SAN DIEGO, Aug. 8 Halozyme Therapeutics, Inc.(Nasdaq: HALO), a biopharmaceutical company developing and commercializingproducts targeting the extracellular matrix, today reported financial resultsfor the three and six months ended June 30, 2008.
"As we've previously stated, we continue to increase our focus andresources on our proprietary programs that target large markets. Now we arebeginning to see tangible results of that effort. Data from recentpresentations at medical conferences validates the strength of our technologyplatform across multiple therapeutic areas," said Jonathan Lim, MD, Presidentand CEO of Halozyme. "For example, Phase I clinical results showed fasterabsorption and onset for insulin when co-administered with our PH20 enzyme, aprofile more similar to the body's own natural insulin. This could lead tothe development of a best-in-class product. We have also demonstrated inanimal models significant tumor suppression for PEGPH20 plus chemotherapy andcontrolled degradation of a structural component of the skin with HTI-501 thatmay prove beneficial in various dermatologic conditions. Over the next sixmonths, we plan to initiate additional clinical trials to enhance the value ofour pipeline."
Halozyme management will host a pipeline update conference call today todiscuss these topics beginning at 8:00 a.m. PT (11:00 a.m. ET). Toparticipate via telephone, please call 888-256-9044 for domestic callers, or706-643-5585 for international callers. A telephone replay will be availablefor 48 hours by dialing 800-642-1687 for domestic callers, or 706-645-9291 forinternational callers. The reservation number is 44830661. The conferencecall will be broadcast live over the Internet at http://www.halozyme.com andthe replay will be available on the Company's website for 30 days.
HYLENEX recombinant (hyaluronidase human injection) is indicated as anadjuvant to increase the absorption and dispersion of other injected drugs, asan adjuvant for subcutaneous fluid administration (hypodermoclysis), and as anadjunct in subcutaneous urography for improving resorption of radiopaqueagents. Hyaluronidase is contraindicated in patients with hypersensitivity tohyaluronidase enzyme or any other ingredients in the formulation.Hyaluronidase should not be used to enhance the absorption and dispersion ofdopamine and/or alpha agonist drugs. Discontinue HYLENEX recombinant ifsensitization occurs. Hyaluronidase should not be applied directly to thecornea, and should not be injected around infected or acutely inflamed areas,nor used to reduce the swelling of bites or stings. Hyaluronidase should notbe used for intravenous injections because the enzyme is rapidly inactivated.Furosemide, the benzodiazepines, and phenytoin are incompatible withhyaluronidase. Please see accompanying package insert athttp://www.hylenex.com for full Prescribing Information.
About Halozyme Therapeutics, Inc.
Halozyme is a biopharmaceutical company developing and commercializingproducts targeting the extracellular matrix for the drug delivery, metabolism,oncology and dermatology markets. The company's portfolio of products andproduct candidates is based on intellectual property covering the family ofhuman enzymes known as hyaluronidases. The company's Enhanze(TM) Technologyis a novel drug delivery platform designed to increase the absorption anddispersion of biologics. Its key partnerships are with Roche to apply EnhanzeTechnology to Roche's biological therapeutic compounds for up to 13 targetsand with Baxter to apply Enhanze Technology to Baxter's biological therapeuticcompound, GAMMAGARD LIQUID 10%. In addition, the company has received FDAapproval for two products: Cumulase(R), for use in in-vitro fertilization, andHYLENEX, for use as an adjuvant to increase the absorption and dispersion ofother injected dru