Halozyme Therapeutics, Inc. (NASDAQ:HALO), a biotechnology company developing novel oncology and drug-delivery therapies, today announced it will be expanding its facilities by opening a satellite office on Gateway Boulevard in South San Francisco. Halozyme is headquartered in San Diego and currently has approximately 200 employees.

“Given the company’s focus in oncology and growth trajectory, a satellite office inSan Francisco is an important step to help us attract additional talented team members whose focus will be to expand our clinical programs and advance towards our goal of commercializing our investigational new drug, PEGPH20,” saidHelen Torley, president and CEO. “The Bay Area satellite location will give us the ability to augment our already strong San Diego work force.”

In addition to the ongoing Phase 2 Study 202 of PEGPH20 in combination with gemcitabine and ABRAXANE® (nab-paclitaxel) in pancreatic cancer, and the Phase 1b/2 study of PEGPH20 in combination with docetaxel in Non-Small Cell Lung Cancer (NSCLC). Halozyme recently announced that it has initiated a clinical trial for a phase 1b/2 study evaluating its investigational new drug PEGPH20 in combination with KEYTRUDA® (pembrolizumab) in NSCLC and Gastric Cancer. Halozyme also plans to initiate a Phase 3 trial of PEGPH20 in combination with gemcitabine and ABRAXANE® (nab-paclitaxel) in pancreatic cancer by the end of Q1 2016. PEGPH20 (PEGylated recombinant human hyaluronidase) targets hyaluronan (HA), a glycosaminoglycan, which is a chain of natural sugars throughout the body that can accumulate around cancer cells, inhibiting other therapies. PEGPH20 is designed to degrade HA to improve the access to tumor cells for chemotherapy, monoclonal antibodies and other immuno-therapy agents. (Original Source)

Shares of Halozyme Therapeutics closed today at $15.64, up $0.06 or 0.39%. HALO has a 1-year high of $25.25 and a 1-year low of $7.51. The stock’s 50-day moving average is $14.93 and its 200-day moving average is $18.44.

On the ratings front, Halozyme has been the subject of a number of recent research reports. In a report issued on September 15, Piper Jaffray analyst Charles Duncan reiterated a Buy rating on HALO, with a price target of $24, which implies an upside of 53.5% from current levels. Separately, on August 11, JMP’s Jason Butler maintained a Buy rating on the stock and has a price target of $22.

According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Charles Duncan and Jason Butler have a total average return of 8.2% and 46.8% respectively. Duncan has a success rate of 44.0% and is ranked #701 out of 3847 analysts, while Butler has a success rate of 52.2% and is ranked #114.

Halozyme Therapeutics Inc is a biopharmaceutical company. It is engaged in research on human enzymes that alter the extracellular matrix and tumor environment.