I can't speak for all HALO investors but I don't think its the CRL per say its the (much further reaching) contents of the CRL and the fear of how far it reaches.
For those unfamiliar with HALO here is a summary of their products and if one believes management the impact:
Hylenex (Approved) - > not impacted HyQvia (Baxter immunoglobulin with rHuPH20) -> on Hold Herceptin SC, MabThera SC, Actemra SC (Roche) -> not impacted. Herceptin filled March '12. Mabthera planned filing later this year. Cinryze (ViroPharma with rHuPH20) -> on Hold
Insulin-PH20 (Proprietary) -> no current trials but my impression the pump program (using Hylenex) would not be but others would be. PEGPH20 (Proprietary) -> not impacted HTI-501 (Proprietary) -> not impacted
It was obvious to you but I suspect that most traders missed that info. The options (puts) prices for reasonable periods were very reasonable and those holders of $7.50 puts will do very well tomorrow.
I certainly missed it and by put volumn I suspect that nearly everybody else missed it also.
Quote: -------------------------------------------------------------------------------- HALO—on BAX 2q12 call they said they expected a CRL soon… --------------------------------------------------------------------------------
Exactly right—that’s why I said “as expected” in the header of #msg-78090032.
It would appear that many HALO investors violated one of the fundamental tenets of biotech investing: learn what your company’s partner is saying about your company’s drugs and drug candidates
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