Halozyme Therapeutics, Inc. (NASDAQ:HALO) and Eisai Inc. will present a scientific poster entitled, “Pegylated Recombinant Human Hyaluronidase PH20 (PEGPH20) Enhances Efficacy of Eribulin Mesylate (HALAVEN®) in Triple Negative Breast Cancer Xenografts” at the 38th Annual San Antonio Breast Cancer Symposium (SABCS) on Dec. 9.
The research showed the potential impact for PEGPH20-mediated hyaluronan (HA) removal on concentrations of eribulin and antitumor effects of breast cancer therapy in preclinical models. Halozyme’s investigational new candidate drug, PEGPH20 targets the degradation of HA, a glycosaminoglycan or chain of natural sugars that may accumulate in certain tumors.
Halozyme, a biotechnology company developing novel oncology and drug-delivery therapies, and Eisai Co., Ltd., the parent company of Eisai Inc., announced a clinical collaboration in July 2015, with plans to initiate a phase 1b/2 clinical trial to evaluate PEGPH20 plus eribulin in first-line HER2-negative metastatic breast cancer patients with high-HA tumors.
“Our preclinical studies have revealed important data about the potential for PEGPH20 when used in combination of eribulin, and we are looking forward to expanding on these important preclinical findings when we initiate our clinical study with Eisai,” said Dr. Helen Torley, president and CEO of Halozyme. “We remain encouraged by the potential for PEGPH20 to help patients across a range of cancer and therapy types. Our presentation today reflects the growing body of research supporting this potential of PEGPH20.”
“Data presented today highlight a productive preclinical collaboration with Halozyme and support Eisai’s commitment to address the unmet medical needs of patients with advanced breast cancer,” said Alton Kremer, Deputy President, Oncology PCU and Chief Medical Officer, Global Oncology Business Unit, Eisai Inc. “We are encouraged by these preclinical data and look forward to enrolling patients in the clinical trial early next year.” (Original Source)
Shares of Halozyme Therapeutics closed yesterday at $17.04, up $0.28 or 1.67%. 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 $16.31 and its 200-day moving average is $18.58.
On the ratings front, Halozyme has been the subject of a number of recent research reports. In a report issued on November 18, Citigroup analyst Joel Beatty initiated coverage with a Buy rating on HALO and a price target of $25, which represents a potential upside of 46.7% from where the stock is currently trading. Separately, on September 15, Piper Jaffray’s Charles Duncan reiterated a Buy rating on the stock and has a price target of $24.
According to TipRanks.com, which ranks over 7,500 financial analysts and bloggers to gauge the performance of their past recommendations, Joel Beatty and Charles Duncan have a total average return of 8.0% and 6.2% respectively. Beatty has a success rate of 50.0% and is ranked #1446 out of 3640 analysts, while Duncan has a success rate of 44.9% and is ranked #686.
Halozyme Therapeutics Inc is a biopharmaceutical company. It is engaged in research on human enzymes that alter the extracellular matrix and tumor environment.