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Halozyme (HALO) Up on Positive Phase II Data on PEGPH20

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Shares of Halozyme Therapeutics, Inc. HALO surged almost 18% after the company announced top-line data from the phase II HALO 202 study on PEGPH20 for the treatment of stage IV (metastatic) pancreatic cancer patients.

A look at Halozyme’s share price movement in 2016 shows that the company has marginally outperformed the Zacks classified Medical-Biomedical/Genetics industry. Specifically, the stock lost 20% during this period, compared to the industry’s plunge of 20.5%.



Coming back to the latest news, the HALO 202 study evaluated PEGPH20, in combination with Celgene Corporation’s CELG Abraxane and chemo agent, gemcitabine, in patients with high levels of hyaluronan (HA-High).

Results from the study demonstrated a statistically significant increase in progression-free survival (PFS) in patients who were treated with PEGPH20 plus Abraxane and gemcitabine, compared to patients receiving Abraxane and gemcitabine alone.

Currently, PEGPH20 is being evaluated in the phase III HALO 301 study as first-line therapy for patients with metastatic pancreas cancer.

PEGPH20 has orphan drug status in both the U.S. and the EU for the treatment of pancreatic cancer. Also, in the U.S., PEGPH20, in combination with gemcitabine and Abraxane, has fast track designation for the treatment of metastatic pancreas cancer.

According to the company’s press release, more than 65,000 individual in the U.S. and the top five European countries are diagnosed with advanced cases of pancreatic cancer annually.

PEGPH20 is also being evaluated in a phase Ib study, in combination with Merck & Co., Inc.’s (MRK - Free Report) Keytruda, for the treatment of patients with relapsed non-small cell lung and gastric cancer.

HALOZYME THERA Price and Consensus

 

HALOZYME THERA Price and Consensus | HALOZYME THERA Quote

Halozyme currently carries a Zacks Rank #3 (Hold).

A Key Pick in the Sector

Anika Therapeutics, Inc. ANIK is a better-ranked stock in the health care sector sporting a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Anika’s earnings estimates for 2016 and 2017 were up 3.9% and 0.5%, respectively, in the last 60 days. The company recorded a positive earnings surprise in each of the last four quarters, the average being 33.14%. Its share price was up 35.8% in the past one year.

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