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Halozyme Therapeutics Reports Third Quarter 2011 Financial Results
Date:11/7/2011

million, compared with $12.4 million for the third quarter of 2010, primarily due to an increase in manufacturing activities and clinical trial activities.  
  • Selling, general and administrative expenses for the third quarter of 2011 were $4.3 million, compared to $3.4 million for the third quarter of 2010. The increase for SG&A results from higher marketing expenses and legal expenses during the quarter.  
  • Cash and cash equivalents were $66.3 million as of September 30, 2011, compared with $83.3 million as of December 31, 2010 and $89.8 million as of September 30, 2010. Net cash used in the third quarter of 2011 was approximately $12.8 million.
  • For 2011, the Company expects operating expense  to be at the low end of the 15% - 20% operating expense growth guidance previously given. The Company expects net cash burn to be at the low end of the previously guided range of $30 and $35 million.

  • Conference CallHalozyme management will host a conference call and webcast on November 7, 2011 to discuss these topics beginning at 4:30 p.m. EST (1:30 p.m. PST). To participate via telephone, please call 877.407.8037 for domestic callers or 201.689.8037 for international callers. A telephone replay will be available beginning shortly after the end of the call by dialing 877.660.6853 from the U.S. or 201.612.7415 for international callers and using account # 367 and replay ID # 376771. The conference call will be broadcast live over the Internet at www.halozyme.com and the replay will be available on the company's Web site for seven days.

    About Halozyme TherapeuticsHalozyme Therapeutics is a biopharmaceutical company developing and commercializing products targeting the extracellular matrix for the diabetes, cancer, dermatology and drug delivery markets. The Company's product portfolio is based primarily on intellectual property covering the family of human enzymes kno
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    SOURCE Halozyme Therapeutics, Inc.
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