Halozyme Therapeutics, Inc. (NASDAQ:HALO) has recently appointed Michael J. LaBarre, as the company’s Chief Scientific Officer. He will be replacing Dr. Michael Shepard, who would now work as a research fellow for HALO. Additionally, the company is also reported to be working on a new product to be used in combination with others, for the treatment of various types of cancers. However, analysts believe that this drug would not hit the market, until 2017.
The recent promotion of Dr. LaBarre increases his responsibilities to researching and developing new drugs for the company, while continuing to manage product development and platform partnerships for ENHANZE. This product has been licensed by the company to a number of different pharmaceuticals for effective delivery of injectable drugs.
The CEO of Halozyme, Dr. Helen Torley, stated that Dr. LaBarre’s experience in the development of early pipeline assets is invaluable to his new role. He further revealed that the company is planning to broaden the investigational study of its new cancer drug, during the 2H2015. The CEO also stated that the phase-3 trial of the study would target patients suffering from pancreatic cancer.
Despite having just one marketed product and one drug platform, Halozyme has been performing very well in the market. Mr. Troley expressed his views at a recent interview with ‘Investor’s Business Daily’, as to why his company has been catching investor attention. She identified that the only difference between the company’s marketed product and ENHANZE is that one is administered as an IV and the other is bonded with the drug the doctor needs to administer. However, both drugs make it easier to inject drugs into the blood stream, by creating passages under the skin.
She also revealed that if HALO’s drug was to be given into the veins, instead of subcutaneously, it would be digested by the liver. However, if the drug is pegylated and combined with a cancer therapy, it would stay in the body for a longer period of time and at the same time kill the cancerous cells inside the body.
Halozyme Therapeutics, Inc. (NASDAQ:HALO) experienced a surge of 3.68% in its share price, during the September 23 session, to close at a share price of $18.02.