Halozyme Therapeutics Inc (HALO)

[easycomeandgo]

It would surprise me if Halozyme management did not leave any room for positive surprises. In that, too, I don’t think I am alone or possess some unique grasp of things.

In general, some vague malaise has got hold of this stock, some foreboding… It is as if Halozyme’s time on top of the hill has come and gone, new know-how and fading patent exclusivity is bringing in new and competent entrants. This is certainly obvious with injectors, (with which Halozyme shot itself in the foot, IMO) but also appears with the emergence of other, alternate modes of subcutaneous delivery. I fear the market doubt is systemic. The argument that new technology is early in its development cycle does not seem successful. There may be some doubt about Halozyme‘s continuing in-house research prowess, or ability to substitute it with acquisition.