Halozyme Stock Climbs 8% As It Reaches a MilestoneFriday, September 27, 2013
Stock for San Diego-based Halozyme Therapeutics Inc. climbed 8 percent following news that it received a $10 million milestone payment from Roche Holding AG for commercializing Herceptin, its breast cancer drug.
Shares closed Sept. 26 at $10.57 for the $1.2 billion market cap company.
The drug, delivered subcutaneously, is for women who have HER2 breast cancer — an aggressive form of the disease, which affects about 20 percent of women with the disease.
The company first partnered with Roche in 2006.
-SDBJ Staff Report