Halozyme's lead drug flops in PhI­II, forc­ing CEO to ax 160 and re­set fo­cus on tech plat­form

Halozyme’s lead drug has crashed and burned in Phase III, forc­ing CEO He­len Tor­ley to scrap the en­tire pro­gram, trig­ger a com­pa­ny re­struc­tur­ing to slash costs and shift fo­cus to mar­ket­ing its plat­form drug de­liv­ery tech­nol­o­gy.

The da­ta from the Phase III of PEGPH20 in pan­cre­at­ic can­cer were bleak. Their drug $HA­LO com­bined with Abrax­ane ac­tu­al­ly fell short of a con­trol arm dosed with gem­c­itabine and nab-pa­cli­tax­el alone — 11.2 months for their com­bo com­pared to 11.5 months for the con­trol.

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