything said on this board.
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