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Halozyme Therapeutics Reports Third Quarter 2010 Financial Results
Date:11/5/2010

These two studies, one in type 1 diabetes patients and the other in type 2 patients, will each enroll approximately 110 patients. The primary endpoint will be a comparison of glycemic control, as assessed by the change in A1C from baseline.
  • An equity financing raised net proceeds of $60 million through a public offering of 8.3 million newly issued shares of common stock. The offering closed on September 14, 2010.
  • Halozyme completed its root cause investigation regarding HYLENEX manufacturing and has identified a corrective action plan and regulatory strategy to reintroduce HYLENEX to the market. We have been in communication with the U.S. Food and Drug Administration (FDA), and have provided them materials relating to the root cause and remediation plans.
  • Recently, Halozyme redirected its resources to concentrate on advancing its core proprietary programs through key clinical inflection points in 2011 and 2012, and to support its strategic alliances with Roche and Baxter. Halozyme will continue full development of its Phase 2 Ultrafast Insulin, Phase 1 PEGPH20, and preclinical HTI-501 programs, and has decreased research relating to the discovery and preclinical assessment of new compounds. This strategy resulted in reduction in the workforce of approximately 25 percent.
  • Baxter presented two posters with interim data from its Phase 3 clinical trial of HyQ at the European Society for Immunodeficiencies meeting in Istanbul, Turkey on October 6-9, 2010. HyQ is an immunoglobulin therapy facilitated subcutaneously by Halozyme's recombinant human hyaluronidase. Interim analyses showed that 28 out of 29 HyQ-treated study participants with primary immune deficiency were able to infuse immunoglobulin under the skin, using a single injection site, at infusion volumes, intervals and rates equivalent to their previous intravenous (IV) administration of immunoglobulin. 
  • Roche presented a poster of its Phase 1 clinical trial for Her
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