Halozyme Therapeutics Inc (HALO)

[Fred Kadiddlehopper]

4% is the "mid-single digit" number to work with, that hasn't changed - yet.

I actually think the current projections support a pps today
of ~$85, but the uncertainties of:

a.) IP rolloffs that you mention,
b.) Helen's plan to buy new platforms, and
c.) the lack of a sustained momentum in signing new deals

all are a serious drag on the company's valuation.

New deals are key of course, since they will offset the IP patent issues. New deals are the core of the company's value proposition and until they start coming in at a more regular pace we'll always be under appreciated IMHO.