Halozyme Therapeutics, Inc. (NASDAQ: HALO) isn’t having the best of starts to the trading session this morning. The stock is down after announcing a change to its primary endpoint in a clinical study known as HALO-301. The news upset investors who are reacting by sending the stock tumbling down. Today, we’ll talk about the update, what we’re seeing from HALO as a result, and what we’ll be watching for ahead.
HALO Announces Endpoint Change
As mentioned above, Halozyme Therapeutics is having a rough start to the trading session this morning after announcing an endpoint change in a clinical study. In a press release issued early this morning, the company said that prior to data analysis, the FDA has agreed to the company’s request to change the endpoint of the HALO-301 study. The endpoint has been changed to a single primary endpoint of Overall Survival.
In the release, HALO said that as a result of the change, the previously planned interim analysis will not be conducted. The HALO-301 clinical trial is a Phase 3 global, randomized, double blind, placebo controlled clinical trial. Through the trial, the company is assessing PEGPH20 as a first-line therapy for the treatment of patients with metastatic pancreas cancer.
In the release, HALO said that it would be hosting a conference call today at 5 p.m. ET to discuss the trial’s statistical plan. Dr. Helen Torley, President and CEO of the company, will lead the call. The call will be provided via live webcast in the Investors section of the company’s website. The call can also be accessed by dialing (877) 410-5657 from the United States or (334) 323-7224 internationally. If you dial in, use the passcode 387156.
What We’re Seeing From The Stock
One of the first lessons that we learn when we start to work in the market is that the news leads to moves. In the case of Halozyme Therapeutics, the news was somewhat concerning. After all, changing a primary endpoint in the middle of an ongoing clinical trial could be a sign of issues with previous endpoint goals. So, it’s not surprising to see that investors are upset, sending the stock tumbling down. As is normally the case, our partners at Trade Ideas were the first to alert us to the declines. At the moment (8:35), HALO is trading at $13.68 per share after a loss of $3.03 per share or 18.13% thus far today.
Stop wasting your time! Start finding winning trades in minutes with Trade Ideas!
What We’ll Be Watching For Ahead
Moving forward, the iWatch Markets team will continue to keep a close eye on HALO. In particular, we’re interested in following the HALO-301 study and will be attending the call later on today. Nonetheless, we’ll continue to follow the story closely and bring the news to you as it breaks!
Never Miss The News Again
Do you want real-time, actionable news delivered to your inbox? Join the CNA Finance mailing list below!