Halozyme Plans to Sell 8.3M Shares

Bruce V. Bigelow9/8/10

San Diego’s Halozyme Therapeutics (NASDAQ: [[ticker: HALO]]) said today to could sell as much as 8.3 million shares of its common stock to support further research and development of its product candidates. If the company sold all 8.3 million shares through the so-called shelf registration, it could raise between $75.6 million and $43.3 million, based on the high and low stock price over the 12 months ended June 30, according to its SEC filing. Halozyme says it has been developing a series of products based on human enzymes known as Hyaluronidases, which are a major component of both tumors and normal tissues, such as skin and cartilage. The company has about 92 million shares outstanding.

Bruce V. Bigelow is the editor of Xconomy San Diego. You can e-mail him at bbigelow@xconomy.com or call (619) 669-8788