Halozyme Therapeutics, Inc. (Nasdaq: HALO) Reports Phase 2 Results – Shares Near 52-Week High

Halozyme Therapeutics, Inc. – Nasdaq: HALO

Shares of Halozyme Therapeutics, Inc. traded near their 52-week highs in this morning’s pre-market action. Shares are traded on the Nasdaq under the ticker HALO. HALO’s 52- week high was $17.19 and this morning shares rocketed nearly 60% to a pre-market high of $17.00. Traders are responding to favorable results in HaloZyme Therapeutics’ Phase 2 trial addressing cancer of the Pancreas. Pancreatic cancer is the third-leading cause of cancer related death in the United States, and more than 65,000 people in the U.S. and top five European countries are diagnosed annually with advanced cases of the disease.

San Diego, CA-based Halozyme Therapeutics, Inc. reported topline results from the combined analysis of Stages 1 and 2 and Stage 2 alone of its HALO 202 study in stage IV pancreas cancer patients. Among the findings, the overall study population showed a statistically significant increase in progression-free survival in patients with high levels of hyaluronan (HA-High) treated with PEGPH20 plus Abraxane and gemcitabine when compared to HA-High patients receiving Abraxane and gemcitabine alone. Stage 2 of the study, which completed enrollment in February 2016, showed a 91 percent improvement in median PFS for HA-High patients in the PEGPH20 arm, 8.6 months compared to 4.5 months in the control arm, and achieved its primary endpoint.

Halozyme Therapeutics Inc. reported sales of $135.1 million in 2015 – an improvement from reported 2012 sales of $42.3 million. EPS for HALO has had similar improvement, losing $0.74 in 2013 but only losing $0.25 in 2015.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

Ticker Symbol HALO
Last Price a/o 7:31 AM EST $17.05
Average Volume 1.6 million
Market Cap $1.39 Billion
Sales $160 million
Shares Outstanding 130,27 million
Share Float 108.71 million
Shortable Yes
Optionable Yes
Inside Ownership 0.10%
Short Float 20.06%
Short Interest Ratio 13.68
Quarterly Return -9.87%
YTD Return 8.20%
Year Return -34.78%

Tracon Pharmaceuticals Inc. (Nasdaq: TCON) Reaches FDA Agreement

Tracon Pharmaceuticals Inc. – Nasdaq: TCON

Shares of San Diego, CA-based Tracon Pharmaceuticals Inc. are trading at their daily highs on heavy volumes. TRACON develops targeted therapies for cancer, ophthalmic and fibrotic diseases.

Traded on the Nasdaq under ticker symbol TCON, the shares gapped up from their previous close of $4.90 on news that the biotechnology firm reached an agreement with the U.S. Food and Drug Administration (FDA) under a Special Protocol Assessment (SPA) for the protocol design, clinical endpoints, and statistical analysis approach for the Company’s Phase 3 study evaluating TRC105 for the treatment of patients with advanced angiosarcoma. The SPA process is one in which a sponsor asks the FDA to evaluate the proposed design and size of Phase 3 clinical trials that are intended to form the primary basis for determining a drug product’s efficacy. An SPA agreement indicates concurrence with the adequacy and acceptability of specific critical elements of protocol design, endpoints and analysis.

Three firms cover Tracon Pharmaceuticals Inc. and all three assign TCON shares a “Strong Buy” with a consensus price target of $12. In 2015 Tracon reported their strongest sales figures yet – $7.9 million but had a EPS loss of $2.20. TCON shares have never experienced positive EPS.

I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 96 hours. All information, or data, is provided with no guarantees of accuracy.

Ticker Symbol TCON
Last Price a/o 11:30 AM EST $5.75
Average Volume 47,000
Market Cap $69.78 million
Sales $4.2 million
Shares Outstanding 14.24 million
Share Float 13.51 million
Shortable Yes
Optionable No
Inside Ownership 37.69%
Short Float 0.70%
Short Interest Ratio 2.01
Quarterly Return -26.54%
YTD Return -46.97%
Year Return -46.97%