An investigation on behalf of investors of Halozyme Therapeutics, Inc. (NASDAQ:HALO) shares over potential securities laws violations by Halozyme Therapeutics, Inc. and certain of its directors and officers in connection with certain financial statements was announced.
The investigation by a law firm focuses on possible claims on behalf of purchasers of the securities of Halozyme Therapeutics, Inc. (NASDAQ:HALO) concerning whether a series of statements by Halozyme Therapeutics, Inc. regarding its business, its prospects and its operations were materially false and misleading at the time they were made.
San Diego, CA based Halozyme Therapeutics, Inc. is a biotechnology company focused on developing and commercializing oncology therapies. Halozyme Therapeutics, Inc. reported that its annual Total Revenue rose from $135.06 million in 2015 to $146.69 million in 2016 and that its Net Loss increased from $32.23 million in 2015 to 103.02 million in 2016.
Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) grew from $7.54 per share in February 2016 to as high as $21.13 per share in late December 2017.
On January 16, 2018, an abstract detailing a Phase IB/II randomized study of Halozyme's drug PEGPH20 as a treatment for pancreatic cancer in combination with the cancer drug mFFOX was published in connection with a scheduled presentation at the 2018 Gastrointestinal Cancers Symposium. The abstract's authors concluded that the 'addition of PEGPH20 to mFFOX is not recommended for further study and appears to be detrimental' after noting that patients who used the combination experienced higher levels of diarrhea, fatigue, nausea, vomiting, and more than those who used mFFOX as a monotherapy.
Shares of Halozyme Therapeutics, Inc. (NASDAQ:HALO) declined to as low as $17.11 per share on Janaury 17, 2018.