Halozyme Therapeutics Reports 2008 Second Quarter Financi...( SAN DIEGO Aug. 8 /- Halozyme Ther...)

SAN DIEGO, Aug. 8 /PRNewswire-FirstCall/ -- Halozyme Therapeutics, Inc. (Nasdaq: HALO), a biopharmaceutical company developing and commercializing products targeting the extracellular matrix, today reported financial results for the three and six months ended June 30, 2008.

"As we've previously stated, we continue to increase our focus and resources on our proprietary programs that target large markets. Now we are beginning to see tangible results of that effort. Data from recent presentations at medical conferences validates the strength of our technology platform across multiple therapeutic areas," said Jonathan Lim, MD, President and CEO of Halozyme. "For example, Phase I clinical results showed faster absorption and onset for insulin when co-administered with our PH20 enzyme, a profile more similar to the body's own natural insulin. This could lead to the development of a best-in-class product. We have also demonstrated in animal models significant tumor suppression for PEGPH20 plus chemotherapy and controlled degradation of a structural component of the skin with HTI-501 that may prove beneficial in various dermatologic conditions. Over the next six months, we plan to initiate additional clinical trials to enhance the value of our pipeline."

Recent Scientific Achievements

-- Presentation of Phase I clinical results from the Company's diabetes

mellitus program at the American Diabetes Association's 68th Scientific

Sessions. The data showed that combining the Company's proprietary

recombinant human hyaluronidase enzyme (rHuPH20) with Humulin R(R)

(regular insulin human) or Humalog(R) (insulin lispro) yielded

pharmacokinetics and glucodynamics that better mimicked
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