Halozyme Gains on $4 Million Payment: Los Angeles Mover

Halozyme Therapeutics Inc. (HALO) gained after a filing by partner Roche Holding AG (ROG) with European regulators triggered a $4 million milestone payment.

Halozyme gained 3.5 percent to $5.94 at the close of New York trading. The San Diego-based company has declined 39 percent in the past 12 months.

Halozyme said two days ago that Roche had submitted a line extension application with the European Medicines Agency for a subcutaneous formulation of MabThera for non-Hodgkin lymphoma. That formulation of the medicine, which would shorten treatment times, uses Halozyme technology that Roche licensed in 2006 for as much as $612 million. Halozyme’s technology enables the injection of large amounts of medication under the skin so patients can receive an injection rather than an IV infusion.

“Offering a subcutaneous formulation of MabThera could provide patients with a therapy which is less invasive, shortens administration times and potentially reduces health-care costs,” Gregory I. Frost, Halozyme’s chief executive officer, said in a statement two days ago.

To contact the reporter on this story: Shannon Pettypiece in New York at spettypiece@bloomberg.net

To contact the editor responsible for this story: Reg Gale at rgale5@bloomberg.net

Press spacebar to pause and continue. Press esc to stop.

Bloomberg reserves the right to remove comments but is under no obligation to do so, or to explain individual moderation decisions.

Please enable JavaScript to view the comments powered by Disqus.