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Halozyme Therapeutics Reports Fourth Quarter and Year End 2007 Financial Results
Date:3/13/2008

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Fourth Quarter and Year End 2007 Financial Results

-- Net loss for the fourth quarter of 2007 was $8.7 million, or

$0.11 per share, compared with a net loss for the fourth quarter of

2006 of $4.4 million, or $0.07 per share. Net loss for the twelve

months ended December 31, 2007 was $23.9 million, or $0.32 per share,

compared with a net loss of $14.8 million, or $0.24 per share, for

the comparable period last year.

-- Revenues for the fourth quarter of 2007 were $1.3 million, compared

with $426,000 for the fourth quarter of 2006. Cumulase product sales

for the fourth quarter of 2007 were $70,000, compared with $105,000

for the fourth quarter of 2006. Revenues under collaborative

agreements for the fourth quarter of 2007 were $1.2 million, compared

with $311,000 for the fourth quarter of 2006. Revenues under

collaborative agreements in 2007 primarily consisted of the

amortization of upfront fees received from Baxter and Roche of

$588,000 and research and development reimbursements from Baxter and

Roche of $652,000.

-- Research and development expenses for the fourth quarter of 2007 were

$7.3 million, compared with $2.7 million for the fourth quarter of

2006, reflecting increased compensation expenses including

share-based compensation expenses, research and development spending

on our various pre-clinical and clinical programs, and manufacturing

costs associated with the manufacturing scale-up of the Company's

rHuPH20 enzyme.

-- Selling, general and administrative expenses for the fourth quarter

of 2007 were $3.9 million, compared with $2.4 million for the fourth

quarter of 2006, reflecting increases in compensation expenses

including
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SOURCE Halozyme Therapeutics, Inc.
Copyright©2008 PR Newswire.
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