Yahoo Finance Halozyme tumbles after company pauses study
Halozyme slides as pauses cancer treatment study because of blood vessel blockage concerns
NEW YORK (AP) -- Shares of Halozyme Therapeutics plunged 22 percent Friday after the company ordered the temporary halt of a mid-stage clinical trial for a pancreatic cancer treatment over concerns that patients were experiencing blocked blood vessels.
The company said patients treated with its drug, PEGPH20, may have been more likely to suffer a blocked blood vessel. Halozyme said it stopped treating and enrolling patients as a precaution while the available data from the study is reviewed. The trial compares two regimens intended to treat pancreatic cancer.
Shares of Halozyme Therapeutics Inc. dropped $2.55 to $9.04 in morning trading.
The trial compares PEGPH20 and the drugs Abraxane and Gemzar to Abraxane and Gemzar alone.
Halozyme's Enhanze technology temporarily breaks down a substance in the body that forms a barrier between cells. That allows treatments to be absorbed faster, allowing some drugs to be delivered by injection instead of an IV drip. The San Diego company says PEGPH20 is related to its drug Hylenex, which is used to facilitate the administration of fluids to hydrate patients and to increase the dispersion and absorption of injected drugs.
