Halozyme Therapeutics Inc (HALO)

[biotech2020]

I never understood what Enhanze was going to do for Humira. My wife uses Humira every other week and it's just a simple SC injection. I don't see much value added by using Enhanze and it appears ABBV doesn't either. In any case, there are numerous Humira generics, the first of which just got approved by the FDA a few months ago, http://www.wsj.com/articles/fda-approves-amgens-biosimilar-version-of-humira-1474669560. I don't think this will be a $20 billion drug by 2020 unless Abbvie has really good patent lawyers. With or without Humira, HALO already has enough recurring Enhanze revenue to be profitable (less PEGPH20 development costs). But what I find most encouraging is Helen Torley said PEG stage 2 data may be delayed until 2017. Earlier this year she suggested that if stage 2 data is good enough, they may consider an early filing due to the significant unmet need with pancreatic cancer. Now I think this may be a distinct possibility.