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Halozyme Therapeutics Reports 2008 Third Quarter Financial Results
Date:11/6/2008

ed in mouse models that treatment of hormone resistant human prostate cancer with intravenous PEGPH20 in combination with the chemotherapeutic drugs docetaxel (Taxotere(R)) or liposomal doxorubicin (Doxil(R)) resulted in a substantial increase in anti-tumor activity. The docetaxel plus PEGPH20 combination treatment demonstrated significantly enhanced survival compared to treatment with docetaxel alone. These results and other findings support initiation of a Phase 1, dose escalation, intravenous, PEGPH20 monotherapy trial that is expected to begin during the first half of 2009 in late stage, refractory cancer patients.

-- Baxter announced it submitted an IND to the FDA to conduct a Phase 3 clinical trial with GAMMAGARD LIQUID plus Halozyme's Enhanze(TM) Technology as a subcutaneous injection via a single site for the treatment of primary immune deficiency.

Third Quarter 2008 Financial Results

-- Net loss for the third quarter of 2008 was $10.9 million, or $0.14 per share, compared with a net loss for the third quarter of 2007 of $7.0 million, or $0.09 per share. Net loss for the nine months ended September 30, 2008 was $31.8 million, or $0.40 per share, compared with a net loss of $15.2 million, or $0.21 per share, for the comparable period last year.

-- Revenues for the third quarter of 2008 were $2.5 million, compared with $943,000 for the third quarter of 2007. Revenues under collaborative agreements for the third quarter of 2008 were $2.2 million, compared with $758,000 for the third quarter of 2007. Revenues under collaborative agreements in the third quarter of 2008 primarily consisted of the amortization of upfront fees received from Baxter and Roche of $588,000 and research and development reimbursements from Baxter of $847,000 and Roche of $760,000. Revenues under collaborative agreements for the third quarter of 2007 primarily consisted of the amortization of upfront fees received from Baxter and Roche of $477,000 and research a
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SOURCE Halozyme Therapeutics, Inc.
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