Halozyme Therapeutics Inc. (NASDAQ:HALO) fell $3.16 (27%) to $8.43 on Friday after it stopped the Phase II Study 202 evaluating PEGPH20 in combination with Abraxane nab-paclitaxel and gemcitabine to treat untreated pancreatic cancer on the recommendation of an independent DMC. Halozyme halted dosing and enrollment in the open-label trial as "precautionary actions" while the DMC evaluates a possible difference in the thromboembolic event rate between patients treated with PEGPH20 plus Abraxane and gemcitabine and patients treated with Abraxane and gemcitabine alone. Halozyme declined to disclose details, including how many patients have been enrolled in the trial. According to ClinicalTrials.gov, Study 202 is slated to enroll 132 patients.
Halozyme is developing PEGPH20 to improve the absorption and dispersion of IV drugs. The product is a pegylated form of Halozyme's recombinant human PH20 hyaluronidase (rHuPH20), which improves the delivery of subcutaneous drugs.
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